Envestnet Asset Management Inc. Grows Position in Schrodinger, Inc. (NASDAQ:SDGR)

Envestnet Asset Management Inc. increased its position in shares of Schrodinger, Inc. (NASDAQ:SDGR - Free Report) by 13.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 210,634 shares of the company's stock after purchasing an additional 24,880 shares during the period. Envestnet Asset Management Inc. owned approximately 0.29% of Schrodinger worth $4,158,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SDGR. Point72 Hong Kong Ltd purchased a new position in shares of Schrodinger during the 4th quarter worth about $27,000. GAMMA Investing LLC boosted its stake in shares of Schrodinger by 118.5% during the 1st 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 period. XTX Topco Ltd purchased a new position in shares of Schrodinger during the 4th quarter worth about $199,000. Bayesian Capital Management LP purchased a new position in shares of Schrodinger during the 4th quarter worth about $199,000. Finally, Proficio Capital Partners LLC purchased a new stake in Schrodinger in the 4th quarter valued at about $218,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Schrodinger Stock Performance

Shares of NASDAQ SDGR opened at $22.23 on Friday. The company's fifty day moving average price is $21.83 and its 200 day moving average price is $22.49. Schrodinger, Inc. has a 1 year low of $16.60 and a 1 year high of $28.47. The company has a market capitalization of $1.63 billion, a PE ratio of -8.45 and a beta of 1.58.

Schrodinger (NASDAQ:SDGR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.81) by ($0.01). The company 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 revenue for the quarter was up 62.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.86) earnings per share. On average, equities analysts expect that Schrodinger, Inc. will post -2.37 EPS for the current year.

Schrodinger Company 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.

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