Engineers Gate Manager LP Decreases Stock Holdings in Schrodinger, Inc. $SDGR

Key Points

• Engineers Gate Manager LP cut its Schrodinger stake by 59.7% in the second quarter, selling 71,231 shares and retaining 48,150 shares valued at approximately $782,000.
• Institutional ownership remains high at 79.05%, with BlackRock initiating a roughly $171 million position and Rubric Capital increasing its holdings by 43.8%.
• Schrodinger beat quarterly expectations, reporting $0.08 EPS versus a $0.41 loss estimate and $58.89 million in revenue, but analysts maintain a consensus “Hold” rating with an average $20.50 price target.

Engineers Gate Manager LP lowered its position in shares of Schrodinger, Inc. (NASDAQ:SDGR - Free Report) by 59.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,150 shares of the company's stock after selling 71,231 shares during the period. Engineers Gate Manager LP owned 0.07% of Schrodinger worth $782,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Schrodinger in the 2nd quarter valued at about $170,978,000. Rubric Capital Management LP boosted its holdings in Schrodinger by 43.8% in the first quarter. Rubric Capital Management LP now owns 6,000,000 shares of the company's stock valued at $68,160,000 after purchasing an additional 1,828,502 shares in the last quarter. Amova Asset Management Americas Inc. boosted its holdings in Schrodinger by 13.2% in the first quarter. Amova Asset Management Americas Inc. now owns 3,190,837 shares of the company's stock valued at $36,248,000 after purchasing an additional 371,167 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Schrodinger in the second quarter valued at approximately $4,986,000. Finally, Tejara Capital Ltd purchased a new position in Schrodinger in the second quarter valued at approximately $4,553,000. Hedge funds and other institutional investors own 79.05% of the company's stock.

Schrodinger Price Performance

Shares of SDGR stock opened at $29.02 on Monday. The stock's 50-day moving average price is $18.51 and its 200 day moving average price is $15.20. The stock has a market capitalization of $2.14 billion, a PE ratio of -39.22 and a beta of 1.69. Schrodinger, Inc. has a 52-week low of $10.94 and a 52-week high of $30.41.

Schrodinger (NASDAQ:SDGR - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.49. Schrodinger had a negative return on equity of 16.37% and a negative net margin of 20.98%.The company had revenue of $58.89 million for the quarter, compared to the consensus estimate of $47.19 million. During the same period last year, the business posted ($0.65) EPS. The company's revenue was up 7.5% on a year-over-year basis. Analysts expect that Schrodinger, Inc. will post -1.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SDGR has been the subject of several research analyst reports. UBS Group assumed coverage on shares of Schrodinger in a report on Friday, August 14th. They issued a "neutral" rating and a $19.00 target price for the company. Wall Street Zen upgraded shares of Schrodinger from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Weiss Ratings raised shares of Schrodinger from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, August 27th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $20.50.

About Schrodinger

Schrödinger, Inc develops computational software designed to accelerate drug discovery and materials science research. Its platform uses physics-based modeling, machine learning and related computational methods to help scientists analyze molecular structures, predict interactions and identify potential compounds for further development.

The company's software products support a range of research activities, including molecular modeling, virtual screening, structure-based drug design, free-energy calculations and collaborative data management.

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