Morgan Stanley Begins Coverage on Schrodinger (NASDAQ:SDGR)

Morgan Stanley assumed coverage on shares of Schrodinger (NASDAQ:SDGR - Free Report) in a report published on Thursday. The brokerage issued an equal weight rating and a $28.00 price objective on the stock.

Separately, KeyCorp boosted their price objective on Schrodinger from $30.00 to $32.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th.

Schrodinger Stock Performance

SDGR stock remained flat at $20.96 during trading on Thursday. The company had a trading volume of 348,387 shares, compared to its average volume of 912,877. The business's fifty day simple moving average is $22.87 and its 200 day simple moving average is $22.31. Schrodinger has a fifty-two week low of $16.60 and a fifty-two week high of $28.47.

Schrodinger (NASDAQ:SDGR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.82) earnings per share for the quarter, missing analysts' consensus estimates of ($0.81) by ($0.01). The firm had revenue of $59.55 million for the quarter, compared to analyst estimates of $54.60 million. Schrodinger had a negative return on equity of 44.74% and a negative net margin of 83.39%. The firm's quarterly revenue was up 62.7% compared to the same quarter last year. During the same period last year, the company posted ($0.86) earnings per share. Equities analysts predict that Schrodinger will post -2.37 earnings per share for the current year.

Insiders Place Their Bets

In other Schrodinger news, insider Karen Akinsanya sold 16,723 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $25.09, for a total transaction of $419,580.07. Following the completion of the transaction, the insider directly owned 15,625 shares of the company's stock, valued at approximately $392,031.25. This represents a 51.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.60% of the company's stock.

Institutional Investors Weigh In On Schrodinger

Institutional investors have recently made changes to their positions in the stock. Point72 Hong Kong Ltd purchased a new stake in shares of Schrodinger during the fourth quarter worth $27,000. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Schrodinger during the first quarter worth $37,000. PNC Financial Services Group Inc. lifted its position in shares of Schrodinger by 29.9% during the first quarter. PNC Financial Services Group Inc. now owns 2,956 shares of the company's stock worth $58,000 after acquiring an additional 680 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Schrodinger by 118.5% during the first quarter. GAMMA Investing LLC now owns 6,109 shares of the company's stock worth $121,000 after acquiring an additional 3,313 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Schrodinger by 100.0% during the first quarter. Federated Hermes Inc. now owns 10,000 shares of the company's stock worth $197,000 after acquiring an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company's stock.

About Schrodinger

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.