UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 438,798 Shares of Schrodinger, Inc. $SDGR

Key Points

• UBS Asset Management cut its Schrodinger stake by 16.5% in the second quarter, selling 438,798 shares and retaining 2.22 million shares valued at approximately $36.1 million. Institutional investors collectively own 79.05% of the company.
• Analysts maintain a largely cautious view, with Schrodinger holding a consensus “Hold” rating and an average price target of $20.50. Recent targets include Morgan Stanley’s reduction to $17 and UBS’s $19 target.
• Schrodinger reported stronger-than-expected quarterly results, posting $0.08 in EPS versus a $0.41 loss estimate and revenue of $58.89 million, up 7.5% year over year, though the company remains unprofitable.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in shares of Schrodinger, Inc. (NASDAQ:SDGR - Free Report) by 16.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,221,485 shares of the company's stock after selling 438,798 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 3.01% of Schrodinger worth $36,099,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SDGR. Rubric Capital Management LP lifted its stake 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 valued at $68,160,000 after acquiring an additional 1,828,502 shares during the period. Quantinno Capital Management LP acquired a new position in Schrodinger during the 1st quarter valued at about $1,978,000. UBS Group AG boosted its stake in shares of Schrodinger by 51.3% in the 4th quarter. UBS Group AG now owns 1,442,799 shares of the company's stock valued at $25,797,000 after purchasing an additional 489,059 shares during the last quarter. Tejara Capital Ltd bought a new position in shares of Schrodinger in the 2nd quarter valued at about $4,553,000. Finally, BlackRock Inc. acquired a new stake in shares of Schrodinger during the 2nd quarter worth approximately $170,978,000. Institutional investors and hedge funds own 79.05% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SDGR shares. Morgan Stanley cut their price objective on shares of Schrodinger from $19.00 to $17.00 and set an "equal weight" rating on the stock in a report on Thursday, May 14th. UBS Group assumed coverage on shares of Schrodinger in a research report on Friday, August 14th. They set a "neutral" rating and a $19.00 target price for the company. Weiss Ratings raised Schrodinger from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, August 27th. Finally, Wall Street Zen upgraded Schrodinger from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 8th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $20.50.

Schrodinger Trading Down 0.8%

NASDAQ:SDGR opened at $20.71 on Friday. Schrodinger, Inc. has a 1 year low of $10.94 and a 1 year high of $23.02. The stock has a 50-day moving average price of $17.29 and a two-hundred day moving average price of $14.39. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of -27.99 and a beta of 1.69.

Schrodinger (NASDAQ:SDGR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.41) by $0.49. The business had revenue of $58.89 million for the quarter, compared to analysts' expectations of $47.19 million. Schrodinger had a negative net margin of 20.98% and a negative return on equity of 16.37%. The firm's revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.65) EPS. Sell-side analysts forecast that Schrodinger, Inc. will post -1.89 earnings per share for the current year.

About Schrodinger

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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