Schrödinger (NASDAQ:SDGR) Trading 11.3% Higher – Should You Buy?

Schrödinger, Inc. (NASDAQ:SDGR)’s share price shot up 11.3% during trading on Tuesday . The stock 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.

Wall Street Analysts Forecast Growth

SDGR has been the subject of several analyst reports. KeyCorp raised their price target on Schrödinger from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Piper Sandler dropped their price objective on Schrödinger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Finally, BMO Capital Markets increased their price target on Schrödinger from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating, six have issued 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 a consensus price target of $32.29.

Schrödinger Trading Up 8.5 %

The firm has a 50 day moving average price of $22.50 and a 200 day moving average price of $20.65. The stock has a market capitalization of $1.58 billion, a PE ratio of -9.26 and a beta of 1.62.

Schrödinger (NASDAQ:SDGR) last released its earnings results 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 business had revenue of $88.32 million for the quarter, compared to analysts’ expectations of $83.20 million. Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. On average, equities research analysts expect that Schrödinger, Inc. will post -2.37 EPS for the current year.

Insider Buying and Selling at Schrödinger

In other Schrödinger 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 value of $119,484.16. Following the sale, the chief financial officer now owns 27,544 shares of the company’s stock, valued at $599,357.44. The trade was a 16.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Schrödinger by 60.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,510,518 shares of the company’s stock worth $67,718,000 after buying an additional 1,319,464 shares in the last quarter. Nikko Asset Management Americas Inc. grew its position in Schrödinger by 108.7% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 2,464,911 shares of the company’s stock worth $47,499,000 after acquiring an additional 1,283,949 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Schrödinger by 58.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,945,182 shares of the company’s stock worth $36,083,000 after acquiring an additional 717,059 shares during the last quarter. Rubric Capital Management LP raised its position in Schrödinger by 17.7% during the third quarter. Rubric Capital Management LP now owns 3,685,503 shares of the company’s stock valued at $68,366,000 after purchasing an additional 555,503 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Schrödinger by 42.3% in the 4th quarter. Millennium Management LLC now owns 761,653 shares of the company’s stock valued at $14,692,000 after purchasing an additional 226,536 shares during the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

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.