Schrödinger (NASDAQ:SDGR) Shares Down 4.5% – Here’s Why

Shares of Schrödinger, Inc. (NASDAQ:SDGR) were down 4.5% on Tuesday . The stock traded as low as $21.82 and last traded at $21.72. Approximately 87,582 shares traded hands during trading, a decline of 88% from the average daily volume of 745,702 shares. The stock had previously closed at $22.75.

Wall Street Analysts Forecast Growth

SDGR has been the topic of several research analyst reports. Piper Sandler decreased their target price on shares of Schrödinger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. KeyCorp boosted their price objective on shares of Schrödinger from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. One equities research 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $32.29.

Schrödinger Stock Down 5.9 %

The firm’s 50 day simple moving average is $22.98 and its 200-day simple moving average is $20.78. The company has a market capitalization of $1.56 billion, a PE ratio of -9.17 and a beta of 1.62.

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

Insider Transactions at Schrödinger

In other news, CFO Geoffrey Craig Porges sold 5,491 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $21.76, for a total transaction of $119,484.16. Following the transaction, the chief financial officer now directly owns 27,544 shares of the company’s stock, valued at approximately $599,357.44. The trade was a 16.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Schrödinger

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Intech Investment Management LLC acquired a new stake in Schrödinger in the third quarter valued at $319,000. Massachusetts Financial Services Co. MA grew its stake in 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 in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Schrödinger by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 498,513 shares of the company’s stock valued at $9,247,000 after buying an additional 19,436 shares during the last quarter. Algert Global LLC raised its stake in Schrödinger by 45.3% during the third quarter. Algert Global LLC now owns 126,760 shares of the company’s stock valued at $2,351,000 after buying an additional 39,540 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Schrödinger during the 3rd quarter worth approximately $298,000. 79.05% of the stock is currently owned by hedge funds and other 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.