Schrödinger (NASDAQ:SDGR) Shares Gap Down After Analyst Downgrade

Schrödinger, Inc. (NASDAQ:SDGR) gapped down prior to trading on Thursday after Citigroup lowered their price target on the stock from $39.00 to $37.00. The stock had previously closed at $25.26, but opened at $22.90. Citigroup currently has a buy rating on the stock. Schrödinger shares last traded at $23.71, with a volume of 391,654 shares.

A number of other equities research analysts have also weighed in on the company. Craig Hallum decreased their target price on Schrödinger from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday. The Goldman Sachs Group cut their target price on Schrödinger from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, March 1st. Bank of America reduced their price target on Schrödinger from $38.00 to $32.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. KeyCorp decreased their price objective on shares of Schrödinger from $38.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Finally, TD Cowen started coverage on Schrödinger in a research note on Friday, January 26th. They issued an “outperform” rating and a $42.00 target price for the company. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.80.

Insider Activity

In related news, COO Kenneth Patrick Lorton sold 901 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $28.29, for a total value of $25,489.29. Following the completion of the transaction, the chief operating officer now owns 36,487 shares of the company’s stock, valued at approximately $1,032,217.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Schrödinger news, insider Robert Lorne Abel sold 1,205 shares of Schrödinger stock in a transaction on Monday, February 12th. The shares were sold at an average price of $27.55, for a total transaction of $33,197.75. Following the sale, the insider now owns 9,340 shares of the company’s stock, valued at approximately $257,317. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Kenneth Patrick Lorton sold 901 shares of the business’s 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 transaction, the chief operating officer now 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 valued at $102,395 in the last three months. 7.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Schrödinger

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. grew its holdings in shares of Schrödinger by 70.2% in the first quarter. Geneos Wealth Management Inc. now owns 37,126 shares of the company’s stock valued at $1,002,000 after purchasing an additional 15,310 shares during the period. GSA Capital Partners LLP boosted its stake in Schrödinger by 127.7% during the first quarter. GSA Capital Partners LLP now owns 39,604 shares of the company’s stock worth $1,069,000 after buying an additional 22,210 shares during the period. Baillie Gifford & Co. increased its position in shares of Schrödinger by 0.4% during the first quarter. Baillie Gifford & Co. now owns 2,612,007 shares of the company’s stock valued at $70,524,000 after acquiring an additional 9,618 shares during the last quarter. Perigon Wealth Management LLC raised its stake in shares of Schrödinger by 14.0% in the 1st quarter. Perigon Wealth Management LLC now owns 9,195 shares of the company’s stock valued at $248,000 after acquiring an additional 1,130 shares during the period. Finally, TrueMark Investments LLC raised its position in Schrödinger by 13.5% in the first quarter. TrueMark Investments LLC now owns 46,572 shares of the company’s stock valued at $1,257,000 after purchasing an additional 5,551 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.

Schrödinger Stock Up 2.1 %

The company has a fifty day moving average of $26.23 and a 200-day moving average of $28.23.

Schrödinger (NASDAQ:SDGR) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.12. The company had revenue of $74.10 million for the quarter, compared to analyst estimates of $79.12 million. Schrödinger had a negative return on equity of 29.25% and a negative net margin of 75.94%. Schrödinger’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.39) EPS. As a group, research analysts forecast that Schrödinger, Inc. will post -2.73 earnings per share for the current fiscal year.

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.