IQ EQ FUND MANAGEMENT IRELAND Ltd Purchases New Stake in Schrodinger, Inc. (NASDAQ:SDGR)

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd has acquired a new position in Schrodinger, Inc., purchasing 18,178 shares valued at approximately $359,000 during the 1st quarter.
• Schrodinger reported a quarterly earnings per share of ($0.82), missing expectations, but achieved a 62.7% year-over-year revenue increase with $59.55 million in revenue.
• Analysts have set new price targets for Schrodinger, with Morgan Stanley initiating coverage at a target of $28.00 and KeyCorp lowering their target from $32.00 to $30.00.

IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in Schrodinger, Inc. (NASDAQ:SDGR - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 18,178 shares of the company's stock, valued at approximately $359,000.

Other institutional investors also recently made changes to their positions in the company. Greenwood Capital Associates LLC grew its stake in Schrodinger by 2.7% during the first quarter. Greenwood Capital Associates LLC now owns 23,139 shares of the company's stock worth $457,000 after buying an additional 612 shares during the period. United Advisor Group LLC lifted its holdings in shares of Schrodinger by 3.3% during the 4th quarter. United Advisor Group LLC now owns 19,769 shares of the company's stock valued at $381,000 after acquiring an additional 634 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Schrodinger by 29.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,956 shares of the company's stock worth $58,000 after purchasing an additional 680 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Schrodinger by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,643 shares of the company's stock worth $610,000 after purchasing an additional 1,202 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in Schrodinger in the 4th quarter valued at $27,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SDGR shares. KeyCorp decreased their target price on 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 Schrodinger in a report on Thursday, July 3rd. They issued an "equal weight" rating and a $28.00 price target for the company.

Schrodinger Stock Performance

Shares of NASDAQ SDGR traded down $0.30 during midday trading on Wednesday, reaching $19.34. 1,231,818 shares of the company's stock were exchanged, compared to its average volume of 1,004,786. The stock has a market capitalization of $1.42 billion, a PE ratio of -7.35 and a beta of 1.67. Schrodinger, Inc. has a 52-week low of $16.60 and a 52-week high of $28.47. The business's fifty day moving average price is $21.68 and its two-hundred day moving average price is $22.56.

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