Legal & General Group Plc Invests $2.29 Million in Schrodinger, Inc. $SDGR

Key Points

• Legal & General Group Plc bought 140,875 Schrodinger shares worth approximately $2.29 million, representing a 0.19% stake. Institutional investors and hedge funds collectively own 79.05% of the company.
• Analyst sentiment remains mixed, with three Buy, three Hold and one Sell rating. The consensus rating is Hold, with an average price target of $20.50.
• Schrodinger beat quarterly expectations, reporting $0.08 in EPS versus a consensus loss estimate of $0.41 and revenue of $58.89 million versus $47.19 million expected. Revenue rose 7.5% year over year, although the company remained unprofitable and analysts expect a full-year loss of $1.55 per share.

Legal & General Group Plc purchased a new position in shares of Schrodinger, Inc. (NASDAQ:SDGR - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 140,875 shares of the company's stock, valued at approximately $2,289,000. Legal & General Group Plc owned 0.19% of Schrodinger as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings in Schrodinger by 722.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,374 shares of the company's stock valued at $25,000 after purchasing an additional 1,207 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Schrodinger during the 4th quarter worth approximately $26,000. Hantz Financial Services Inc. lifted its holdings in shares of Schrodinger by 5,025.8% in the 4th quarter. Hantz Financial Services Inc. now owns 1,589 shares of the company's stock valued at $28,000 after buying an additional 1,558 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Schrodinger in the fourth quarter valued at approximately $36,000. Finally, State of Wyoming purchased a new stake in shares of Schrodinger in the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 79.05% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. UBS Group initiated coverage on Schrodinger in a research report on Friday, August 14th. They issued a "neutral" rating and a $19.00 price objective for the company. Wall Street Zen raised shares of Schrodinger from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings upgraded shares of Schrodinger from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, August 27th. Finally, Morgan Stanley reduced their price objective on shares of Schrodinger from $19.00 to $17.00 and set an "equal weight" rating for the company in a research note on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $20.50.

Schrodinger Stock Down 3.0%

SDGR opened at $20.09 on Friday. The firm has a market cap of $1.48 billion, a P/E ratio of -27.15 and a beta of 1.69. The business's fifty day simple moving average is $17.36 and its 200 day simple moving average is $14.43. Schrodinger, Inc. has a 52 week low of $10.94 and a 52 week high of $23.02.

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. The firm had revenue of $58.89 million during the quarter, compared to the consensus estimate of $47.19 million. Schrodinger had a negative net margin of 20.98% and a negative return on equity of 16.37%. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.65) EPS. As a group, equities analysts expect that Schrodinger, Inc. will post -1.55 EPS for the current fiscal year.

Schrodinger Profile

Schrödinger, Inc is a life sciences and materials discovery company that specializes in the application of physics-based computational platforms to accelerate drug discovery and advanced materials design. Founded in 1990 by Professor Richard A. Friesner, Schrödinger has developed a suite of proprietary software tools—such as Maestro for molecular modeling, Glide for molecular docking and Jaguar for quantum chemistry calculations—that enable scientists to predict molecular behavior with high accuracy.

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