Schrödinger (NASDAQ:SDGR) Trading Down 7.7%

Schrödinger, Inc. (NASDAQ:SDGR) traded down 7.7% during mid-day trading on Wednesday . The stock traded as low as $26.25 and last traded at $26.30. 86,395 shares were traded during trading, a decline of 90% from the average session volume of 880,153 shares. The stock had previously closed at $28.50.

Analyst Ratings Changes

Several analysts have issued reports on the company. Craig Hallum dropped their target price on Schrödinger from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, January 19th. TD Cowen began coverage on Schrödinger in a research report on Friday, January 26th. They issued an “outperform” rating and a $42.00 price objective for the company. Citigroup lowered their price objective on Schrödinger from $47.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Piper Sandler lowered their price objective on Schrödinger from $60.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Finally, Bank of America lowered their price objective on Schrödinger from $38.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Schrödinger currently has a consensus rating of “Moderate Buy” and an average price target of $43.50.

Schrödinger Stock Performance

The company has a market cap of $1.98 billion, a PE ratio of 43.46 and a beta of 1.57. The stock has a 50 day moving average of $27.46 and a 200-day moving average of $28.48.

Schrödinger (NASDAQ:SDGR) last issued its earnings results on Wednesday, February 28th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.12. The company had revenue of $74.10 million during the quarter, compared to analyst estimates of $79.12 million. Schrödinger had a negative return on equity of 23.58% and a net margin of 18.79%. The firm’s quarterly revenue was up 30.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.39) EPS. Equities research analysts forecast that Schrödinger, Inc. will post -2.73 EPS for the current year.

Insider Buying and Selling

In other Schrödinger news, insider Robert Lorne Abel sold 1,205 shares of Schrödinger stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $27.55, for a total transaction of $33,197.75. Following the completion of the transaction, the insider now owns 9,340 shares in the company, valued at approximately $257,317. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Schrödinger news, COO Kenneth Patrick Lorton sold 901 shares of Schrödinger stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $28.29, for a total transaction of $25,489.29. Following the completion of the transaction, the chief operating officer now owns 36,487 shares in the company, valued at approximately $1,032,217.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Lorne Abel sold 1,205 shares of Schrödinger stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $27.55, for a total value of $33,197.75. Following the transaction, the insider now owns 9,340 shares of the company’s stock, valued at approximately $257,317. The disclosure for this sale can be found here. Insiders sold 3,651 shares of company stock worth $102,395 in the last 90 days. Insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Schrödinger

Several institutional investors and hedge funds have recently modified their holdings of SDGR. Arete Wealth Advisors LLC purchased a new position in shares of Schrödinger in the 1st quarter valued at about $25,000. Creative Planning purchased a new position in shares of Schrödinger in the 3rd quarter valued at about $27,000. Spire Wealth Management increased its stake in shares of Schrödinger by 66.7% in the 3rd quarter. Spire Wealth Management now owns 1,000 shares of the company’s stock valued at $28,000 after purchasing an additional 400 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Schrödinger by 1,676.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 888 shares of the company’s stock valued at $44,000 after purchasing an additional 838 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in shares of Schrödinger by 260.0% in the 3rd quarter. National Bank of Canada FI now owns 1,800 shares of the company’s stock valued at $49,000 after purchasing an additional 1,300 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

About Schrödinger

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.