Schrödinger (NASDAQ:SDGR) Stock Price Up 4.4%

Schrödinger, Inc. (NASDAQ:SDGR - Get Free Report) shares rose 4.4% during mid-day trading on Thursday . The company traded as high as $26.38 and last traded at $25.99. Approximately 419,196 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 888,913 shares. The stock had previously closed at $24.89.

Analysts Set New Price Targets

SDGR has been the subject of a number of research reports. TD Cowen initiated coverage on Schrödinger in a report on Friday, January 26th. They issued an "outperform" rating and a $42.00 price objective for the company. Piper Sandler lowered their target price on Schrödinger from $60.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, February 29th. The Goldman Sachs Group lowered their target price on Schrödinger from $29.00 to $26.00 and set a "neutral" rating for the company in a research note on Friday, March 1st. Craig Hallum lowered their target price on Schrödinger from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Friday, January 19th. Finally, Bank of America lowered their target price on Schrödinger from $38.00 to $32.00 and set a "neutral" rating for the company in a research note on Thursday, February 29th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $43.50.

Schrödinger Stock Performance

The business has a 50-day simple moving average of $27.43 and a 200 day simple moving average of $28.59. The firm has a market cap of $1.88 billion, a P/E ratio of 41.35 and a beta of 1.57.

Schrödinger (NASDAQ:SDGR - Get Free Report) last announced its earnings results on Wednesday, February 28th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.12. Schrödinger had a negative return on equity of 23.58% and a net margin of 18.79%. The firm had revenue of $74.10 million during the quarter, compared to analyst estimates of $79.12 million. During the same quarter in the prior year, the company earned ($0.39) EPS. The business's revenue was up 30.5% compared to the same quarter last year. On average, research analysts expect that Schrödinger, Inc. will post -2.65 EPS for the current year.

Insider Buying and Selling

In related news, insider Robert Lorne Abel sold 1,205 shares of the company's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $27.55, for a total value of $33,197.75. Following the sale, the insider now owns 9,340 shares in the company, valued at approximately $257,317. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Kenneth Patrick Lorton sold 901 shares of the firm's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $28.29, for a total value of $25,489.29. Following the transaction, the chief operating officer now directly owns 36,487 shares of the company's stock, valued at approximately $1,032,217.23. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Robert Lorne Abel sold 1,205 shares of the firm's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $27.55, for a total value of $33,197.75. Following the completion of the transaction, the insider now directly owns 9,340 shares in the company, valued at $257,317. The disclosure for this sale can be found here. Insiders have sold 3,651 shares of company stock worth $102,395 in the last 90 days. Insiders own 7.60% of the company's stock.

Institutional Investors Weigh In On Schrödinger

Institutional investors and hedge funds have recently bought and sold shares of the business. ARK Investment Management LLC raised its holdings in Schrödinger by 7.7% during the fourth quarter. ARK Investment Management LLC now owns 3,053,521 shares of the company's stock valued at $109,316,000 after acquiring an additional 217,618 shares during the period. Illinois Municipal Retirement Fund bought a new stake in Schrödinger during the third quarter valued at about $905,000. TrueMark Investments LLC purchased a new position in shares of Schrödinger during the fourth quarter valued at about $1,469,000. Avidity Partners Management LP grew its position in shares of Schrödinger by 45.1% during the third quarter. Avidity Partners Management LP now owns 399,000 shares of the company's stock valued at $11,280,000 after purchasing an additional 124,100 shares in the last quarter. Finally, Integrated Advisors Network LLC grew its position in shares of Schrödinger by 75.0% during the third quarter. Integrated Advisors Network LLC now owns 150,514 shares of the company's stock valued at $4,255,000 after purchasing an additional 64,489 shares in the last quarter. 79.05% of the stock is owned by institutional investors.

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.