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

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SDGR. UBS Group cut their price objective on shares of Schrodinger from $18.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 17th. KeyCorp cut their price objective 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. Wall Street Zen downgraded shares of Schrodinger from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 9th. Finally, Morgan Stanley cut their price objective on shares of 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 issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Schrodinger presently has an average rating of “Hold” and an average price target of $20.25.

Schrodinger Stock Performance

The business’s fifty day moving average price is $12.43 and its 200-day moving average price is $14.40. The stock has a market cap of $1.16 billion, a PE ratio of -11.18 and a beta of 1.64.

Schrodinger (NASDAQ:SDGR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.25). The company had revenue of $58.59 million for the quarter, compared to analysts’ expectations of $47.57 million. Schrodinger had a negative net margin of 40.61% and a negative return on equity of 30.85%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.82) EPS. Analysts forecast that Schrodinger, Inc. will post -1.89 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Ramy Farid sold 43,000 shares of the firm’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $12.33, for a total transaction of $530,190.00. Following the sale, the chief executive officer owned 330,824 shares of the company’s stock, valued at $4,079,059.92. This trade represents a 11.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 worth $548,758. Company insiders own 10.10% of the company’s stock.

Hedge Funds Weigh In On Schrodinger

Several institutional investors have recently made changes to their positions in SDGR. EverSource Wealth Advisors LLC lifted its stake in shares of Schrodinger by 722.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,374 shares of the company’s stock worth $25,000 after purchasing an additional 1,207 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of Schrodinger in the 4th quarter worth approximately $26,000. Hantz Financial Services Inc. lifted its stake in shares of Schrodinger by 5,025.8% in the 4th quarter. Hantz Financial Services Inc. now owns 1,589 shares of the company’s stock worth $28,000 after purchasing an additional 1,558 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Schrodinger in the 4th quarter worth approximately $36,000. Finally, Aster Capital Management DIFC Ltd lifted its stake in shares of Schrodinger by 212.4% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 1,943 shares of the company’s stock worth $39,000 after purchasing an additional 1,321 shares during the period. Institutional investors own 79.05% of the company’s stock.

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.