Squarepoint Ops LLC Buys 155,556 Shares of Schrodinger, Inc. $SDGR

Key Points

• Squarepoint Ops LLC increased its Schrodinger stake by 290.4% in the second quarter, purchasing 155,556 additional shares for a total of 209,123 shares valued at approximately $3.4 million.
• Institutional ownership remains high at 79.05%, with BlackRock initiating a roughly $171 million position and several other major investors expanding their holdings.
• Analysts assign Schrodinger an average “Hold” rating and a $20.50 price target. The company beat quarterly earnings and revenue estimates, reporting $0.08 EPS and $58.89 million in revenue, up 7.5% year over year.

Squarepoint Ops LLC increased its stake in shares of Schrodinger, Inc. (NASDAQ:SDGR - Free Report) by 290.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,123 shares of the company's stock after purchasing an additional 155,556 shares during the quarter. Squarepoint Ops LLC owned approximately 0.28% of Schrodinger worth $3,398,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Schrodinger during the second quarter worth $170,978,000. Rubric Capital Management LP increased its holdings in shares of Schrodinger by 43.8% during the first quarter. Rubric Capital Management LP now owns 6,000,000 shares of the company's stock worth $68,160,000 after buying an additional 1,828,502 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Schrodinger by 12.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,717,890 shares of the company's stock valued at $66,476,000 after acquiring an additional 414,231 shares during the last quarter. Amova Asset Management Americas Inc. lifted its stake 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 during the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in shares of Schrodinger by 65.3% during the 3rd quarter. Lazard Asset Management LLC now owns 2,346,441 shares of the company's stock valued at $47,070,000 after acquiring an additional 927,234 shares in the last quarter. Institutional investors own 79.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SDGR shares. Wall Street Zen upgraded Schrodinger from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 8th. UBS Group began coverage on Schrodinger in a report on Friday, August 14th. They set a "neutral" rating and a $19.00 price target on the stock. Finally, Weiss Ratings raised Schrodinger from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, August 27th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $20.50.

Schrodinger Price Performance

NASDAQ SDGR opened at $19.02 on Friday. The stock has a market capitalization of $1.40 billion, a P/E ratio of -25.70 and a beta of 1.69. The business has a 50 day simple moving average of $17.62 and a 200 day simple moving average of $14.71. Schrodinger, Inc. has a one year low of $10.94 and a one year high of $23.02.

Schrodinger (NASDAQ:SDGR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.49. The firm had revenue of $58.89 million for the quarter, compared to analyst estimates of $47.19 million. Schrodinger had a negative return on equity of 16.37% and a negative net margin of 20.98%.The company's revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.65) earnings per share. Equities analysts expect that Schrodinger, Inc. will post -1.5 earnings per share for the current year.

Schrodinger Company Profile

Schrödinger, Inc develops computational software designed to accelerate drug discovery and materials science research. Its platform uses physics-based modeling, machine learning and related computational methods to help scientists analyze molecular structures, predict interactions and identify potential compounds for further development.

The company's software products support a range of research activities, including molecular modeling, virtual screening, structure-based drug design, free-energy calculations and collaborative data management.

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