Schrodinger (NASDAQ:SDGR) Stock Price Down 5.9% – Here’s What Happened

Schrodinger, Inc. (NASDAQ:SDGR) shares traded down 5.9% during trading on Tuesday . The company traded as low as $16.11 and last traded at $16.3590. 1,585,185 shares traded hands during trading, an increase of 13% from the average daily volume of 1,402,158 shares. The stock had previously closed at $17.39.

Wall Street Analyst Weigh In

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

Schrodinger Trading Down 5.5%

The stock has a 50 day moving average price of $13.78 and a 200-day moving average price of $14.13. The stock has a market capitalization of $1.21 billion, a PE ratio of -11.68 and a beta of 1.64.

Schrodinger (NASDAQ:SDGR) last announced 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 net margin of 40.61% and a negative return on equity of 30.85%. The company had revenue of $58.59 million during the quarter, compared to analysts’ expectations of $47.57 million. During the same period in the previous year, the business earned ($0.82) earnings per share. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. Research analysts forecast that Schrodinger, Inc. will post -1.89 earnings per share for the current year.

Insider Buying and Selling at Schrodinger

In other Schrodinger news, CEO Ramy Farid sold 43,000 shares of the business’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 transaction, the chief executive officer directly owned 330,824 shares in the company, valued at $4,079,059.92. The trade was a 11.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tudor Investment Corp ET AL lifted its holdings in shares of Schrodinger by 2,530.6% in the third quarter. Tudor Investment Corp ET AL now owns 336,379 shares of the company’s stock valued at $6,748,000 after purchasing an additional 323,592 shares in the last quarter. Citigroup Inc. raised its position in shares of Schrodinger by 122.5% during the 3rd quarter. Citigroup Inc. now owns 155,209 shares of the company’s stock worth $3,113,000 after purchasing an additional 85,448 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Schrodinger by 3.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,714,767 shares of the company’s stock valued at $84,300,000 after buying an additional 160,198 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Schrodinger by 10.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,291,349 shares of the company’s stock worth $40,969,000 after buying an additional 218,916 shares in the last quarter. Finally, UBS Group AG boosted its stake in shares of Schrodinger by 51.3% during the fourth quarter. UBS Group AG now owns 1,442,799 shares of the company’s stock valued at $25,797,000 after acquiring an additional 489,059 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

About Schrodinger

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.