Insider Selling: Schrödinger, Inc. (NASDAQ:SDGR) CFO Sells $119,484.16 in Stock

Schrödinger, Inc. (NASDAQ:SDGR) CFO Geoffrey Craig Porges sold 5,491 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $21.76, for a total value of $119,484.16. Following the transaction, the chief financial officer now directly owns 27,544 shares in the company, valued at $599,357.44. This trade represents a 16.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Schrödinger Stock Performance

SDGR opened at $21.05 on Friday. The stock has a market capitalization of $1.53 billion, a PE ratio of -9.00 and a beta of 1.62. The stock’s 50 day moving average price is $22.44 and its 200-day moving average price is $20.63. Schrödinger, Inc. has a 52-week low of $16.67 and a 52-week high of $29.15.

Schrödinger (NASDAQ:SDGR) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.20). Schrödinger had a negative net margin of 91.84% and a negative return on equity of 35.77%. The company had revenue of $88.32 million for the quarter, compared to analysts’ expectations of $83.20 million. Research analysts forecast that Schrödinger, Inc. will post -2.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SDGR has been the topic of several recent research reports. KeyCorp raised their price target on Schrödinger from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Piper Sandler cut their target price on shares of Schrödinger from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Finally, BMO Capital Markets lifted their target price on shares of Schrödinger from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $32.29.

Hedge Funds Weigh In On Schrödinger

A number of institutional investors have recently bought and sold shares of SDGR. Sumitomo Mitsui Trust Group Inc. boosted its position in Schrödinger by 60.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,510,518 shares of the company’s stock valued at $67,718,000 after acquiring an additional 1,319,464 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its stake in shares of Schrödinger by 108.7% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 2,464,911 shares of the company’s stock valued at $47,499,000 after purchasing an additional 1,283,949 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Schrödinger by 58.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,945,182 shares of the company’s stock valued at $36,083,000 after purchasing an additional 717,059 shares in the last quarter. Rubric Capital Management LP boosted its position in shares of Schrödinger by 17.7% during the third quarter. Rubric Capital Management LP now owns 3,685,503 shares of the company’s stock valued at $68,366,000 after purchasing an additional 555,503 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Schrödinger by 42.3% in the fourth quarter. Millennium Management LLC now owns 761,653 shares of the company’s stock worth $14,692,000 after purchasing an additional 226,536 shares during the period. 79.05% of the stock is owned by institutional investors.

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.