Schrödinger, Inc. (NASDAQ:SDGR) Shares Acquired by Rubric Capital Management LP

Rubric Capital Management LP lifted its position in shares of Schrödinger, Inc. (NASDAQ:SDGR) by 213.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,130,000 shares of the company’s stock after buying an additional 2,131,724 shares during the quarter. Schrödinger makes up about 1.6% of Rubric Capital Management LP’s holdings, making the stock its 26th largest position. Rubric Capital Management LP owned about 4.30% of Schrödinger worth $60,534,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC increased its position in Schrödinger by 145.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,413 shares of the company’s stock worth $27,000 after purchasing an additional 837 shares in the last quarter. GAMMA Investing LLC grew its holdings in Schrödinger by 49.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,124 shares of the company’s stock valued at $41,000 after buying an additional 703 shares during the period. PNC Financial Services Group Inc. grew its holdings in Schrödinger by 186.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,127 shares of the company’s stock valued at $76,000 after buying an additional 1,385 shares during the period. nVerses Capital LLC purchased a new stake in Schrödinger in the 2nd quarter valued at about $66,000. Finally, Quest Partners LLC purchased a new stake in Schrödinger in the 4th quarter valued at about $153,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on SDGR shares. Leerink Partners started coverage on Schrödinger in a report on Tuesday, July 2nd. They issued an “outperform” rating and a $29.00 price target for the company. Morgan Stanley reduced their price objective on Schrödinger from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 21st. Leerink Partnrs raised Schrödinger to a “strong-buy” rating in a research note on Tuesday, July 2nd. Finally, KeyCorp reduced their price objective on Schrödinger from $30.00 to $25.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $33.44.

Schrödinger Trading Down 4.8 %

Shares of NASDAQ SDGR opened at $19.85 on Friday. Schrödinger, Inc. has a twelve month low of $18.02 and a twelve month high of $38.00. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of -10.56 and a beta of 1.51. The business has a 50 day simple moving average of $20.74 and a 200-day simple moving average of $22.47.

Schrödinger (NASDAQ:SDGR) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.74) EPS for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.11. The firm had revenue of $47.33 million during the quarter, compared to the consensus estimate of $40.19 million. Schrödinger had a negative return on equity of 38.38% and a negative net margin of 100.42%. As a group, equities analysts predict that Schrödinger, Inc. will post -2.19 earnings per share for the current year.

Schrödinger Company Profile

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.