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

Schrödinger, Inc. (NASDAQ:SDGR) 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.

Analyst Upgrades and Downgrades

SDGR has been the topic of several analyst reports. KeyCorp cut their price target on shares of Schrödinger from $38.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. Piper Sandler dropped their price objective 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. Bank of America dropped their price objective on shares of Schrödinger from $38.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th. The Goldman Sachs Group dropped their price objective on shares of Schrödinger from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, March 1st. Finally, Citigroup lowered their price target on shares of Schrödinger from $47.00 to $39.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $43.50.

Schrödinger Stock Performance

The firm’s 50 day moving average price is $26.39 and its two-hundred day moving average price is $28.27. The firm has a market cap of $1.65 billion, a PE ratio of 36.91 and a beta of 1.58.

Schrödinger (NASDAQ:SDGR) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.12. The firm had revenue of $74.10 million during the quarter, compared to analysts’ expectations of $79.12 million. Schrödinger had a net margin of 18.79% and a negative return on equity of 23.58%. The firm’s quarterly revenue was up 30.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.39) EPS. On average, analysts forecast that Schrödinger, Inc. will post -2.73 earnings per share for the current year.

Insider Buying and Selling

In other Schrödinger news, insider Robert Lorne Abel sold 1,205 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $27.55, for a total transaction of $33,197.75. Following the sale, the insider now directly owns 9,340 shares in the company, valued at approximately $257,317. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Schrödinger news, COO Kenneth Patrick Lorton sold 901 shares of the 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Robert Lorne Abel sold 1,205 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $27.55, for a total transaction of $33,197.75. Following the sale, 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 quarter, insiders sold 3,651 shares of company stock valued at $102,395. Company insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Schrödinger

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Baillie Gifford & Co. raised its holdings in shares of Schrödinger by 0.4% in the 1st quarter. Baillie Gifford & Co. now owns 2,612,007 shares of the company’s stock valued at $70,524,000 after purchasing an additional 9,618 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in shares of Schrödinger by 14.0% in the 1st quarter. Perigon Wealth Management LLC now owns 9,195 shares of the company’s stock valued at $248,000 after purchasing an additional 1,130 shares in the last quarter. TrueMark Investments LLC raised its holdings in shares of Schrödinger by 13.5% in the 1st quarter. TrueMark Investments LLC now owns 46,572 shares of the company’s stock valued at $1,257,000 after purchasing an additional 5,551 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Schrödinger by 186.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,127 shares of the company’s stock valued at $76,000 after purchasing an additional 1,385 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Schrödinger by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 6,776,631 shares of the company’s stock valued at $242,603,000 after purchasing an additional 77,830 shares in the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

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.