Schrodinger, Inc. $SDGR Shares Bought by Public Sector Pension Investment Board

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 increased its holdings in Schrodinger, Inc. (NASDAQ:SDGR - Free Report) by 26.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 175,760 shares of the company's stock after purchasing an additional 37,168 shares during the period. Public Sector Pension Investment Board owned 0.24% of Schrodinger worth $3,470,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ARK Investment Management LLC boosted its holdings in Schrodinger by 3.9% in the first quarter. ARK Investment Management LLC now owns 2,294,519 shares of the company's stock valued at $45,294,000 after acquiring an additional 85,761 shares during the last quarter. Stephens Investment Management Group LLC lifted its stake in shares of Schrodinger by 22.5% during the first quarter. Stephens Investment Management Group LLC now owns 1,969,941 shares of the company's stock worth $38,887,000 after purchasing an additional 362,285 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of Schrodinger by 3.6% during the fourth quarter. Lazard Asset Management LLC now owns 1,700,909 shares of the company's stock worth $32,810,000 after purchasing an additional 58,541 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Schrodinger by 42.3% during the fourth quarter. Millennium Management LLC now owns 761,653 shares of the company's stock worth $14,692,000 after purchasing an additional 226,536 shares in the last quarter. Finally, Prosight Management LP lifted its stake in shares of Schrodinger by 2.9% during the fourth quarter. Prosight Management LP now owns 720,500 shares of the company's stock worth $13,898,000 after purchasing an additional 20,500 shares in the last quarter. Institutional investors and hedge funds own 79.05% of the company's stock.

Wall Street Analysts Forecast Growth

SDGR has been the topic of a number of recent research reports. Barclays initiated coverage on Schrodinger in a research note on Thursday, August 14th. They set an "overweight" rating and a $25.00 price objective on the stock. Citigroup cut Schrodinger from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $35.00 to $20.00 in a research note on Friday, August 15th. KeyCorp cut their price target 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 lowered their price objective on Schrodinger from $28.00 to $19.00 and set an "equal weight" rating for the company in a report on Monday, August 18th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $27.83.

Schrodinger Price Performance

SDGR stock traded up $0.74 on Friday, reaching $20.32. The company's stock had a trading volume of 1,895,835 shares, compared to its average volume of 1,444,404. Schrodinger, Inc. has a 52 week low of $16.60 and a 52 week high of $28.47. The company has a market capitalization of $1.50 billion, a P/E ratio of -8.19 and a beta of 1.67. The firm has a fifty day moving average of $20.66 and a two-hundred day moving average of $22.11.

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