Quantinno Capital Management LP Buys Shares of 174,095 Schrodinger, Inc. $SDGR

Key Points

• Quantinno Capital Management initiated a position of 174,095 Schrodinger shares worth approximately $1.98 million, joining other institutions that increased their holdings. Institutional investors collectively own 79.05% of SDGR.
• Schrodinger reported quarterly EPS of $0.08, beating estimates by $0.49, while revenue of $58.89 million exceeded forecasts and rose 7.5% year over year. However, the company remains unprofitable, with a negative net margin of 20.98%.
• SDGR shares opened at $18.65, above their 50-day and 200-day moving averages. Analysts maintain a consensus “Hold” rating with an average price target of $20.25.

Quantinno Capital Management LP bought a new position in shares of Schrodinger, Inc. (NASDAQ:SDGR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 174,095 shares of the company's stock, valued at approximately $1,978,000. Quantinno Capital Management LP owned approximately 0.24% of Schrodinger at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SDGR. Entropy Technologies LP increased its holdings in Schrodinger by 17.9% during the 1st quarter. Entropy Technologies LP now owns 15,257 shares of the company's stock worth $173,000 after acquiring an additional 2,311 shares during the period. First Trust Advisors LP grew its position in Schrodinger by 28.8% during the first quarter. First Trust Advisors LP now owns 176,411 shares of the company's stock worth $2,004,000 after buying an additional 39,493 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Schrodinger by 1,037.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,778 shares of the company's stock valued at $88,000 after acquiring an additional 7,094 shares in the last quarter. Amova Asset Management Americas Inc. raised its holdings in shares of Schrodinger by 13.2% in the 1st quarter. Amova Asset Management Americas Inc. now owns 3,190,837 shares of the company's stock valued at $36,248,000 after acquiring an additional 371,167 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Schrodinger by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 274,458 shares of the company's stock valued at $3,118,000 after acquiring an additional 6,098 shares during the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Schrodinger Price Performance

SDGR opened at $18.65 on Wednesday. Schrodinger, Inc. has a 1 year low of $10.94 and a 1 year high of $23.02. The stock's 50 day simple moving average is $15.82 and its 200 day simple moving average is $13.74. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of -25.20 and a beta of 1.63.

Schrodinger (NASDAQ:SDGR - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.41) by $0.49. The company had revenue of $58.89 million for 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 period in the previous year, the firm earned ($0.65) earnings per share. As a group, sell-side analysts anticipate that Schrodinger, Inc. will post -1.94 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Morgan Stanley cut their price objective on Schrodinger from $19.00 to $17.00 and set an "equal weight" rating for the company in a report on Thursday, May 14th. Wall Street Zen upgraded shares of Schrodinger from a "strong sell" rating to a "hold" rating in a research report on Saturday. Finally, Weiss Ratings raised shares of Schrodinger from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, July 29th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $20.25.

Schrodinger Company 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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