CloudAlpha Capital Management Limited Hong Kong Purchases Shares of 61,000 Schrodinger, Inc. (NASDAQ:SDGR)

Key Points

• CloudAlpha Capital Management Limited Hong Kong acquired 61,000 shares of Schrodinger, Inc. (NASDAQ:SDGR) in Q1, totaling approximately $1.2 million, marking a new position for the investor.
• Schrodinger reported a quarterly earnings miss with an EPS of ($0.82), despite a 62.7% year-over-year increase in revenue totaling $59.55 million.
• 77% of Schrodinger’s stock is currently held by institutional investors, with notable increases in stakes by several hedge funds, including a 4,213% increase by GAMMA Investing LLC.

CloudAlpha Capital Management Limited Hong Kong purchased a new position in Schrodinger, Inc. (NASDAQ:SDGR - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 61,000 shares of the company's stock, valued at approximately $1,204,000. CloudAlpha Capital Management Limited Hong Kong owned about 0.08% of Schrodinger at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new position in shares of Schrodinger in the fourth quarter worth about $27,000. ANTIPODES PARTNERS Ltd bought a new position in shares of Schrodinger in the first quarter worth about $37,000. GAMMA Investing LLC grew its holdings in shares of Schrodinger by 118.5% in the first quarter. GAMMA Investing LLC now owns 6,109 shares of the company's stock worth $121,000 after purchasing an additional 3,313 shares during the last quarter. Bayesian Capital Management LP bought a new position in shares of Schrodinger in the fourth quarter worth about $199,000. Finally, XTX Topco Ltd purchased a new stake in Schrodinger in the fourth quarter worth about $199,000. 79.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. KeyCorp dropped their target price on shares of Schrodinger from $32.00 to $30.00 and set an "overweight" rating on the stock in a report on Monday, July 14th. Morgan Stanley assumed coverage on shares of Schrodinger in a report on Thursday, July 3rd. They set an "equal weight" rating and a $28.00 target price on the stock.

Schrodinger Stock Performance

Schrodinger stock traded down $0.26 during midday trading on Friday, hitting $22.23. 760,915 shares of the company's stock were exchanged, compared to its average volume of 1,023,301. Schrodinger, Inc. has a 12 month low of $16.60 and a 12 month high of $28.47. The firm has a 50-day moving average of $21.83 and a two-hundred day moving average of $22.50. The company has a market cap of $1.63 billion, a PE ratio of -8.45 and a beta of 1.58.

Schrodinger (NASDAQ:SDGR - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.81) by ($0.01). The firm had revenue of $59.55 million for the quarter, compared to analysts' expectations of $54.60 million. Schrodinger had a negative net margin of 83.39% and a negative return on equity of 44.74%. The business's quarterly revenue was up 62.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.86) earnings per share. As a group, equities analysts expect that Schrodinger, Inc. will post -2.37 earnings per share for the current year.

About Schrodinger

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.