Principal Financial Group Inc. Purchases 6,266 Shares of Schrodinger, Inc. (NASDAQ:SDGR)

Principal Financial Group Inc. increased its holdings in shares of Schrodinger, Inc. (NASDAQ:SDGR) by 2.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 276,715 shares of the company’s stock after acquiring an additional 6,266 shares during the period. Principal Financial Group Inc. owned approximately 0.38% of Schrodinger worth $5,462,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Point72 Hong Kong Ltd bought a new position in Schrodinger during the 4th quarter valued at about $27,000. GAMMA Investing LLC lifted its position in Schrodinger by 118.5% during the first quarter. GAMMA Investing LLC now owns 6,109 shares of the company’s stock valued at $121,000 after purchasing an additional 3,313 shares during the period. XTX Topco Ltd bought a new position in Schrodinger during the fourth quarter valued at approximately $199,000. Bayesian Capital Management LP purchased a new stake in Schrodinger in the fourth quarter worth approximately $199,000. Finally, Proficio Capital Partners LLC bought a new stake in Schrodinger in the 4th quarter worth approximately $218,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SDGR shares. Morgan Stanley started coverage on Schrodinger in a report on Thursday, July 3rd. They set an “equal weight” rating and a $28.00 price target on the stock. KeyCorp lowered their target price on Schrodinger from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday.

Schrodinger Stock Performance

NASDAQ SDGR opened at $21.25 on Thursday. The business’s fifty day moving average is $22.03 and its 200 day moving average is $22.38. Schrodinger, Inc. has a fifty-two week low of $16.60 and a fifty-two week high of $28.47. The company has a market capitalization of $1.56 billion, a PE ratio of -8.08 and a beta of 1.58.

Schrodinger (NASDAQ:SDGR) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.01). The company had revenue of $59.55 million for the quarter, compared to analysts’ expectations of $54.60 million. Schrodinger had a negative net margin of 83.39% and a negative return on equity of 44.74%. The firm’s quarterly revenue was up 62.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.86) earnings per share. On average, sell-side analysts forecast that Schrodinger, Inc. will post -2.37 EPS for the current year.

Schrodinger 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.