Schrodinger (NASDAQ:SDGR) Sets New 12-Month High – Here’s What Happened

Schrodinger, Inc. (NASDAQ:SDGR) shares hit a new 52-week high during mid-day trading on Tuesday. The company traded as high as $33.78 and last traded at $32.9420, with a volume of 309,283 shares. The stock had previously closed at $33.39.

Analyst Ratings Changes

Several research firms have recently commented on SDGR. Zacks Research lowered Schrodinger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 3rd. KeyCorp lifted their target price on shares of Schrodinger from $20.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, October 16th. UBS Group boosted their target price on shares of Schrodinger from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Tuesday, October 20th. Weiss Ratings raised shares of Schrodinger from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 27th. Finally, Wall Street Zen raised shares of Schrodinger from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Schrodinger has an average rating of “Hold” and an average price target of $26.67.

Schrodinger Stock Performance

The company has a 50 day moving average price of $26.07 and a 200 day moving average price of $17.16. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of -40.59 and a beta of 1.69.

Schrodinger (NASDAQ:SDGR) last released its quarterly earnings results on Wednesday, November 4th. The company reported ($0.50) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.17. The business had revenue of $64.49 million during the quarter, compared to analysts’ expectations of $47.73 million. Schrodinger had a negative return on equity of 17.66% and a negative net margin of 22.02%. The company’s revenue was up 18.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.45) EPS. On average, research analysts forecast that Schrodinger, Inc. will post -1.39 earnings per share for the current year.

Insider Buying and Selling

In other Schrodinger news, insider Karen Akinsanya sold 31,599 shares of the company’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $29.37, for a total value of $928,062.63. Following the transaction, the insider owned 69,956 shares of the company’s stock, valued at $2,054,607.72. This represents a 31.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Schrodinger

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Hantz Financial Services Inc. boosted its holdings in Schrodinger by 13.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,366 shares of the company’s stock valued at $105,000 after purchasing an additional 390 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Schrodinger by 5.7% in the third quarter. GAMMA Investing LLC now owns 14,353 shares of the company’s stock valued at $446,000 after purchasing an additional 772 shares during the period. Kestra Advisory Services LLC boosted its holdings in Schrodinger by 2.0% during the first quarter. Kestra Advisory Services LLC now owns 51,429 shares of the company’s stock worth $584,000 after buying an additional 1,002 shares in the last quarter. Root Financial Partners LLC purchased a new stake in Schrodinger during the third quarter worth about $50,000. Finally, Sterling Capital Management LLC grew its position in Schrodinger by 843.8% during the third quarter. Sterling Capital Management LLC now owns 1,916 shares of the company’s stock worth $59,000 after buying an additional 1,713 shares during the period. 79.05% of the stock is owned by hedge funds and other institutional investors.

Schrodinger Company Profile

Schrödinger, Inc. develops computational software used to support drug discovery and materials research. Its platform applies physics-based modeling, computational chemistry and machine learning to help researchers analyze molecular properties and identify promising candidates. The company’s tools are used by pharmaceutical and biotechnology companies, academic institutions and other research organizations. Alongside software sales and subscriptions, Schrödinger works with partners on drug discovery programs and advances a portfolio of its own therapeutic candidates.