Schrodinger (NASDAQ:SDGR) Trading Up 9.6% – Here’s What Happened

Schrodinger, Inc. (NASDAQ:SDGR) was up 9.6% on Thursday . The company traded as high as $15.94 and last traded at $16.3680. Approximately 417,242 shares traded hands during trading, a decline of 70% from the average daily volume of 1,387,432 shares. The stock had previously closed at $14.93.

Wall Street Analysts Forecast Growth

SDGR has been the subject of a number of research reports. UBS Group reduced their price target on shares of Schrodinger from $18.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, March 17th. KeyCorp lowered their price target on shares of Schrodinger from $25.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. Morgan Stanley cut their price target on shares of Schrodinger from $19.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, May 14th. Finally, Wall Street Zen cut shares of Schrodinger from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 9th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Schrodinger has a consensus rating of “Hold” and a consensus target price of $20.25.

Schrodinger Trading Up 5.7%

The firm has a market capitalization of $1.16 billion, a P/E ratio of -11.18 and a beta of 1.64. The company’s fifty day simple moving average is $12.43 and its 200 day simple moving average is $14.40.

Schrodinger (NASDAQ:SDGR) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.25). Schrodinger had a negative return on equity of 30.85% and a negative net margin of 40.61%.The company had revenue of $58.59 million during the quarter, compared to the consensus estimate of $47.57 million. During the same quarter last year, the company posted ($0.82) earnings per share. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, analysts predict that Schrodinger, Inc. will post -1.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Schrodinger

In other news, CEO Ramy Farid sold 43,000 shares of the company’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $12.33, for a total value of $530,190.00. Following the sale, the chief executive officer directly owned 330,824 shares of the company’s stock, valued at $4,079,059.92. This represents a 11.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 44,452 shares of company stock valued at $548,758. 10.10% of the stock is owned by corporate insiders.

Institutional Trading of Schrodinger

A number of hedge funds and other institutional investors have recently modified their holdings of SDGR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Schrodinger by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,055 shares of the company’s stock worth $653,000 after buying an additional 1,412 shares during the period. Cetera Investment Advisers grew its position in shares of Schrodinger by 75.2% in the 2nd quarter. Cetera Investment Advisers now owns 29,973 shares of the company’s stock worth $603,000 after buying an additional 12,868 shares during the period. Norges Bank purchased a new stake in shares of Schrodinger in the 2nd quarter worth about $311,000. Invesco Ltd. grew its position in shares of Schrodinger by 15.6% in the 2nd quarter. Invesco Ltd. now owns 155,895 shares of the company’s stock worth $3,137,000 after buying an additional 21,039 shares during the period. Finally, First Trust Advisors LP purchased a new stake in shares of Schrodinger in the 2nd quarter worth about $1,227,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Schrodinger Company Profile

Schrödinger, Inc is a life sciences and materials discovery company that specializes in the application of physics-based computational platforms to accelerate drug discovery and advanced materials design. Founded in 1990 by Professor Richard A. Friesner, Schrödinger has developed a suite of proprietary software tools—such as Maestro for molecular modeling, Glide for molecular docking and Jaguar for quantum chemistry calculations—that enable scientists to predict molecular behavior with high accuracy.