Schrödinger (NASDAQ:SDGR) Shares Down 10.6% - Here's What Happened

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

Analyst Ratings Changes

A number of research analysts recently issued reports on SDGR shares. Piper Sandler decreased their price target on shares of Schrödinger from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. KeyCorp lifted their price objective on shares of Schrödinger from $30.00 to $32.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $32.80.

Schrödinger Price Performance

The firm has a 50 day moving average of $23.64 and a two-hundred day moving average of $22.41. The stock has a market cap of $1.57 billion, a PE ratio of -9.16 and a beta of 1.63.

Schrödinger (NASDAQ:SDGR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.81) by ($0.01). Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. The company had revenue of $59.55 million for the quarter, compared to analyst estimates of $54.60 million. During the same quarter in the prior year, the business earned ($0.86) earnings per share. Schrödinger's revenue was up 62.7% compared to the same quarter last year. As a group, equities analysts anticipate that Schrödinger, Inc. will post -2.37 EPS for the current fiscal year.

Insider Activity

In other news, insider Karen Akinsanya sold 16,723 shares of Schrödinger 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 transaction, the insider now directly owns 15,625 shares of the company's stock, valued at $392,031.25. The trade was a 51.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 8.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Hong Kong Ltd acquired a new stake in shares of Schrödinger during the fourth quarter worth about $27,000. ANTIPODES PARTNERS Ltd purchased a new stake in Schrödinger during the 1st quarter valued at approximately $37,000. Paradigm Asset Management Co. LLC acquired a new stake in Schrödinger during the 4th quarter worth approximately $50,000. PNC Financial Services Group Inc. grew its stake in shares of Schrödinger by 29.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,956 shares of the company's stock valued at $58,000 after purchasing an additional 680 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Schrödinger by 118.5% in the 1st quarter. GAMMA Investing LLC now owns 6,109 shares of the company's stock valued at $121,000 after purchasing an additional 3,313 shares during 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.