Schrödinger (NASDAQ:SDGR) Shares Gap Down After Analyst Downgrade

Shares of Schrödinger, Inc. (NASDAQ:SDGR) gapped down before the market opened on Thursday after Citigroup lowered their price target on the stock from $39.00 to $37.00. The stock had previously closed at $25.26, but opened at $22.90. Citigroup currently has a buy rating on the stock. Schrödinger shares last traded at $23.71, with a volume of 391,654 shares traded.

Several other research analysts have also recently weighed in on SDGR. Piper Sandler lowered their price objective on Schrödinger from $60.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, February 29th. KeyCorp lowered their price target on shares of Schrödinger from $38.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, February 29th. Bank of America cut their price objective on shares of Schrödinger from $38.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, February 29th. The Goldman Sachs Group decreased their target price on shares of Schrödinger from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, March 1st. Finally, Craig Hallum dropped their price target on shares of Schrödinger from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Schrödinger presently has a consensus rating of “Moderate Buy” and an average target price of $42.80.

Insider Transactions at Schrödinger

In related news, COO Kenneth Patrick Lorton sold 901 shares of Schrödinger stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $28.29, for a total value of $25,489.29. Following the transaction, the chief operating officer now directly owns 36,487 shares of the company’s stock, valued at $1,032,217.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Schrödinger news, COO Kenneth Patrick Lorton sold 901 shares of Schrödinger stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $28.29, for a total value of $25,489.29. Following the transaction, the chief operating officer now owns 36,487 shares in the company, valued at $1,032,217.23. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert Lorne Abel sold 1,205 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $27.55, for a total transaction of $33,197.75. Following the completion of the transaction, the insider now directly owns 9,340 shares of the company’s stock, valued at approximately $257,317. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,651 shares of company stock valued at $102,395. Company insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Spire Wealth Management boosted its holdings in shares of Schrödinger by 66.7% during the 3rd quarter. Spire Wealth Management now owns 1,000 shares of the company’s stock valued at $28,000 after acquiring an additional 400 shares in the last quarter. International Assets Investment Management LLC boosted its position in Schrödinger by 3,480.0% during the 4th quarter. International Assets Investment Management LLC now owns 1,790 shares of the company’s stock worth $64,000 after buying an additional 1,740 shares during the period. GAMMA Investing LLC bought a new stake in Schrödinger during the 4th quarter worth approximately $67,000. PNC Financial Services Group Inc. increased its position in Schrödinger by 186.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,127 shares of the company’s stock valued at $76,000 after acquiring an additional 1,385 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Schrödinger by 23.4% during the third quarter. SG Americas Securities LLC now owns 4,728 shares of the company’s stock worth $134,000 after purchasing an additional 896 shares during the period. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Schrödinger Stock Performance

The business’s fifty day moving average price is $26.23 and its 200 day moving average price is $28.23.

Schrödinger (NASDAQ:SDGR) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.12. Schrödinger had a negative return on equity of 29.25% and a negative net margin of 75.94%. The firm had revenue of $74.10 million for the quarter, compared to analyst estimates of $79.12 million. During the same quarter in the previous year, the company posted ($0.39) EPS. The business’s revenue was up 30.5% on a year-over-year basis. Research analysts forecast that Schrödinger, Inc. will post -2.73 EPS for the current year.

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.