Schrödinger (NASDAQ:SDGR) Stock Price Down 5.4% – Time to Sell?

Schrödinger, Inc. (NASDAQ:SDGR) fell 5.4% on Tuesday . The company traded as low as $22.14 and last traded at $22.44. 224,873 shares traded hands during trading, a decline of 70% from the average session volume of 744,017 shares. The stock had previously closed at $23.73.

Analyst Ratings Changes

SDGR has been the topic of a number of research reports. Piper Sandler dropped their target price on shares of Schrödinger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. KeyCorp increased their target price on Schrödinger from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $32.29.

Schrödinger Trading Down 1.0 %

The firm has a market cap of $1.66 billion, a PE ratio of -9.69 and a beta of 1.62. The stock has a fifty day simple moving average of $22.83 and a two-hundred day simple moving average of $20.75.

Schrödinger (NASDAQ:SDGR) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.20). The business had revenue of $88.32 million for the quarter, compared to the consensus estimate of $83.20 million. Schrödinger had a negative net margin of 91.84% and a negative return on equity of 35.77%. As a group, sell-side analysts predict that Schrödinger, Inc. will post -2.37 earnings per share for the current fiscal year.

Insider Transactions at Schrödinger

In related news, CFO Geoffrey Craig Porges sold 5,491 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $21.76, for a total value of $119,484.16. Following the completion of the sale, the chief financial officer now owns 27,544 shares in the company, valued at $599,357.44. The trade was a 16.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 8.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Schrödinger

A number of large investors have recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Group Inc. boosted its position in Schrödinger by 60.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,510,518 shares of the company’s stock valued at $67,718,000 after buying an additional 1,319,464 shares during the period. Nikko Asset Management Americas Inc. lifted its stake in shares of Schrödinger by 108.7% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 2,464,911 shares of the company’s stock valued at $47,499,000 after acquiring an additional 1,283,949 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Schrödinger by 58.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,945,182 shares of the company’s stock valued at $36,083,000 after acquiring an additional 717,059 shares during the period. Rubric Capital Management LP grew its position in Schrödinger by 17.7% during the 3rd quarter. Rubric Capital Management LP now owns 3,685,503 shares of the company’s stock worth $68,366,000 after acquiring an additional 555,503 shares during the last quarter. Finally, Millennium Management LLC increased its stake in Schrödinger by 42.3% in the 4th quarter. Millennium Management LLC now owns 761,653 shares of the company’s stock worth $14,692,000 after purchasing an additional 226,536 shares during the period. Hedge funds and other institutional investors own 79.05% of the company’s stock.

About Schrödinger

Schrödinger, Inc, together with its subsidiaries, develops physics-based computational platform that enables discovery of novel molecules for drug development and materials applications. The company operates in two segments, Software and Drug Discovery. The Software segment is focused on licensing its software to transform molecular discovery for life sciences and materials science industries.