Schrödinger (NASDAQ:SDGR) Shares Gap Down to $25.26

Schrödinger, Inc. (NASDAQ:SDGR)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $25.26, but opened at $22.90. Schrödinger shares last traded at $23.71, with a volume of 391,654 shares changing hands.

Wall Street Analyst Weigh In

SDGR has been the subject of a number of analyst reports. TD Cowen initiated coverage on shares of Schrödinger in a research report on Friday, January 26th. They issued an “outperform” rating and a $42.00 price objective for the company. KeyCorp lowered their target price on shares of Schrödinger from $38.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, February 29th. Bank of America lowered their target price on shares of Schrödinger from $38.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, February 29th. Craig Hallum lowered their target price on shares of Schrödinger from $40.00 to $35.00 and set a “buy” rating for the company in a report on Friday, January 19th. Finally, Citigroup lowered their target price on shares of Schrödinger from $47.00 to $39.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.50.

Schrödinger Stock Down 9.9 %

The firm’s 50 day simple moving average is $26.39 and its 200-day simple moving average is $28.27. The company has a market capitalization of $1.65 billion, a PE ratio of 36.91 and a beta of 1.58.

Schrödinger (NASDAQ:SDGR) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.12. Schrödinger had a net margin of 18.79% and a negative return on equity of 23.58%. The company had revenue of $74.10 million during the quarter, compared to the consensus estimate of $79.12 million. During the same period in the previous year, the firm earned ($0.39) earnings per share. Schrödinger’s revenue for the quarter was up 30.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Schrödinger, Inc. will post -2.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Robert Lorne Abel sold 1,205 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $27.55, for a total value of $33,197.75. Following the completion of the transaction, the insider now directly owns 9,340 shares in the company, valued at $257,317. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Robert Lorne Abel sold 1,205 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $27.55, for a total value of $33,197.75. Following the sale, the insider now directly owns 9,340 shares of the company’s stock, valued at $257,317. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Kenneth Patrick Lorton sold 901 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $28.29, for a total transaction of $25,489.29. Following the sale, the chief operating officer now directly owns 36,487 shares in the company, valued at $1,032,217.23. The disclosure for this sale can be found here. Insiders sold a total of 3,651 shares of company stock worth $102,395 over the last ninety days. 7.60% of the stock is owned by company insiders.

Institutional Trading of Schrödinger

Institutional investors and hedge funds have recently modified their holdings of the business. Spire Wealth Management raised its holdings in shares of Schrödinger by 66.7% during the third quarter. Spire Wealth Management now owns 1,000 shares of the company’s stock worth $28,000 after purchasing an additional 400 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Schrödinger by 3,480.0% in the 4th quarter. International Assets Investment Management LLC now owns 1,790 shares of the company’s stock worth $64,000 after acquiring an additional 1,740 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Schrödinger in the 4th quarter worth about $67,000. PNC Financial Services Group Inc. increased its holdings in shares of Schrödinger by 186.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,127 shares of the company’s stock worth $76,000 after acquiring an additional 1,385 shares during the period. Finally, SG Americas Securities LLC increased its holdings in shares of Schrödinger by 23.4% in the 3rd quarter. SG Americas Securities LLC now owns 4,728 shares of the company’s stock worth $134,000 after acquiring an additional 896 shares during the period. 79.05% of the stock is owned by institutional investors and hedge funds.

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.