Tejara Capital Ltd Acquires 53,265 Shares of Schrodinger, Inc. $SDGR

Key Points

• Tejara Capital Ltd increased its holding in Schrodinger, Inc. by 65.8% during the first quarter, reaching a total of 134,172 shares valued at approximately $2.65 million.
• Schrodinger reported a 15.7% increase in revenue year-over-year, reaching $54.76 million for the quarter, with an EPS of ($0.59), surpassing expectations.
• Several large investors, including Stephens Investment Management and Millennium Management, have significantly increased their stakes in Schrodinger, leading to a 79.05% institutional ownership of the company's stock.

Tejara Capital Ltd raised its stake in Schrodinger, Inc. (NASDAQ:SDGR - Free Report) by 65.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 134,172 shares of the company's stock after buying an additional 53,265 shares during the quarter. Schrodinger comprises approximately 1.0% of Tejara Capital Ltd's investment portfolio, making the stock its 28th biggest holding. Tejara Capital Ltd owned 0.18% of Schrodinger worth $2,649,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SDGR. Stephens Investment Management Group LLC lifted its position in 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 during the period. Millennium Management LLC boosted its holdings in shares of Schrodinger by 42.3% during the 4th quarter. Millennium Management LLC now owns 761,653 shares of the company's stock worth $14,692,000 after buying an additional 226,536 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Schrodinger during the 1st quarter worth approximately $4,027,000. Nuveen LLC bought a new position in shares of Schrodinger in the 1st quarter worth $2,872,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Schrodinger by 4,213.0% in the 1st quarter. GAMMA Investing LLC now owns 120,592 shares of the company's stock worth $2,380,000 after purchasing an additional 117,796 shares in the last quarter. Institutional investors own 79.05% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Morgan Stanley assumed coverage on Schrodinger in a research report on Thursday, July 3rd. They set an "equal weight" rating and a $28.00 target price for the company. Citigroup lowered Schrodinger from a "buy" rating to a "neutral" rating and decreased their target price for the company from $35.00 to $20.00 in a research report on Friday. KeyCorp decreased their target price on Schrodinger from $32.00 to $30.00 and set an "overweight" rating for the company in a research report on Monday, July 14th. Finally, Barclays began coverage on Schrodinger in a report on Thursday. They issued an "overweight" rating and a $25.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $29.33.

Schrodinger Stock Performance

NASDAQ SDGR traded down $0.07 during trading hours on Friday, hitting $19.38. The company had a trading volume of 2,115,091 shares, compared to its average volume of 1,441,956. Schrodinger, Inc. has a 52 week low of $16.60 and a 52 week high of $28.47. The firm has a 50 day simple moving average of $21.14 and a 200 day simple moving average of $22.30. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -7.81 and a beta of 1.67.

Schrodinger (NASDAQ:SDGR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.24. Schrodinger had a negative net margin of 76.22% and a negative return on equity of 45.70%. The firm had revenue of $54.76 million for the quarter, compared to the consensus estimate of $52.03 million. During the same period last year, the firm posted ($0.66) earnings per share. The business's revenue was up 15.7% compared to the same quarter last year. On average, research analysts forecast that Schrodinger, Inc. will post -2.37 earnings per share for the current year.

About Schrodinger

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.