Schrödinger (NASDAQ:SDGR) Shares Gap Up – Here’s Why

Schrödinger, Inc. (NASDAQ:SDGR)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $19.22, but opened at $20.49. Schrödinger shares last traded at $21.97, with a volume of 650,109 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Piper Sandler decreased their price target on Schrödinger from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. KeyCorp upped their target price on shares of Schrödinger from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $32.29.

Schrödinger Trading Up 27.4 %

The company has a market cap of $1.79 billion, a P/E ratio of -10.47 and a beta of 1.77. The company’s 50-day moving average price is $21.98 and its two-hundred day moving average price is $20.74.

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

Insider Buying and Selling

In related news, CFO Geoffrey Craig Porges sold 5,491 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $21.76, for a total transaction of $119,484.16. Following the completion of the transaction, the chief financial officer now directly owns 27,544 shares in the company, valued at $599,357.44. This represents a 16.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Schrödinger

Institutional investors have recently modified their holdings of the company. Stifel Financial Corp grew its position in Schrödinger by 12.3% in the 3rd quarter. Stifel Financial Corp now owns 27,541 shares of the company’s stock worth $511,000 after purchasing an additional 3,020 shares during the last quarter. State Street Corp boosted its position in shares of Schrödinger by 1.8% during the third quarter. State Street Corp now owns 2,155,620 shares of the company’s stock worth $39,987,000 after buying an additional 38,972 shares during the period. Barclays PLC grew its holdings in Schrödinger by 421.6% in the 3rd quarter. Barclays PLC now owns 107,554 shares of the company’s stock worth $1,995,000 after buying an additional 86,933 shares in the last quarter. Geode Capital Management LLC raised its stake in Schrödinger by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,319,205 shares of the company’s stock valued at $24,476,000 after acquiring an additional 24,114 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Schrödinger by 3.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 122,702 shares of the company’s stock valued at $2,276,000 after acquiring an additional 4,403 shares in the last quarter. Institutional investors own 79.05% of the company’s stock.

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.