Schrödinger (NASDAQ:SDGR) Shares Gap Up - What's Next?

Schrödinger, Inc. (NASDAQ:SDGR - Get Free Report)'s share 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 traded.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Piper Sandler cut their target price on shares of Schrödinger from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. KeyCorp lifted their price objective on Schrödinger from $30.00 to $32.00 and gave the company an "overweight" rating in a report on Wednesday. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $33.00.

Schrödinger Trading Down 5.3 %

The company has a market cap of $1.77 billion, a price-to-earnings ratio of -10.36 and a beta of 1.77. The stock's 50-day moving average is $21.98 and its 200-day moving average is $20.84.

Schrödinger (NASDAQ:SDGR - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.55) earnings per share for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.20). The firm had revenue of $88.32 million for the quarter, compared to the consensus estimate 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 predict that Schrödinger, Inc. will post -2.37 EPS for the current year.

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Insider Activity

In related news, CFO Geoffrey Craig Porges sold 5,491 shares of Schrödinger stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 27,544 shares in the company, valued at $599,357.44. The trade was a 16.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Karen Akinsanya sold 16,723 shares of the firm's stock in a transaction that occurred 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 transaction, the insider now directly owns 15,625 shares of the company's stock, valued at $392,031.25. This represents a 51.70 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.60% of the company's stock.

Institutional Trading of Schrödinger

Several hedge funds have recently bought and sold shares of the stock. Point72 Hong Kong Ltd purchased a new position in Schrödinger during the fourth quarter valued at $27,000. Paradigm Asset Management Co. LLC bought a new position in Schrödinger during the 4th quarter valued at about $50,000. GAMMA Investing LLC lifted its stake in shares of Schrödinger by 87.5% during the 4th quarter. GAMMA Investing LLC now owns 2,796 shares of the company's stock worth $54,000 after acquiring an additional 1,305 shares during the last quarter. KBC Group NV grew its holdings in shares of Schrödinger by 73.9% in the fourth quarter. KBC Group NV now owns 4,361 shares of the company's stock worth $84,000 after purchasing an additional 1,853 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Schrödinger in the fourth quarter valued at approximately $199,000. Institutional investors own 79.05% of the company's stock.

Schrödinger Company Profile

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.