Schrödinger (NASDAQ:SDGR) Trading Down 2.4% After Insider Selling

Schrödinger, Inc. (NASDAQ:SDGR)’s share price traded down 2.4% on Tuesday after an insider sold shares in the company. The company traded as low as $25.27 and last traded at $25.89. 220,644 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 804,539 shares. The stock had previously closed at $26.54.

Specifically, insider Karen Akinsanya sold 16,723 shares of the company’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $25.09, for a total transaction of $419,580.07. Following the completion of the sale, the insider now owns 15,625 shares in the company, valued at approximately $392,031.25. The trade was a 51.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Analyst Ratings Changes

A number of brokerages recently commented on SDGR. KeyCorp lifted their price objective on Schrödinger from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday. Piper Sandler decreased their target price on Schrödinger from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $33.00.

Schrödinger Price Performance

The business has a 50 day simple moving average of $21.98 and a 200-day simple moving average of $20.87. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of -10.77 and a beta of 1.77.

Schrödinger (NASDAQ:SDGR) last posted its earnings results 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). The business had revenue of $88.32 million for the quarter, compared to the consensus estimate of $83.20 million. Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. As a group, equities analysts predict that Schrödinger, Inc. will post -2.37 earnings per share for the current year.

Institutional Investors Weigh In On Schrödinger

A number of hedge funds and other institutional investors have recently made changes to their positions in SDGR. Point72 Hong Kong Ltd acquired a new position in Schrödinger in the 4th quarter worth $27,000. Paradigm Asset Management Co. LLC acquired a new stake in shares of Schrödinger in the 4th quarter valued at about $50,000. GAMMA Investing LLC lifted its holdings in shares of Schrödinger by 87.5% in the fourth quarter. GAMMA Investing LLC now owns 2,796 shares of the company’s stock valued at $54,000 after purchasing an additional 1,305 shares in the last quarter. KBC Group NV boosted its position in shares of Schrödinger by 73.9% during the fourth quarter. KBC Group NV now owns 4,361 shares of the company’s stock worth $84,000 after buying an additional 1,853 shares during the period. Finally, Bayesian Capital Management LP bought a new position in shares of Schrödinger during the fourth quarter worth about $199,000. 79.05% of the stock is currently 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.