Schrödinger (NASDAQ:SDGR) Shares Down 5.4% – What’s Next?

Schrödinger, Inc. (NASDAQ:SDGR) dropped 5.4% during mid-day trading on Tuesday . The stock traded as low as $22.14 and last traded at $22.44. Approximately 224,873 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 744,017 shares. The stock had previously closed at $23.73.

Wall Street Analyst Weigh In

A number of research firms have commented on SDGR. Piper Sandler lowered their price target on Schrödinger from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. KeyCorp boosted their target price on Schrödinger from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $32.29.

Schrödinger Price Performance

The company has a 50 day moving average of $22.75 and a two-hundred day moving average of $20.72. The company has a market capitalization of $1.62 billion, a PE ratio of -9.42 and a beta of 1.62.

Schrödinger (NASDAQ:SDGR) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.20). Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. The business had revenue of $88.32 million during the quarter, compared to the consensus estimate of $83.20 million. On average, equities analysts anticipate that Schrödinger, Inc. will post -2.37 EPS for the current year.

Insider Buying and Selling

In related news, CFO Geoffrey Craig Porges sold 5,491 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $21.76, for a total transaction of $119,484.16. Following the sale, the chief financial officer now directly owns 27,544 shares of the company’s stock, valued at approximately $599,357.44. This represents a 16.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Schrödinger

Institutional investors have recently made changes to their positions in the company. Avanza Fonder AB bought a new position in Schrödinger in the 4th quarter valued at approximately $577,000. Barclays PLC raised its stake in shares of Schrödinger by 421.6% in the third quarter. Barclays PLC now owns 107,554 shares of the company’s stock worth $1,995,000 after purchasing an additional 86,933 shares during the last quarter. State Street Corp lifted its holdings in shares of Schrödinger by 1.8% during the third quarter. State Street Corp now owns 2,155,620 shares of the company’s stock valued at $39,987,000 after purchasing an additional 38,972 shares in the last quarter. Quest Partners LLC boosted its position in shares of Schrödinger by 861.0% during the third quarter. Quest Partners LLC now owns 43,773 shares of the company’s stock valued at $812,000 after buying an additional 39,218 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in Schrödinger by 60.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,510,518 shares of the company’s stock worth $67,718,000 after buying an additional 1,319,464 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

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.