Connor Clark & Lunn Investment Management Ltd. Makes New $3.18 Million Investment in Schrodinger, Inc. $SDGR

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Schrodinger, Inc. (NASDAQ:SDGR) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 195,746 shares of the company’s stock, valued at approximately $3,181,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.27% of Schrodinger at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SDGR. BlackRock Inc. acquired a new stake in shares of Schrodinger in the 2nd quarter valued at about $170,978,000. Rubric Capital Management LP raised its stake in Schrodinger by 43.8% during the 1st 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 during the period. Millennium Management LLC boosted its holdings in Schrodinger by 1,075.8% in the third quarter. Millennium Management LLC now owns 1,551,721 shares of the company’s stock worth $31,128,000 after acquiring an additional 1,419,750 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in Schrodinger by 65.3% in the third quarter. Lazard Asset Management LLC now owns 2,346,441 shares of the company’s stock worth $47,070,000 after acquiring an additional 927,234 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Schrodinger by 428.3% in the second quarter. Bank of America Corp DE now owns 606,916 shares of the company’s stock valued at $12,211,000 after acquiring an additional 492,032 shares during the period. Institutional investors own 79.05% of the company’s stock.

Schrodinger Stock Performance

Shares of SDGR opened at $19.70 on Friday. The firm has a market capitalization of $1.45 billion, a P/E ratio of -26.62 and a beta of 1.63. Schrodinger, Inc. has a 52 week low of $10.94 and a 52 week high of $23.02. The stock has a 50 day moving average price of $16.89 and a two-hundred day moving average price of $14.15.

Schrodinger (NASDAQ:SDGR) last posted its earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.49. The company 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 for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.65) earnings per share. On average, equities analysts forecast that Schrodinger, Inc. will post -1.89 earnings per share for the current year.

Wall Street Analyst Weigh In

SDGR has been the subject of several recent research reports. Weiss Ratings upgraded Schrodinger from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. Morgan Stanley reduced their price target on shares of Schrodinger from $19.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, May 14th. UBS Group initiated coverage on shares of Schrodinger in a report on Friday, August 14th. They set a “neutral” rating and a $19.00 price objective on the stock. Finally, Wall Street Zen raised shares of Schrodinger from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $20.50.

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.