Schrödinger (NASDAQ:SDGR) Trading Down 7.7%

Schrödinger, Inc. (NASDAQ:SDGR - Get Free Report) shares fell 7.7% on Wednesday . The stock traded as low as $26.25 and last traded at $26.30. 86,395 shares were traded during mid-day trading, a decline of 90% from the average session volume of 880,153 shares. The stock had previously closed at $28.50.

Wall Street Analysts Forecast Growth

SDGR has been the subject of a number of research reports. Craig Hallum reduced their price objective on Schrödinger from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Friday, January 19th. Piper Sandler lowered their price target on shares of Schrödinger from $60.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, February 29th. Citigroup reduced their price objective on shares of Schrödinger from $47.00 to $39.00 and set a "buy" rating for the company in a report on Thursday, February 29th. The Goldman Sachs Group decreased their target price on shares of Schrödinger from $29.00 to $26.00 and set a "neutral" rating on the stock in a research report on Friday, March 1st. Finally, Bank of America dropped their price target on shares of Schrödinger from $38.00 to $32.00 and set a "neutral" rating for the company in a research report on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $43.50.

Schrödinger Price Performance

The company has a market capitalization of $1.99 billion, a P/E ratio of 43.67 and a beta of 1.57. The business's 50-day moving average price is $27.45 and its two-hundred day moving average price is $28.49.

Schrödinger (NASDAQ:SDGR - Get Free Report) last posted its earnings results on Wednesday, February 28th. The company reported ($0.32) earnings per share 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 for the quarter, compared to analyst estimates of $79.12 million. During the same period in the previous year, the company posted ($0.39) earnings per share. The company's revenue for the quarter was up 30.5% on a year-over-year basis. Research analysts expect that Schrödinger, Inc. will post -2.73 earnings per share for the current fiscal year.

Insider Activity at Schrödinger

In other Schrödinger news, COO Kenneth Patrick Lorton sold 901 shares of the firm's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $28.29, for a total transaction 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 filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Robert Lorne Abel sold 1,205 shares of the 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 completion of the transaction, the insider now directly owns 9,340 shares in the company, valued at $257,317. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Kenneth Patrick Lorton sold 901 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 36,487 shares in the company, valued at approximately $1,032,217.23. The disclosure for this sale can be found here. In the last three months, insiders sold 3,651 shares of company stock worth $102,395. 7.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Schrödinger

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC increased its position in shares of Schrödinger by 8.4% in the fourth quarter. SG Americas Securities LLC now owns 5,125 shares of the company's stock valued at $183,000 after acquiring an additional 397 shares during the last quarter. Spire Wealth Management raised its stake in shares of Schrödinger by 66.7% during the 3rd quarter. Spire Wealth Management now owns 1,000 shares of the company's stock worth $28,000 after purchasing an additional 400 shares in the last quarter. Motley Fool Asset Management LLC boosted its holdings in shares of Schrödinger by 2.0% in the 3rd quarter. Motley Fool Asset Management LLC now owns 29,402 shares of the company's stock valued at $831,000 after buying an additional 570 shares during the last quarter. US Bancorp DE grew its stake in shares of Schrödinger by 69.2% in the first quarter. US Bancorp DE now owns 1,932 shares of the company's stock valued at $66,000 after buying an additional 790 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Schrödinger by 1,676.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 888 shares of the company's stock valued at $44,000 after purchasing an additional 838 shares during the period. 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.