Schrodinger, Inc. $SDGR Shares Sold by Lazard Asset Management LLC

Key Points

• Lazard Asset Management cut its Schrodinger stake by 90% in the first quarter, selling 1.92 million shares and retaining 212,485 shares worth about $2.4 million. Institutional investors and hedge funds still own 79.05% of the company.
• Analysts have reduced their outlook, with Morgan Stanley lowering its target to $17 and KeyCorp to $20. Schrodinger has a consensus rating of “Hold” and an average price target of $20.25.
• Schrodinger reported a quarterly loss of $0.81 per share, missing estimates of a $0.56 loss, while revenue of $58.59 million exceeded expectations but declined 1.6% year over year.

Lazard Asset Management LLC trimmed its stake in Schrodinger, Inc. (NASDAQ:SDGR - Free Report) by 90.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 212,485 shares of the company's stock after selling 1,922,483 shares during the period. Lazard Asset Management LLC owned approximately 0.29% of Schrodinger worth $2,414,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its stake in Schrodinger by 722.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,374 shares of the company's stock valued at $25,000 after acquiring an additional 1,207 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Schrodinger during the fourth quarter worth about $26,000. Hantz Financial Services Inc. increased its position in shares of Schrodinger by 5,025.8% during the fourth quarter. Hantz Financial Services Inc. now owns 1,589 shares of the company's stock worth $28,000 after purchasing an additional 1,558 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Schrodinger during the fourth quarter worth about $36,000. Finally, State of Wyoming purchased a new stake in shares of Schrodinger in the 2nd quarter valued at about $39,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wall Street Zen cut Schrodinger from a "hold" rating to a "strong sell" rating in a research report on Saturday, May 9th. Morgan Stanley cut their price target on Schrodinger from $19.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 14th. Weiss Ratings upgraded Schrodinger from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday. Finally, KeyCorp decreased their price objective on Schrodinger from $25.00 to $20.00 and set an "overweight" rating for the company in a report on Wednesday, April 8th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $20.25.

Schrodinger Stock Performance

NASDAQ SDGR opened at $15.14 on Monday. The firm's fifty day moving average is $15.40 and its two-hundred day moving average is $13.74. Schrodinger, Inc. has a one year low of $10.94 and a one year high of $23.02. The firm has a market cap of $1.12 billion, a PE ratio of -10.74 and a beta of 1.62.

Schrodinger (NASDAQ:SDGR - Get Free Report) last announced 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). Schrodinger had a negative return on equity of 30.85% and a negative net margin of 40.61%.The business had revenue of $58.59 million for the quarter, compared to analyst estimates of $47.57 million. During the same quarter last year, the company posted ($0.82) EPS. Schrodinger's quarterly revenue was down 1.6% on a year-over-year basis. Research analysts predict that Schrodinger, Inc. will post -1.89 earnings per share for the current year.

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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