Schrödinger (NASDAQ:SDGR) Trading Down 10.7% After Earnings Miss

Schrödinger, Inc. (NASDAQ:SDGRGet Rating) shares were down 10.7% during mid-day trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $29.90 and last traded at $31.00. Approximately 16,838 shares were traded during trading, a decline of 97% from the average daily volume of 503,570 shares. The stock had previously closed at $34.71.

The company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.06). Schrödinger had a negative return on equity of 23.72% and a negative net margin of 87.27%. The company had revenue of $38.50 million for the quarter, compared to analyst estimates of $35.48 million. During the same quarter last year, the company earned ($0.49) EPS. The firm’s quarterly revenue was up 29.2% on a year-over-year basis.

Wall Street Analyst Weigh In

Separately, Piper Sandler upped their target price on shares of Schrödinger from $84.00 to $86.00 and gave the company an “overweight” rating in a research report on Tuesday, July 26th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Schrödinger presently has an average rating of “Moderate Buy” and an average price target of $68.83.

Institutional Trading of Schrödinger

A number of hedge funds have recently modified their holdings of SDGR. Commonwealth Equity Services LLC raised its position in shares of Schrödinger by 82.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 84,498 shares of the company’s stock valued at $2,943,000 after acquiring an additional 38,125 shares during the period. State of New Jersey Common Pension Fund D increased its stake in Schrödinger by 40.5% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 68,839 shares of the company’s stock worth $2,398,000 after purchasing an additional 19,856 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in Schrödinger by 148.2% during the 4th quarter. Qube Research & Technologies Ltd now owns 9,740 shares of the company’s stock worth $339,000 after purchasing an additional 5,815 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Schrödinger by 33.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,755 shares of the company’s stock worth $340,000 after purchasing an additional 2,454 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Schrödinger by 25.1% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 207,300 shares of the company’s stock worth $7,220,000 after purchasing an additional 41,619 shares in the last quarter. 62.31% of the stock is currently owned by institutional investors and hedge funds.

Schrödinger Trading Down 3.3 %

The business has a 50 day moving average of $28.99 and a 200-day moving average of $28.89. The firm has a market capitalization of $2.39 billion, a P/E ratio of -17.77 and a beta of 1.14.

Schrödinger Company Profile

(Get Rating)

Schrödinger, Inc, together with its subsidiaries, provides physics-based software 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 selling its software for drug discovery in the life sciences industry, as well as to customers in materials science industries.

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