Schrödinger (NASDAQ:SDGR) Shares Gap Down on Analyst Downgrade

Schrödinger, Inc. (NASDAQ:SDGR) gapped down before the market opened on Thursday after Citigroup lowered their price target on the stock from $39.00 to $37.00. The stock had previously closed at $25.26, but opened at $22.90. Citigroup currently has a buy rating on the stock. Schrödinger shares last traded at $23.71, with a volume of 391,654 shares traded.

Several other equities research analysts also recently weighed in on SDGR. TD Cowen started coverage on shares of Schrödinger in a research report on Friday, January 26th. They issued an “outperform” rating and a $42.00 target price for the company. The Goldman Sachs Group lowered their price target on Schrödinger from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, March 1st. Bank of America dropped their price target on Schrödinger from $38.00 to $32.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. Piper Sandler decreased their price objective on shares of Schrödinger from $60.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, February 29th. Finally, KeyCorp dropped their target price on shares of Schrödinger from $38.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.80.

Insider Buying and Selling

In other Schrödinger news, insider Robert Lorne Abel sold 1,205 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $27.55, for a total transaction of $33,197.75. Following the completion of the transaction, the insider now directly owns 9,340 shares of the company’s stock, valued at approximately $257,317. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Kenneth Patrick Lorton sold 901 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $28.29, for a total value of $25,489.29. Following the completion of the sale, the chief operating officer now owns 36,487 shares of the company’s stock, valued at $1,032,217.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Lorne Abel sold 1,205 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $27.55, for a total transaction of $33,197.75. Following the transaction, the insider now directly owns 9,340 shares in the company, valued at approximately $257,317. The disclosure for this sale can be found here. Insiders have sold a total of 3,651 shares of company stock valued at $102,395 in the last quarter. Company insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Schrödinger

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its holdings in Schrödinger by 8.4% in the 4th quarter. SG Americas Securities LLC now owns 5,125 shares of the company’s stock valued at $183,000 after acquiring an additional 397 shares during the last quarter. Spire Wealth Management lifted its stake in Schrödinger by 66.7% during the third quarter. Spire Wealth Management now owns 1,000 shares of the company’s stock valued at $28,000 after purchasing an additional 400 shares during the last quarter. Motley Fool Asset Management LLC boosted its holdings in Schrödinger by 2.0% during the third quarter. Motley Fool Asset Management LLC now owns 29,402 shares of the company’s stock worth $831,000 after buying an additional 570 shares in the last quarter. Tudor Investment Corp Et Al grew its position in Schrödinger by 1.0% in the third quarter. Tudor Investment Corp Et Al now owns 91,725 shares of the company’s stock worth $2,593,000 after buying an additional 908 shares during the last quarter. Finally, Perigon Wealth Management LLC increased its holdings in shares of Schrödinger by 14.1% in the third quarter. Perigon Wealth Management LLC now owns 7,811 shares of the company’s stock valued at $221,000 after buying an additional 964 shares in the last quarter. 79.05% of the stock is owned by institutional investors.

Schrödinger Stock Performance

The business has a 50-day moving average price of $26.23 and a 200 day moving average price of $28.23.

Schrödinger (NASDAQ:SDGR) last announced its earnings results on Wednesday, February 28th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.12. The company had revenue of $74.10 million during the quarter, compared to analysts’ expectations of $79.12 million. Schrödinger had a negative net margin of 75.94% and a negative return on equity of 29.25%. The business’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same period last year, the company posted ($0.39) earnings per share. Sell-side analysts forecast that Schrödinger, Inc. will post -2.73 earnings per share for the current fiscal year.

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.