Schrödinger (NASDAQ:SDGR) Shares Gap Down to $25.26

Shares of Schrödinger, Inc. (NASDAQ:SDGR - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $25.26, but opened at $22.90. Schrödinger shares last traded at $23.71, with a volume of 391,654 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SDGR shares. Piper Sandler reduced their price objective on shares of Schrödinger from $60.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, February 29th. KeyCorp reduced their price objective on shares of Schrödinger from $38.00 to $33.00 and set an "overweight" rating on the stock in a research note on Thursday, February 29th. TD Cowen initiated coverage on shares of Schrödinger in a research note on Friday, January 26th. They issued an "outperform" rating and a $42.00 price objective on the stock. Bank of America reduced their price target on shares of Schrödinger from $38.00 to $32.00 and set a "neutral" rating on the stock in a research report on Thursday, February 29th. Finally, Craig Hallum reduced their price target on shares of Schrödinger from $35.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $42.80.

Schrödinger Stock Performance

The firm has a market capitalization of $1.68 billion, a P/E ratio of 36.43 and a beta of 1.58. The firm's 50-day moving average is $26.39 and its 200 day moving average is $28.27.

Schrödinger (NASDAQ:SDGR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.12. Schrödinger had a net margin of 18.79% and a negative return on equity of 23.58%. The business had revenue of $74.10 million for the quarter, compared to analysts' expectations of $79.12 million. During the same period in the previous year, the firm posted ($0.39) EPS. The firm's revenue was up 30.5% compared to the same quarter last year. As a group, research analysts expect that Schrödinger, Inc. will post -2.73 EPS for the current fiscal year.

Insider Buying and Selling at Schrödinger

In other Schrödinger news, COO Kenneth Patrick Lorton sold 901 shares of Schrödinger stock in a transaction on Monday, February 12th. The shares were sold at an average price of $28.29, for a total value of $25,489.29. Following the sale, the chief operating officer now directly owns 36,487 shares in the company, valued at approximately $1,032,217.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Kenneth Patrick Lorton sold 901 shares of the business's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $28.29, for a total transaction of $25,489.29. Following the transaction, the chief operating officer now directly owns 36,487 shares in the company, valued at approximately $1,032,217.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Lorne Abel sold 1,205 shares of the business's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $27.55, for a total transaction of $33,197.75. Following the transaction, the insider now owns 9,340 shares in the company, valued at $257,317. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,651 shares of company stock worth $102,395. Insiders own 7.60% of the company's stock.

Institutional Trading of Schrödinger

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Schrödinger by 60.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,300,750 shares of the company's stock worth $82,367,000 after acquiring an additional 865,867 shares during the period. Fred Alger Management LLC increased its position in Schrödinger by 2,504.0% in the 3rd quarter. Fred Alger Management LLC now owns 691,840 shares of the company's stock valued at $19,558,000 after acquiring an additional 665,272 shares during the period. Iron Triangle Partners LP acquired a new position in Schrödinger in the 4th quarter valued at approximately $16,775,000. Norges Bank acquired a new position in Schrödinger in the 4th quarter valued at approximately $8,530,000. Finally, DekaBank Deutsche Girozentrale increased its position in Schrödinger by 1,137.3% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 248,700 shares of the company's stock valued at $9,159,000 after acquiring an additional 228,600 shares during the period. 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.