Schrödinger (NASDAQ:SDGR) Shares Up 11.3% - Here's What Happened

Shares of Schrödinger, Inc. (NASDAQ:SDGR - Get Free Report) traded up 11.3% on Tuesday . The company traded as high as $21.49 and last traded at $22.21. 537,589 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 746,474 shares. The stock had previously closed at $19.96.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. KeyCorp raised their target price on Schrödinger from $25.00 to $27.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Piper Sandler lowered their target price on Schrödinger from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $32.29.

Schrödinger Trading Up 3.6 %

The stock has a 50 day moving average price of $22.62 and a 200 day moving average price of $20.68. The company has a market cap of $1.65 billion, a PE ratio of -9.78 and a beta of 1.62.

Schrödinger (NASDAQ:SDGR - Get Free Report) last announced 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. Equities analysts expect that Schrödinger, Inc. will post -2.37 EPS for the current fiscal year.

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Insider Buying and Selling

In other Schrödinger news, CFO Geoffrey Craig Porges sold 5,491 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $21.76, for a total transaction of $119,484.16. Following the sale, the chief financial officer now owns 27,544 shares in the company, valued at approximately $599,357.44. This trade represents a 16.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Schrödinger

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Avanza Fonder AB bought a new stake in Schrödinger during the 4th quarter worth approximately $577,000. Barclays PLC raised its stake in Schrödinger by 421.6% during the 3rd quarter. Barclays PLC now owns 107,554 shares of the company's stock worth $1,995,000 after acquiring an additional 86,933 shares during the period. State Street Corp raised 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 valued at $39,987,000 after buying an additional 38,972 shares during the last quarter. Quest Partners LLC raised its position in shares of Schrödinger by 861.0% during the third quarter. Quest Partners LLC now owns 43,773 shares of the company's stock valued at $812,000 after buying an additional 39,218 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Schrödinger by 1.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,191,054 shares of the company's stock valued at $40,644,000 after buying an additional 29,920 shares during the last quarter. 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.