Insider Selling: Schrodinger (NASDAQ:SDGR) Insider Sells $802,570.00 in Stock

Key Points

• Insider Robert Abel sold 23,605 Schrodinger shares for $802,570 at an average price of $34. The sale was made under a pre-arranged Rule 10b5-1 plan; he retained 54,219 shares.
• Schrodinger reported quarterly EPS of -$0.50, better than the -$0.67 analyst consensus, and revenue of $64.49 million versus expectations of $47.73 million; revenue grew 18.7% year over year.
• Analyst sentiment was mixed, with four Buy, three Hold, and one Sell rating; the average price target was $26.67.

Schrodinger, Inc. (NASDAQ:SDGR - Get Free Report) insider Robert Abel sold 23,605 shares of the firm's stock in a transaction that occurred on Wednesday, November 11th. The stock was sold at an average price of $34.00, for a total transaction of $802,570.00. Following the sale, the insider owned 54,219 shares of the company's stock, valued at $1,843,446. The trade was a 30.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Schrodinger Price Performance

Shares of SDGR traded down $0.67 during trading hours on Thursday, hitting $30.85. 1,358,677 shares of the company were exchanged, compared to its average volume of 1,556,762. The company has a market capitalization of $2.28 billion, a PE ratio of -39.05 and a beta of 1.69. The firm has a fifty day simple moving average of $26.55 and a 200-day simple moving average of $17.32. Schrodinger, Inc. has a one year low of $10.94 and a one year high of $34.00.

Schrodinger (NASDAQ:SDGR - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The company reported ($0.50) earnings per share for the quarter, topping analysts' consensus estimates of ($0.67) by $0.17. The firm had revenue of $64.49 million for the quarter, compared to analysts' expectations of $47.73 million. Schrodinger had a negative return on equity of 18.12% and a negative net margin of 22.02%. Schrodinger's revenue was up 18.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.45) EPS. Sell-side analysts expect that Schrodinger, Inc. will post -1.39 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Schrodinger in the 2nd quarter worth approximately $170,978,000. Rubric Capital Management LP grew its holdings in Schrodinger by 43.8% during the first quarter. Rubric Capital Management LP now owns 6,000,000 shares of the company's stock valued at $68,160,000 after purchasing an additional 1,828,502 shares during the last quarter. Amova Asset Management Americas Inc. raised its position in shares of Schrodinger by 13.2% in the first quarter. Amova Asset Management Americas Inc. now owns 3,190,837 shares of the company's stock valued at $36,248,000 after purchasing an additional 371,167 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Schrodinger in the second quarter valued at approximately $4,986,000. Finally, Tejara Capital Ltd bought a new position in shares of Schrodinger in the second quarter valued at approximately $4,553,000. Institutional investors and hedge funds own 79.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SDGR shares. Zacks Research lowered shares of Schrodinger from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, November 3rd. Weiss Ratings raised shares of Schrodinger from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, August 27th. KeyCorp upped their target price on Schrodinger from $20.00 to $32.00 and gave the stock an "overweight" rating in a research report on Friday, October 16th. UBS Group lifted their price target on Schrodinger from $19.00 to $21.00 and gave the company a "neutral" rating in a report on Tuesday, October 20th. Finally, BMO Capital Markets boosted their price target on Schrodinger from $24.00 to $30.00 and gave the company an "outperform" rating in a research note on Monday, October 12th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $26.67.

Schrodinger Company Profile

Schrödinger, Inc. develops computational software used to support drug discovery and materials research. Its platform applies physics-based modeling, computational chemistry and machine learning to help researchers analyze molecular properties and identify promising candidates. The company's tools are used by pharmaceutical and biotechnology companies, academic institutions and other research organizations. Alongside software sales and subscriptions, Schrödinger works with partners on drug discovery programs and advances a portfolio of its own therapeutic candidates.

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