Rubric Capital Management LP Acquires 1,828,502 Shares of Schrodinger, Inc. $SDGR

Rubric Capital Management LP boosted its holdings in shares of Schrodinger, Inc. (NASDAQ:SDGR) by 43.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,000,000 shares of the company’s stock after purchasing an additional 1,828,502 shares during the period. Schrodinger accounts for approximately 0.7% of Rubric Capital Management LP’s holdings, making the stock its 29th largest holding. Rubric Capital Management LP owned approximately 0.08% of Schrodinger worth $68,160,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Schrodinger by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,055 shares of the company’s stock worth $653,000 after purchasing an additional 1,412 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of Schrodinger by 75.2% in the second quarter. Cetera Investment Advisers now owns 29,973 shares of the company’s stock valued at $603,000 after buying an additional 12,868 shares in the last quarter. Norges Bank bought a new position in shares of Schrodinger in the second quarter valued at about $311,000. Invesco Ltd. raised its holdings in shares of Schrodinger by 15.6% in the second quarter. Invesco Ltd. now owns 155,895 shares of the company’s stock valued at $3,137,000 after buying an additional 21,039 shares during the last quarter. Finally, First Trust Advisors LP acquired a new position in Schrodinger during the 2nd quarter worth about $1,227,000. Institutional investors own 79.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SDGR. Morgan Stanley decreased 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. KeyCorp dropped their target price on shares of Schrodinger from $25.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, April 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Schrodinger in a research report on Wednesday, July 15th. Finally, Wall Street Zen cut shares of Schrodinger from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 9th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $20.25.

Schrodinger Stock Up 2.1%

SDGR stock opened at $15.28 on Tuesday. The company has a market cap of $1.13 billion, a P/E ratio of -10.84 and a beta of 1.62. Schrodinger, Inc. has a twelve month low of $10.94 and a twelve month high of $23.02. The business has a fifty day moving average of $15.20 and a 200-day moving average of $13.83.

Schrodinger (NASDAQ:SDGR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.25). The firm had revenue of $58.59 million for the quarter, compared to analyst estimates of $47.57 million. Schrodinger had a negative net margin of 40.61% and a negative return on equity of 30.85%. The company’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the company earned ($0.82) EPS. As a group, equities research analysts anticipate that Schrodinger, Inc. will post -1.89 earnings per share for the current fiscal year.

Schrodinger Profile

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.