Schrodinger (NASDAQ:SDGR) Shares Down 5.9% – Here’s Why

Schrodinger, Inc. (NASDAQ:SDGR) shares dropped 5.9% during mid-day trading on Tuesday . The stock traded as low as $16.11 and last traded at $16.3590. 1,585,185 shares were traded 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 Analysts Forecast Growth

SDGR has been the subject of a number of recent analyst reports. UBS Group lowered their price objective on Schrodinger from $18.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, March 17th. Morgan Stanley decreased their price target on Schrodinger from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 14th. Wall Street Zen cut Schrodinger from a “hold” rating to a “strong sell” rating in a report on Saturday, May 9th. Finally, KeyCorp lowered their price target on Schrodinger from $25.00 to $20.00 and set an “overweight” rating for the company in a 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $20.25.

Schrodinger Price Performance

The company has a fifty day moving average price of $13.78 and a two-hundred day moving average price of $14.13. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -11.68 and a beta of 1.64.

Schrodinger (NASDAQ:SDGR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $58.59 million during the quarter, compared to analyst estimates of $47.57 million. During the same period in the previous year, the company posted ($0.82) earnings per share. Schrodinger’s revenue was down 1.6% compared to the same quarter last year. On average, research analysts expect that Schrodinger, Inc. will post -1.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Schrodinger

In related news, CEO Ramy Farid sold 43,000 shares of Schrodinger stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $12.33, for a total value of $530,190.00. Following the transaction, the chief executive officer owned 330,824 shares of the company’s stock, valued at approximately $4,079,059.92. This trade represents a 11.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SDGR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Schrodinger by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,055 shares of the company’s stock valued at $653,000 after acquiring an additional 1,412 shares during the period. Cetera Investment Advisers lifted its position in Schrodinger by 75.2% during the 2nd quarter. Cetera Investment Advisers now owns 29,973 shares of the company’s stock worth $603,000 after acquiring an additional 12,868 shares during the last quarter. Norges Bank bought a new stake in Schrodinger during the second quarter valued at about $311,000. Invesco Ltd. grew its position in shares of Schrodinger by 15.6% in the second quarter. Invesco Ltd. now owns 155,895 shares of the company’s stock valued at $3,137,000 after purchasing an additional 21,039 shares during the last quarter. Finally, First Trust Advisors LP bought a new position in shares of Schrodinger in the second quarter worth about $1,227,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

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.