Schrödinger (NASDAQ:SDGR) Trading Down 10.6% - Time to Sell?

Shares of Schrödinger, Inc. (NASDAQ:SDGR - Get Free Report) dropped 10.6% during mid-day trading on Thursday . The company traded as low as $23.01 and last traded at $23.87. Approximately 507,814 shares changed hands during trading, a decline of 55% from the average daily volume of 1,128,685 shares. The stock had previously closed at $26.69.

Analysts Set New Price Targets

SDGR has been the topic of a number of recent analyst reports. KeyCorp upped their price target on Schrödinger from $30.00 to $32.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. Piper Sandler reduced their price target on Schrödinger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Schrödinger currently has a consensus rating of "Buy" and a consensus price target of $32.80.

Schrödinger Price Performance

The stock has a market capitalization of $1.68 billion, a PE ratio of -9.76 and a beta of 1.63. The business's fifty day moving average price is $23.57 and its two-hundred day moving average price is $22.41.

Schrödinger (NASDAQ:SDGR - Get Free Report) last announced its quarterly earnings data 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). Schrödinger had a negative net margin of 91.84% and a negative return on equity of 35.77%. The company had revenue of $59.55 million for the quarter, compared to analysts' expectations of $54.60 million. During the same period last year, the firm earned ($0.86) earnings per share. Schrödinger's quarterly revenue was up 62.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Schrödinger, Inc. will post -2.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Schrödinger

In other Schrödinger news, insider Karen Akinsanya sold 16,723 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $25.09, for a total value of $419,580.07. Following the sale, the insider now directly owns 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Schrödinger

Several hedge funds have recently added to or reduced their stakes in SDGR. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Schrödinger by 169.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,357,532 shares of the company's stock worth $86,018,000 after acquiring an additional 2,737,728 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its stake in shares of Schrödinger by 108.7% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 2,464,911 shares of the company's stock worth $47,499,000 after acquiring an additional 1,283,949 shares in the last quarter. American Century Companies Inc. purchased a new stake in shares of Schrödinger during the 1st quarter worth about $19,787,000. Stephens Investment Management Group LLC boosted its stake in shares of Schrödinger by 22.5% during the 1st quarter. Stephens Investment Management Group LLC now owns 1,969,941 shares of the company's stock worth $38,887,000 after acquiring an additional 362,285 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Schrödinger by 17.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,279,313 shares of the company's stock worth $43,968,000 after acquiring an additional 334,131 shares in the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

About Schrödinger

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.