Schrodinger (NASDAQ:SDGR) Insider Robert Lorne Abel Sells 23,605 Shares of Company Stock

Schrodinger, Inc. (NASDAQ:SDGR) insider Robert Abel sold 23,605 shares of Schrodinger stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $34.00, for a total transaction of $802,570.00. Following the completion of the transaction, the insider directly owned 54,219 shares of the company’s stock, valued at $1,843,446. The trade was a 30.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Schrodinger Stock Performance

Shares of Schrodinger stock opened at $30.85 on Friday. The firm has a 50-day simple moving average of $26.74 and a two-hundred day simple moving average of $17.39. Schrodinger, Inc. has a fifty-two week low of $10.94 and a fifty-two week high of $34.00. The company has a market cap of $2.28 billion, a P/E ratio of -39.05 and a beta of 1.69.

Schrodinger (NASDAQ:SDGR) last posted its earnings results on Wednesday, November 4th. The company reported ($0.50) EPS for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.17. Schrodinger had a negative return on equity of 18.12% and a negative net margin of 22.02%. The firm had revenue of $64.49 million for the quarter, compared to analysts’ expectations of $47.73 million. During the same period last year, the firm earned ($0.45) EPS. The company’s quarterly revenue was up 18.7% on a year-over-year basis. Equities research analysts forecast that Schrodinger, Inc. will post -1.39 EPS for the current year.

Institutional Trading of Schrodinger

Institutional investors have recently modified their holdings of the stock. Ieq Capital LLC increased its stake in shares of Schrodinger by 29.6% during the third quarter. Ieq Capital LLC now owns 92,553 shares of the company’s stock worth $2,874,000 after purchasing an additional 21,156 shares in the last quarter. Focus Advisor Solutions LLC acquired a new position in shares of Schrodinger during the 3rd quarter worth about $347,000. Stelac Advisory Services LLC acquired a new position in shares of Schrodinger during the 3rd quarter worth about $102,000. Public Sector Pension Investment Board raised its position in shares of Schrodinger by 79.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 350,738 shares of the company’s stock worth $10,890,000 after purchasing an additional 154,824 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new position in Schrodinger in the 3rd quarter valued at about $5,271,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

Analyst Upgrades and Downgrades

SDGR has been the topic of a number of recent analyst reports. TD Cowen increased their price target on Schrodinger from $31.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, November 5th. Wall Street Zen upgraded Schrodinger from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. UBS Group upped their target price on Schrodinger from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 20th. BMO Capital Markets upped their target price on Schrodinger from $24.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, October 12th. Finally, Zacks Research lowered Schrodinger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 3rd. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Schrodinger currently has an average rating of “Hold” and an average price target of $26.67.

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.