First Trust Advisors LP Buys 39,493 Shares of Schrodinger, Inc. $SDGR

First Trust Advisors LP increased its stake in shares of Schrodinger, Inc. (NASDAQ:SDGR) by 28.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 176,411 shares of the company’s stock after buying an additional 39,493 shares during the period. First Trust Advisors LP owned about 0.24% of Schrodinger worth $2,004,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. 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 valued at $653,000 after acquiring an additional 1,412 shares during the last quarter. Cetera Investment Advisers grew its position in shares of Schrodinger by 75.2% during the 2nd quarter. Cetera Investment Advisers now owns 29,973 shares of the company’s stock valued at $603,000 after acquiring an additional 12,868 shares during the period. Norges Bank purchased a new stake in shares of Schrodinger during the 2nd quarter worth approximately $311,000. Invesco Ltd. increased its stake in shares of Schrodinger by 15.6% during the 2nd quarter. Invesco Ltd. now owns 155,895 shares of the company’s stock worth $3,137,000 after purchasing an additional 21,039 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Schrodinger in the 2nd quarter worth approximately $1,284,000. Institutional investors own 79.05% of the company’s stock.

Schrodinger Stock Up 2.0%

Shares of NASDAQ:SDGR opened at $18.16 on Friday. The firm has a market capitalization of $1.34 billion, a PE ratio of -24.54 and a beta of 1.63. Schrodinger, Inc. has a twelve month low of $10.94 and a twelve month high of $23.02. The company has a 50-day moving average price of $15.69 and a two-hundred day moving average price of $13.73.

Schrodinger (NASDAQ:SDGR) last posted its earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.49. Schrodinger had a negative net margin of 20.98% and a negative return on equity of 16.37%. The firm had revenue of $58.89 million during the quarter, compared to the consensus estimate of $47.19 million. During the same quarter last year, the company earned ($0.65) earnings per share. The company’s revenue was up 7.5% on a year-over-year basis. Analysts anticipate that Schrodinger, Inc. will post -1.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SDGR shares. Weiss Ratings upgraded Schrodinger from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 29th. Wall Street Zen raised Schrodinger from a “strong sell” rating to a “hold” rating in a research report on Saturday. Finally, Morgan Stanley lowered their target price on Schrodinger from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 14th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Schrodinger presently has an average rating of “Hold” and a consensus price target of $20.25.

Schrodinger Company 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.