Schrodinger (NASDAQ:SDGR) Announces Quarterly Earnings Results, Misses Estimates By $0.25 EPS

Schrodinger (NASDAQ:SDGR) issued its quarterly earnings data on Tuesday. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.25), FiscalAI reports. The business had revenue of $58.59 million for the quarter, compared to analysts’ expectations of $47.57 million. Schrodinger had a negative net margin of 40.37% and a negative return on equity of 29.47%.

Schrodinger Trading Down 0.2%

SDGR traded down $0.03 on Tuesday, reaching $12.87. The stock had a trading volume of 1,508,366 shares, compared to its average volume of 1,380,897. Schrodinger has a 12-month low of $10.94 and a 12-month high of $27.63. The business’s 50-day moving average price is $11.99 and its two-hundred day moving average price is $15.46. The company has a market cap of $950.13 million, a P/E ratio of -9.06 and a beta of 1.57.

Insiders Place Their Bets

In other Schrodinger news, CEO Ramy Farid sold 43,000 shares of Schrodinger stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $12.33, for a total value of $530,190.00. Following the completion of the transaction, the chief executive officer owned 330,824 shares of the company’s stock, valued at approximately $4,079,059.92. The trade was a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 59,184 shares of company stock valued at $741,556 over the last three months. 21.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SDGR. Millennium Management LLC increased its holdings in Schrodinger by 1,075.8% in the third quarter. Millennium Management LLC now owns 1,551,721 shares of the company’s stock valued at $31,128,000 after buying an additional 1,419,750 shares in the last quarter. Lazard Asset Management LLC increased its holdings in Schrodinger by 65.3% in the third quarter. Lazard Asset Management LLC now owns 2,346,441 shares of the company’s stock valued at $47,070,000 after buying an additional 927,234 shares in the last quarter. Bank of America Corp DE increased its holdings in Schrodinger by 428.3% in the second quarter. Bank of America Corp DE now owns 606,916 shares of the company’s stock valued at $12,211,000 after buying an additional 492,032 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Schrodinger by 12.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,717,890 shares of the company’s stock valued at $66,476,000 after buying an additional 414,231 shares in the last quarter. Finally, Man Group plc increased its holdings in Schrodinger by 170.5% in the fourth quarter. Man Group plc now owns 441,363 shares of the company’s stock valued at $7,892,000 after buying an additional 278,189 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SDGR shares. Weiss Ratings restated a “sell (e+)” rating on shares of Schrodinger in a research note on Friday, January 9th. Wall Street Zen upgraded shares of Schrodinger from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. UBS Group decreased their target price on shares of Schrodinger from $18.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, March 17th. TD Cowen restated a “buy” rating on shares of Schrodinger in a research report on Thursday, January 8th. Finally, KeyCorp decreased their target price on shares of Schrodinger from $25.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $20.50.

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.