Schrödinger (NASDAQ:SDGR) Shares Gap Down to $33.03

Schrödinger, Inc. (NASDAQ:SDGR)’s share price gapped down before the market opened on Monday . The stock had previously closed at $33.03, but opened at $32.19. Schrödinger shares last traded at $31.85, with a volume of 50,122 shares traded.

Wall Street Analyst Weigh In

SDGR has been the subject of several recent analyst reports. Jefferies Financial Group raised their price objective on shares of Schrödinger from $40.00 to $60.00 in a research report on Thursday, June 15th. BMO Capital Markets cut their price objective on shares of Schrödinger from $78.00 to $67.00 and set an “outperform” rating for the company in a research report on Thursday, August 3rd. Finally, Morgan Stanley restated an “equal weight” rating and set a $52.00 price objective on shares of Schrödinger in a research report on Friday, August 4th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $52.00.

Schrödinger Price Performance

The company has a market cap of $2.29 billion, a PE ratio of 38.41 and a beta of 1.29. The company’s 50 day simple moving average is $41.81 and its two-hundred day simple moving average is $35.88.

Schrödinger (NASDAQ:SDGR) last announced its earnings results on Wednesday, August 2nd. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.22. Schrödinger had a net margin of 34.24% and a negative return on equity of 20.98%. The company had revenue of $35.19 million during the quarter, compared to analyst estimates of $35.28 million. Sell-side analysts expect that Schrödinger, Inc. will post 0.61 EPS for the current fiscal year.

Insider Activity

In other news, EVP Kenneth Patrick Lorton sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $40.06, for a total value of $400,600.00. Following the completion of the transaction, the executive vice president now owns 37,388 shares of the company’s stock, valued at $1,497,763.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Kenneth Patrick Lorton sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $40.06, for a total value of $400,600.00. Following the sale, the executive vice president now owns 37,388 shares of the company’s stock, valued at $1,497,763.28. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Yvonne Tran sold 12,040 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $50.00, for a total transaction of $602,000.00. Following the completion of the sale, the executive vice president now directly owns 12,721 shares in the company, valued at approximately $636,050. The disclosure for this sale can be found here. Insiders own 7.60% of the company’s stock.

Institutional Trading of Schrödinger

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SDGR. Belpointe Asset Management LLC acquired a new stake in Schrödinger during the fourth quarter worth approximately $25,000. Arete Wealth Advisors LLC acquired a new position in shares of Schrödinger in the 1st quarter valued at $25,000. Nisa Investment Advisors LLC increased its holdings in shares of Schrödinger by 5,900.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,200 shares of the company’s stock valued at $32,000 after acquiring an additional 1,180 shares during the period. Carmel Capital Partners LLC acquired a new position in shares of Schrödinger in the 1st quarter valued at $34,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Schrödinger by 1,676.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 888 shares of the company’s stock valued at $44,000 after acquiring an additional 838 shares during the period. Institutional investors and hedge funds own 81.14% of the company’s stock.

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.