Schrödinger (NASDAQ:SDGR) Trading Down 10.6% – Time to Sell?

Schrödinger, Inc. (NASDAQ:SDGR)’s share price fell 10.6% during trading on Thursday . The stock traded as low as $23.01 and last traded at $23.87. 507,814 shares were traded during trading, a decline of 55% from the average session volume of 1,128,685 shares. The stock had previously closed at $26.69.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SDGR shares. Piper Sandler reduced their price objective on shares of Schrödinger from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. KeyCorp lifted their price objective on shares of Schrödinger from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, April 16th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Schrödinger has an average rating of “Buy” and a consensus target price of $32.80.

Schrödinger Stock Performance

The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -9.16 and a beta of 1.63. The stock’s 50-day simple moving average is $23.64 and its two-hundred day simple moving average is $22.41.

Schrödinger (NASDAQ:SDGR) last released its earnings results on Wednesday, May 7th. The company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.01). The firm had revenue of $59.55 million for the quarter, compared to analyst estimates of $54.60 million. Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. The firm’s revenue was up 62.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.86) EPS. As a group, research analysts predict that Schrödinger, Inc. will post -2.37 earnings per share for the current year.

Insider Activity at Schrödinger

In related news, insider Karen Akinsanya sold 16,723 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $25.09, for a total transaction of $419,580.07. Following the completion of the transaction, the insider now owns 15,625 shares in the company, valued at $392,031.25. This trade represents a 51.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Schrödinger

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Hong Kong Ltd acquired a new stake in shares of Schrödinger during the fourth quarter worth $27,000. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Schrödinger during the first quarter worth $37,000. Paradigm Asset Management Co. LLC acquired a new stake in shares of Schrödinger during the fourth quarter worth $50,000. PNC Financial Services Group Inc. grew its stake in shares of Schrödinger by 29.9% during the first quarter. PNC Financial Services Group Inc. now owns 2,956 shares of the company’s stock worth $58,000 after purchasing an additional 680 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Schrödinger by 118.5% during the first quarter. GAMMA Investing LLC now owns 6,109 shares of the company’s stock worth $121,000 after purchasing an additional 3,313 shares during the period. 79.05% of the stock is owned by institutional investors and hedge funds.

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.