Schrodinger, Inc. (NASDAQ:SDGR – Get Free Report) shares traded up 8.9% during mid-day trading on Tuesday. The stock traded as high as $26.72 and last traded at $26.6750. 503,271 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 1,531,311 shares. The stock had previously closed at $24.50.
Analysts Set New Price Targets
Several analysts have issued reports on the company. Wall Street Zen raised Schrodinger from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. TD Cowen upped their price target on Schrodinger from $20.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, October 13th. BMO Capital Markets increased their price target on shares of Schrodinger from $24.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, October 12th. UBS Group upped their price objective on Schrodinger from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, October 20th. Finally, KeyCorp lifted their price target on shares of Schrodinger from $20.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.
Read Our Latest Stock Report on Schrodinger
Schrodinger Stock Performance
The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of -36.34 and a beta of 1.62. The business’s 50 day moving average is $24.15 and its 200 day moving average is $16.61.
Schrodinger (NASDAQ:SDGR – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.49. The company had revenue of $58.89 million for the quarter, compared to the consensus estimate of $47.19 million. Schrodinger had a negative return on equity of 16.37% and a negative net margin of 20.98%. Schrodinger’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.65) earnings per share. Sell-side analysts predict that Schrodinger, Inc. will post -1.50 EPS for the current year.
Insider Activity
In related news, insider Karen Akinsanya sold 31,599 shares of the business’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $29.37, for a total value of $928,062.63. Following the completion of the sale, the insider directly owned 69,956 shares of the company’s stock, valued at $2,054,607.72. The trade was a 31.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.10% of the company’s stock.
Institutional Investors Weigh In On Schrodinger
Several hedge funds have recently modified their holdings of the stock. Oppenheimer & Co. Inc. acquired a new stake in shares of Schrodinger during the third quarter valued at about $218,000. Lighthouse Financial LLC bought a new position in shares of Schrodinger in the third quarter valued at approximately $480,000. Sterling Capital Management LLC boosted its holdings in Schrodinger by 843.8% in the 3rd quarter. Sterling Capital Management LLC now owns 1,916 shares of the company’s stock valued at $59,000 after purchasing an additional 1,713 shares during the period. Root Financial Partners LLC bought a new stake in shares of Schrodinger in the 3rd quarter worth approximately $50,000. Finally, SBI Securities Co. Ltd. increased its stake in Schrodinger by 57.1% in the third quarter. SBI Securities Co. Ltd. now owns 14,522 shares of the company’s stock valued at $451,000 after acquiring an additional 5,276 shares during the period. 79.05% of the stock is owned by institutional investors and hedge funds.
Schrodinger Company Profile
Schrödinger, Inc develops computational software and services designed to support pharmaceutical, biotechnology and materials research. Its platform uses physics-based modeling, machine learning and other computational methods to help scientists analyze molecular interactions, design compounds and prioritize candidates for experimental testing.
The company’s software offerings include tools for molecular modeling, quantum chemistry, molecular dynamics, virtual screening, property prediction and free-energy calculations.
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