Cetera Investment Advisers Purchases New Stake in Schrodinger, Inc. $SDGR

Key Points

• Cetera Investment Advisers acquired a new stake in Schrodinger, Inc. during the first quarter, purchasing 17,105 shares valued at approximately $338,000.
• Schrodinger's stock price has recently been downgraded by several analysts, with Morgan Stanley lowering its price target from $28.00 to $19.00, and Citigroup reducing its target from $35.00 to $20.00.
• In its latest earnings report, Schrodinger posted a quarterly revenue of $54.76 million, surpassing analyst estimates, with a negative EPS of ($0.59) exceeding the expected ($0.83).

Cetera Investment Advisers purchased a new position in shares of Schrodinger, Inc. (NASDAQ:SDGR - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 17,105 shares of the company's stock, valued at approximately $338,000.

A number of other large investors also recently modified their holdings of SDGR. Point72 Hong Kong Ltd acquired a new position in shares of Schrodinger in the fourth quarter valued at $27,000. ANTIPODES PARTNERS Ltd acquired a new position in shares of Schrodinger in the first quarter valued at $37,000. GAMMA Investing LLC raised its stake in shares of Schrodinger by 118.5% in the first quarter. GAMMA Investing LLC now owns 6,109 shares of the company's stock valued at $121,000 after purchasing an additional 3,313 shares in the last quarter. Bayesian Capital Management LP bought a new stake in Schrodinger in the fourth quarter valued at $199,000. Finally, XTX Topco Ltd bought a new stake in Schrodinger in the fourth quarter valued at $199,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Schrodinger Price Performance

Shares of SDGR stock traded up $0.74 during trading hours on Friday, hitting $20.32. 1,895,835 shares of the company's stock were exchanged, compared to its average volume of 1,172,972. The stock's 50-day moving average is $20.68 and its 200-day moving average is $22.19. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -8.19 and a beta of 1.67. Schrodinger, Inc. has a 52 week low of $16.60 and a 52 week high of $28.47.

Schrodinger (NASDAQ:SDGR - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.24. The company had revenue of $54.76 million for the quarter, compared to analysts' expectations of $52.03 million. Schrodinger had a negative return on equity of 45.70% and a negative net margin of 76.22%.The business's revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.66) earnings per share. Equities research analysts forecast that Schrodinger, Inc. will post -2.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SDGR shares. KeyCorp lowered their price target on Schrodinger from $32.00 to $30.00 and set an "overweight" rating on the stock in a research report on Monday, July 14th. Citigroup cut Schrodinger from a "buy" rating to a "neutral" rating and lowered their price target for the company from $35.00 to $20.00 in a research report on Friday, August 15th. Barclays started coverage on Schrodinger in a research report on Thursday, August 14th. They issued an "overweight" rating and a $25.00 price target on the stock. Finally, Morgan Stanley lowered their price target on Schrodinger from $28.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Monday. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Schrodinger presently has an average rating of "Moderate Buy" and a consensus target price of $27.83.

Schrodinger Profile

Schrödinger, Inc, together with its subsidiaries, develops physics-based computational platform that enables discovery of novel molecules for drug development and materials applications. The company operates in two segments, Software and Drug Discovery. The Software segment is focused on licensing its software to transform molecular discovery for life sciences and materials science industries.