Rubric Capital Management LP Purchases 1,828,502 Shares of Schrodinger, Inc. $SDGR

Key Points

• Rubric Capital Management increased its Schrodinger stake by 43.8%, purchasing 1,828,502 shares to hold 6 million shares worth approximately $68.2 million, or 8.13% of the company.
• Institutional investors own 79.05% of Schrodinger, while the stock recently traded at $15.28, within a 52-week range of $10.94 to $23.02.
• Schrodinger reported a first-quarter EPS loss of $0.81, missing estimates, although revenue of $58.59 million exceeded expectations. Analysts’ consensus rating is Hold, with an average price target of $20.25.

Rubric Capital Management LP lifted its position in Schrodinger, Inc. (NASDAQ:SDGR - Free Report) by 43.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,000,000 shares of the company's stock after purchasing an additional 1,828,502 shares during the quarter. Schrodinger accounts for 0.7% of Rubric Capital Management LP's portfolio, making the stock its 29th largest position. Rubric Capital Management LP owned about 8.13% of Schrodinger worth $68,160,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quantinno Capital Management LP bought a new stake in Schrodinger in the 1st quarter valued at $1,978,000. Entropy Technologies LP raised its stake in shares of Schrodinger by 17.9% in the 1st quarter. Entropy Technologies LP now owns 15,257 shares of the company's stock valued at $173,000 after buying an additional 2,311 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Schrodinger by 28.8% during the 1st quarter. First Trust Advisors LP now owns 176,411 shares of the company's stock worth $2,004,000 after acquiring an additional 39,493 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Schrodinger by 1,037.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,778 shares of the company's stock worth $88,000 after acquiring an additional 7,094 shares during the period. Finally, Amova Asset Management Americas Inc. boosted its position in shares of Schrodinger by 13.2% during 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. 79.05% of the stock is owned by institutional investors.

Schrodinger Stock Performance

Shares of NASDAQ SDGR opened at $15.28 on Tuesday. Schrodinger, Inc. has a 52-week low of $10.94 and a 52-week high of $23.02. The business has a fifty day moving average of $15.20 and a two-hundred day moving average of $13.83. The stock has a market cap of $1.13 billion, a PE ratio of -10.84 and a beta of 1.62.

Schrodinger (NASDAQ:SDGR - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.25). The firm had revenue of $58.59 million during the quarter, compared to the consensus estimate of $47.57 million. Schrodinger had a negative return on equity of 30.85% and a negative net margin of 40.61%.The firm's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.82) EPS. Analysts predict that Schrodinger, Inc. will post -1.89 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on SDGR. Morgan Stanley lowered their target price on shares of Schrodinger from $19.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 14th. Weiss Ratings restated a "sell (e+)" rating on shares of Schrodinger in a research note on Wednesday, July 15th. Wall Street Zen downgraded Schrodinger from a "hold" rating to a "strong sell" rating in a report on Saturday, May 9th. Finally, KeyCorp lowered their price objective on Schrodinger from $25.00 to $20.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 8th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average 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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