Schrodinger (NASDAQ:SDGR) Trading 9.6% Higher – Here’s Why

Schrodinger, Inc. (NASDAQ:SDGR) shares traded up 9.6% during trading on Thursday . The stock traded as high as $15.94 and last traded at $16.3680. 417,242 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 1,387,432 shares. The stock had previously closed at $14.93.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. KeyCorp cut their price objective on shares of Schrodinger from $25.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. UBS Group cut their price objective on shares of Schrodinger from $18.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, March 17th. Morgan Stanley cut their price target on shares of Schrodinger from $19.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, May 14th. Finally, Wall Street Zen downgraded shares of Schrodinger from a “hold” rating to a “strong sell” rating in a report on Saturday, May 9th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $20.25.

Schrodinger Stock Performance

The company’s 50-day moving average price is $12.58 and its two-hundred day moving average price is $14.38. The stock has a market cap of $1.06 billion, a PE ratio of -10.20 and a beta of 1.64.

Schrodinger (NASDAQ:SDGR) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.25). The company had revenue of $58.59 million for the quarter, compared to analysts’ expectations of $47.57 million. Schrodinger had a negative net margin of 40.61% and a negative return on equity of 30.85%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.82) EPS. Equities research analysts forecast that Schrodinger, Inc. will post -1.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Schrodinger

In other news, CEO Ramy Farid sold 43,000 shares of the firm’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $12.33, for a total transaction of $530,190.00. Following the sale, the chief executive officer owned 330,824 shares in the company, valued at approximately $4,079,059.92. This trade represents a 11.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.10% of the company’s stock.

Hedge Funds Weigh In On Schrodinger

A number of large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its position in Schrodinger by 11.4% in the 1st quarter. Bank of America Corp DE now owns 145,902 shares of the company’s stock worth $1,657,000 after purchasing an additional 14,970 shares during the period. ADAR1 Capital Management LLC purchased a new position in Schrodinger in the 1st quarter worth $1,153,000. Royal Bank of Canada raised its position in Schrodinger by 34.7% in the 1st quarter. Royal Bank of Canada now owns 69,464 shares of the company’s stock worth $790,000 after purchasing an additional 17,893 shares during the period. Rubric Capital Management LP raised its position in Schrodinger by 43.8% in the 1st quarter. Rubric Capital Management LP now owns 6,000,000 shares of the company’s stock worth $68,160,000 after purchasing an additional 1,828,502 shares during the period. Finally, Quantinno Capital Management LP purchased a new position in Schrodinger in the 1st quarter worth $1,978,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

About Schrodinger

Schrödinger, Inc is a life sciences and materials discovery company that specializes in the application of physics-based computational platforms to accelerate drug discovery and advanced materials design. Founded in 1990 by Professor Richard A. Friesner, Schrödinger has developed a suite of proprietary software tools—such as Maestro for molecular modeling, Glide for molecular docking and Jaguar for quantum chemistry calculations—that enable scientists to predict molecular behavior with high accuracy.