Public Sector Pension Investment Board Buys 37,168 Shares of Schrodinger, Inc. $SDGR

Key Points

• The Public Sector Pension Investment Board increased its stake in Schrodinger, Inc. by 26.8%, owning 175,760 shares valued at approximately $3.47 million after additional purchases in Q1.
• Schrodinger reported a quarterly revenue of $54.76 million, exceeding analysts' expectations and showing a 15.7% increase compared to the previous year.
• Equities analysts have mixed views on Schrodinger, with recent downgrades from Citigroup and Morgan Stanley, while Barclays set an "overweight" rating, indicating a potential future increase in stock value.

Public Sector Pension Investment Board boosted its holdings in shares of Schrodinger, Inc. (NASDAQ:SDGR - Free Report) by 26.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 175,760 shares of the company's stock after purchasing an additional 37,168 shares during the quarter. Public Sector Pension Investment Board owned about 0.24% of Schrodinger worth $3,470,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SDGR. JPMorgan Chase & Co. raised its stake in Schrodinger by 2.3% during the 4th quarter. JPMorgan Chase & Co. now owns 125,479 shares of the company's stock valued at $2,420,000 after purchasing an additional 2,777 shares during the period. Envestnet Asset Management Inc. raised its stake in Schrodinger by 6.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 185,754 shares of the company's stock valued at $3,583,000 after purchasing an additional 11,343 shares during the period. Raymond James Financial Inc. bought a new stake in Schrodinger during the 4th quarter valued at approximately $325,000. XTX Topco Ltd bought a new stake in Schrodinger during the 4th quarter valued at approximately $199,000. Finally, CANADA LIFE ASSURANCE Co raised its stake in Schrodinger by 4.2% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 72,765 shares of the company's stock valued at $1,402,000 after purchasing an additional 2,904 shares during the period. Institutional investors own 79.05% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Citigroup downgraded Schrodinger from a "buy" rating to a "neutral" rating and decreased their target price for the company from $35.00 to $20.00 in a research note on Friday, August 15th. Barclays began coverage on Schrodinger in a research note on Thursday, August 14th. They issued an "overweight" rating and a $25.00 price objective on the stock. KeyCorp reduced their price objective on Schrodinger from $32.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, July 14th. Finally, Morgan Stanley reduced their price objective on Schrodinger from $28.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Monday. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $27.83.

Schrodinger Stock Performance

NASDAQ:SDGR traded up $0.74 during trading hours on Friday, reaching $20.32. The stock had a trading volume of 1,895,835 shares, compared to its average volume of 1,172,981. The stock has a market capitalization of $1.50 billion, a PE ratio of -8.19 and a beta of 1.67. The company has a 50 day moving average price of $20.68 and a two-hundred day moving average price of $22.19. Schrodinger, Inc. has a 52 week low of $16.60 and a 52 week high of $28.47.

Schrodinger (NASDAQ:SDGR - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.24. The firm had revenue of $54.76 million for the quarter, compared to the consensus estimate of $52.03 million. Schrodinger had a negative return on equity of 45.70% and a negative net margin of 76.22%.The company's revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.66) EPS. Equities research analysts predict that Schrodinger, Inc. will post -2.37 EPS for the current 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.