Schrödinger (NASDAQ:SDGR) Shares Up 11.3% – What’s Next?

Schrödinger, Inc. (NASDAQ:SDGR)’s stock price rose 11.3% during trading on Tuesday . The stock traded as high as $21.49 and last traded at $22.21. Approximately 537,589 shares changed hands during mid-day trading, a decline of 28% from the average daily volume of 746,474 shares. The stock had previously closed at $19.96.

Analysts Set New Price Targets

Several research firms have issued reports on SDGR. BMO Capital Markets boosted their price target on Schrödinger from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Piper Sandler reduced their price objective 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. Finally, KeyCorp boosted their price objective on Schrödinger from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Schrödinger currently has a consensus rating of “Buy” and a consensus price target of $32.29.

Schrödinger Price Performance

The stock has a market cap of $1.60 billion, a PE ratio of -9.37 and a beta of 1.62. The stock has a 50-day moving average price of $22.62 and a two-hundred day moving average price of $20.68.

Schrödinger (NASDAQ:SDGR) last posted its 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 during the quarter, compared to the consensus estimate of $83.20 million. Equities research analysts expect that Schrödinger, Inc. will post -2.37 earnings per share for the current year.

Insider Activity

In other news, CFO Geoffrey Craig Porges sold 5,491 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $21.76, for a total value of $119,484.16. Following the sale, the chief financial officer now owns 27,544 shares of the company’s stock, valued at approximately $599,357.44. This represents a 16.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 8.60% of the company’s stock.

Institutional Trading of Schrödinger

Several institutional investors and hedge funds have recently made changes to their positions in SDGR. Avanza Fonder AB purchased a new stake in shares of Schrödinger in the 4th quarter worth $577,000. Barclays PLC boosted its position in Schrödinger by 421.6% during the 3rd quarter. Barclays PLC now owns 107,554 shares of the company’s stock valued at $1,995,000 after acquiring an additional 86,933 shares in the last quarter. State Street Corp boosted its position in Schrödinger by 1.8% during the 3rd quarter. State Street Corp now owns 2,155,620 shares of the company’s stock valued at $39,987,000 after acquiring an additional 38,972 shares in the last quarter. Quest Partners LLC boosted its position in Schrödinger by 861.0% during the 3rd quarter. Quest Partners LLC now owns 43,773 shares of the company’s stock valued at $812,000 after acquiring an additional 39,218 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in Schrödinger by 1.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,191,054 shares of the company’s stock worth $40,644,000 after purchasing an additional 29,920 shares during the last quarter. 79.05% of the stock is currently owned by 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.