Schrödinger (NASDAQ:SDGR) Shares Down 5.4% – Here’s Why

Shares of Schrödinger, Inc. (NASDAQ:SDGR) traded down 5.4% on Tuesday . The company traded as low as $22.14 and last traded at $22.44. 224,873 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 744,017 shares. The stock had previously closed at $23.73.

Analysts Set New Price Targets

SDGR has been the subject of a number of recent analyst reports. Piper Sandler decreased their target price on Schrödinger from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. KeyCorp upped their price objective on shares of Schrödinger from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Schrödinger presently has an average rating of “Buy” and an average target price of $32.29.

Schrödinger Price Performance

The firm has a 50-day simple moving average of $22.83 and a 200 day simple moving average of $20.75. The firm has a market cap of $1.66 billion, a PE ratio of -9.69 and a beta of 1.62.

Schrödinger (NASDAQ:SDGR) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.20). The company had revenue of $88.32 million during the quarter, compared to the consensus estimate of $83.20 million. Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. Sell-side analysts forecast that Schrödinger, Inc. will post -2.37 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Geoffrey Craig Porges sold 5,491 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $21.76, for a total transaction of $119,484.16. Following the completion of the sale, the chief financial officer now owns 27,544 shares of the company’s stock, valued at $599,357.44. This represents a 16.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.60% of the company’s stock.

Institutional Trading of Schrödinger

Several large investors have recently added to or reduced their stakes in SDGR. KBC Group NV boosted its stake in shares of Schrödinger by 45.4% during the 3rd quarter. KBC Group NV now owns 2,508 shares of the company’s stock worth $47,000 after acquiring an additional 783 shares during the last quarter. Quest Partners LLC raised its stake in Schrödinger by 861.0% during the 3rd quarter. Quest Partners LLC now owns 43,773 shares of the company’s stock worth $812,000 after acquiring an additional 39,218 shares during the period. Intech Investment Management LLC bought a new position in shares of Schrödinger in the third quarter worth approximately $319,000. Massachusetts Financial Services Co. MA boosted its position in shares of Schrödinger by 58.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,945,182 shares of the company’s stock worth $36,083,000 after purchasing an additional 717,059 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Schrödinger by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 498,513 shares of the company’s stock worth $9,247,000 after purchasing an additional 19,436 shares in the last quarter. 79.05% of the stock is currently owned by 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.