Schrodinger (NASDAQ:SDGR) Insider Sells $802,570.00 in Stock

Schrodinger, Inc. (NASDAQ:SDGR) insider Robert Abel sold 23,605 shares of the business’s stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $34.00, for a total transaction of $802,570.00. Following the transaction, the insider directly owned 54,219 shares of the company’s stock, valued at approximately $1,843,446. This represents a 30.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Schrodinger Stock Down 2.1%

SDGR stock traded down $0.67 during mid-day trading on Thursday, reaching $30.85. 1,358,677 shares of the stock traded hands, compared to its average volume of 1,556,762. Schrodinger, Inc. has a 52 week low of $10.94 and a 52 week high of $34.00. The business has a 50-day moving average of $26.55 and a two-hundred day moving average of $17.32. The firm has a market capitalization of $2.28 billion, a PE ratio of -39.05 and a beta of 1.69.

Schrodinger (NASDAQ:SDGR) last posted its quarterly earnings data on Wednesday, November 4th. The company reported ($0.50) EPS for the quarter, topping 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 business had revenue of $64.49 million for the quarter, compared to analyst estimates of $47.73 million. During the same period in the previous year, the company posted ($0.45) earnings per share. The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. On average, equities research analysts anticipate that Schrodinger, Inc. will post -1.39 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on SDGR. Zacks Research downgraded shares of Schrodinger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 3rd. Weiss Ratings upgraded shares of Schrodinger from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 27th. UBS Group upped their target price on shares of Schrodinger from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday, October 20th. BMO Capital Markets increased their price target on shares of Schrodinger from $24.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, October 12th. Finally, KeyCorp raised their price target on shares of Schrodinger from $20.00 to $32.00 and gave the stock an “overweight” rating in a research report on Friday, October 16th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Schrodinger has an average rating of “Hold” and a consensus price target of $26.67.

Institutional Trading of Schrodinger

Large investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in Schrodinger during the 2nd quarter valued at about $170,978,000. Rubric Capital Management LP grew its stake in Schrodinger by 43.8% during the first quarter. Rubric Capital Management LP now owns 6,000,000 shares of the company’s stock worth $68,160,000 after buying an additional 1,828,502 shares during the last quarter. Amova Asset Management Americas Inc. grew its stake in Schrodinger by 13.2% during the first quarter. Amova Asset Management Americas Inc. now owns 3,190,837 shares of the company’s stock worth $36,248,000 after buying an additional 371,167 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Schrodinger by 79.0% during the third quarter. Public Sector Pension Investment Board now owns 350,738 shares of the company’s stock worth $10,890,000 after buying an additional 154,824 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of Schrodinger during the third quarter worth approximately $5,271,000. 79.05% of the stock is currently owned by institutional investors.

About Schrodinger

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.