Schrodinger tumbles on Q4 revenue miss

Schrodinger

29/02/2024 14:19

** Shares of healthcare-based software co Schrodinger
 SDGR.O  fall 13.1% to $27.26 premarket
    ** Q4 revenue of $74.10 mln misses Wall Street view of $79
mln - LSEG data
    ** Quarterly net loss increases to $30.70 mln, compared to a
loss of $27.2 mln in the fourth quarter of 2022
    ** Co also files for mixed shelf offering; size not
disclosed - SEC filing
    ** At least four brokerages slash price target on the stock
post results
    ** Seven of ten brokerages rate the stock "buy" or higher,
three "hold"; their median PT is $38
    ** Up to Wednesday's close, stock had fallen 12.4% YTD;
compared with ~92% increase in 2023

 (Reporting by Khushi Singh in Bengaluru)
 ((Khushi.Singh@thomsonreuters.com;))