Schrodinger, Inc. $SDGR Shares Bought by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management significantly increased its stake in Schrodinger, Inc. by 169.0%, acquiring an additional 2,737,728 shares, bringing its total ownership to approximately 5.97% of the company, valued at $86 million.
• Analysts have varying ratings for Schrodinger, with KeyCorp setting a target price of $30, while Citigroup reduced theirs from $35 to $20, reflecting a shift to a neutral rating.
• Schrodinger's latest quarterly earnings report revealed a revenue increase of 15.7% year-over-year, with an earnings per share of ($0.59) that beat analyst expectations.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Schrodinger, Inc. (NASDAQ:SDGR - Free Report) by 169.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,357,532 shares of the company's stock after acquiring an additional 2,737,728 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 5.97% of Schrodinger worth $86,018,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new position in Schrodinger in the fourth quarter valued at $27,000. ANTIPODES PARTNERS Ltd acquired a new position in shares of Schrodinger during the first quarter worth about $37,000. PNC Financial Services Group Inc. boosted its position in shares of Schrodinger by 29.9% in the first quarter. PNC Financial Services Group Inc. now owns 2,956 shares of the company's stock worth $58,000 after buying an additional 680 shares during the period. GAMMA Investing LLC boosted its position in shares of Schrodinger by 118.5% in the first quarter. GAMMA Investing LLC now owns 6,109 shares of the company's stock worth $121,000 after buying an additional 3,313 shares during the period. Finally, Federated Hermes Inc. boosted its position in shares of Schrodinger by 100.0% in the first quarter. Federated Hermes Inc. now owns 10,000 shares of the company's stock worth $197,000 after buying an additional 5,000 shares during the period. Institutional investors and hedge funds own 79.05% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SDGR shares. Citigroup downgraded Schrodinger from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $35.00 to $20.00 in a research report on Friday, August 15th. Morgan Stanley decreased their target price on Schrodinger from $28.00 to $19.00 and set an "equal weight" rating for the company in a research report on Monday, August 18th. Wall Street Zen downgraded Schrodinger from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. 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 started coverage on Schrodinger in a research note on Thursday, August 14th. They set an "overweight" rating and a $25.00 target price for the company. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $27.83.

Schrodinger Stock Up 3.3%

NASDAQ:SDGR traded up $0.62 during trading hours on Thursday, reaching $19.65. 933,035 shares of the stock were exchanged, compared to its average volume of 922,185. The stock has a market capitalization of $1.45 billion, a P/E ratio of -7.92 and a beta of 1.79. The firm has a 50 day simple moving average of $20.03 and a 200-day simple moving average of $21.55. Schrodinger, Inc. has a 52 week low of $16.60 and a 52 week high of $28.47.

Schrodinger (NASDAQ:SDGR - Get Free Report) last issued its 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. The company had revenue of $54.76 million during the quarter, compared to analyst estimates of $52.03 million. Schrodinger had a negative return on equity of 45.70% and a negative net margin of 76.22%.The business's revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.66) EPS. As a group, analysts expect 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.