Deutsche Bank AG Reduces Stock Position in Schrodinger, Inc. $SDGR

Key Points

• Deutsche Bank AG reduced its stake in Schrodinger, Inc. by 81.0%, selling 188,717 shares, and now holds 44,309 shares, worth approximately $875,000.
• Schrodinger reported a quarterly revenue of $54.76 million, surpassing analyst expectations, and an EPS of ($0.59), which beat the consensus estimate of ($0.83).
• Current analyst ratings for Schrodinger show a consensus of "Moderate Buy" with an average target price of $27.83, though several firms have recently adjusted their price objectives for the stock.

Deutsche Bank AG cut its position in shares of Schrodinger, Inc. (NASDAQ:SDGR - Free Report) by 81.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,309 shares of the company's stock after selling 188,717 shares during the period. Deutsche Bank AG owned about 0.06% of Schrodinger worth $875,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in Schrodinger by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 511,395 shares of the company's stock valued at $10,095,000 after purchasing an additional 1,715 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Schrodinger in the 1st quarter worth $359,000. PNC Financial Services Group Inc. raised its position in shares of Schrodinger by 29.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,956 shares of the company's stock worth $58,000 after acquiring an additional 680 shares in the last quarter. Monaco Asset Management SAM raised its position in shares of Schrodinger by 3.1% in the 1st quarter. Monaco Asset Management SAM now owns 82,500 shares of the company's stock worth $1,629,000 after acquiring an additional 2,500 shares in the last quarter. Finally, XTX Topco Ltd raised its position in shares of Schrodinger by 32.5% in the 1st quarter. XTX Topco Ltd now owns 13,665 shares of the company's stock worth $270,000 after acquiring an additional 3,350 shares in the last quarter. 79.05% of the stock is owned by institutional investors.

Schrodinger Stock Performance

SDGR stock traded down $0.25 on Friday, hitting $19.51. 703,990 shares of the company's stock were exchanged, compared to its average volume of 1,412,113. 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 price of $20.53 and a two-hundred day moving average price of $21.95. The stock has a market cap of $1.44 billion, a P/E ratio of -7.87 and a beta of 1.67.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SDGR shares. Barclays started coverage on Schrodinger in a research report on Thursday, August 14th. They issued an "overweight" rating and a $25.00 price target for the company. Citigroup lowered Schrodinger from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $35.00 to $20.00 in a research report on Friday, August 15th. Morgan Stanley reduced their price target on Schrodinger from $28.00 to $19.00 and set an "equal weight" rating for the company in a research report on Monday, August 18th. Wall Street Zen lowered Schrodinger from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, KeyCorp reduced their price target on Schrodinger from $32.00 to $30.00 and set an "overweight" rating for the company in a research report on Monday, July 14th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average 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.