Nuveen LLC Takes Position in Schrodinger, Inc. $SDGR

Key Points

• Nuveen LLC has made a new investment in Schrodinger, Inc. ($SDGR), acquiring 145,488 shares valued at approximately $2.87 million, which represents 0.20% of the company.
• Schrodinger reported a 15.7% increase in quarterly revenue year-over-year, totaling $54.76 million, and beat earnings per share estimates with an EPS of ($0.59).
• Recent analyst ratings for Schrodinger show mixed sentiment, with Citigroup downgrading the stock while others like Barclays initiated coverage with an "overweight" rating and a price target of $25.00.

Nuveen LLC acquired a new stake in Schrodinger, Inc. (NASDAQ:SDGR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 145,488 shares of the company's stock, valued at approximately $2,872,000. Nuveen LLC owned approximately 0.20% of Schrodinger at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Invesco Ltd. boosted its stake in Schrodinger by 2.8% in the first quarter. Invesco Ltd. now owns 134,856 shares of the company's stock valued at $2,662,000 after acquiring an additional 3,734 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Schrodinger by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 511,395 shares of the company's stock valued at $10,095,000 after acquiring an additional 1,715 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in Schrodinger in the first quarter valued at $359,000. PNC Financial Services Group Inc. boosted its stake in Schrodinger by 29.9% in the first quarter. PNC Financial Services Group Inc. now owns 2,956 shares of the company's stock valued at $58,000 after acquiring an additional 680 shares in the last quarter. Finally, Monaco Asset Management SAM boosted its stake in Schrodinger by 3.1% in the first quarter. Monaco Asset Management SAM now owns 82,500 shares of the company's stock valued at $1,629,000 after acquiring an additional 2,500 shares in the last quarter. Institutional investors and hedge funds own 79.05% of the company's stock.

Analysts Set New Price Targets

SDGR has been the subject of several recent research reports. Wall Street Zen downgraded shares of Schrodinger from a "hold" rating to a "sell" rating in a research note on Saturday. Citigroup downgraded shares of Schrodinger from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $35.00 to $20.00 in a research report on Friday, August 15th. Barclays initiated coverage on shares of Schrodinger in a research report on Thursday, August 14th. They issued an "overweight" rating and a $25.00 price objective for the company. Morgan Stanley reduced their price objective on shares of Schrodinger from $28.00 to $19.00 and set an "equal weight" rating for the company in a research report on Monday, August 18th. Finally, KeyCorp reduced 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. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $27.83.

Schrodinger Stock Down 1.3%

Shares of SDGR traded down $0.25 during mid-day trading on Friday, reaching $19.51. 703,990 shares of the company's stock were exchanged, compared to its average volume of 1,412,113. The company has a 50-day simple moving average of $20.53 and a two-hundred day simple moving average of $21.95. Schrodinger, Inc. has a 52-week low of $16.60 and a 52-week high of $28.47. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -7.87 and a beta of 1.67.

Schrodinger (NASDAQ:SDGR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.59) earnings per share for the quarter, topping analysts' consensus estimates of ($0.83) by $0.24. Schrodinger had a negative net margin of 76.22% and a negative return on equity of 45.70%. The business had revenue of $54.76 million during the quarter, compared to analysts' expectations of $52.03 million. During the same period last year, the company posted ($0.66) EPS. The company's revenue was up 15.7% on a year-over-year basis. As a group, equities research analysts predict that Schrodinger, Inc. will post -2.37 EPS for the current fiscal 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.