Key Points
- Insider sale: Karen Akinsanya sold 31,599 Schrodinger shares for approximately $928,063 at an average price of $29.37, reducing her direct holdings by 31.12% to 69,956 shares. The transaction was made under a pre-arranged Rule 10b5-1 trading plan.
- Operating results: Schrodinger reported quarterly revenue of $58.89 million, up 7.5% year over year, and adjusted earnings of $0.08 per share, exceeding the consensus estimate for a $0.41 loss.
- Market outlook: Shares opened at $30.24 and have risen sharply within a $10.94–$31.03 12-month range, while analysts maintain a consensus “Hold” rating and an average price target of $20.50.
Schrodinger, Inc. (NASDAQ:SDGR - Get Free Report) insider Karen Akinsanya sold 31,599 shares of the stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $29.37, for a total transaction of $928,062.63. Following the completion of the sale, the insider directly owned 69,956 shares in the company, valued at approximately $2,054,607.72. This represents a 31.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Schrodinger Trading Up 4.2%
Schrodinger stock opened at $30.24 on Tuesday. Schrodinger, Inc. has a 12-month low of $10.94 and a 12-month high of $31.03. The firm has a 50-day moving average price of $18.79 and a 200-day moving average price of $15.33. The firm has a market capitalization of $2.23 billion, a PE ratio of -40.86 and a beta of 1.69.
Schrodinger (NASDAQ:SDGR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.41) by $0.49. Schrodinger had a negative net margin of 20.98% and a negative return on equity of 16.37%. The company had revenue of $58.89 million for the quarter, compared to the consensus estimate of $47.19 million. During the same period in the prior year, the firm posted ($0.65) EPS. The firm's revenue was up 7.5% compared to the same quarter last year. As a group, sell-side analysts predict that Schrodinger, Inc. will post -1.5 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Schrodinger
Institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of Schrodinger by 722.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,374 shares of the company's stock valued at $25,000 after purchasing an additional 1,207 shares during the period. Hantz Financial Services Inc. increased its holdings in Schrodinger by 5,025.8% during the 4th quarter. Hantz Financial Services Inc. now owns 1,589 shares of the company's stock worth $28,000 after purchasing an additional 1,558 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Schrodinger during the 4th quarter valued at $36,000. Purpose Unlimited Inc. bought a new stake in Schrodinger during the 4th quarter valued at $47,000. Finally, Allworth Financial LP purchased a new stake in shares of Schrodinger in the 2nd quarter worth $86,000. 79.05% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on SDGR. UBS Group began coverage on Schrodinger in a report on Friday, August 14th. They issued a "neutral" rating and a $19.00 price target on the stock. Weiss Ratings raised Schrodinger from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, August 27th. Finally, Wall Street Zen upgraded Schrodinger from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 8th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $20.50.
Check Out Our Latest Stock Analysis on Schrodinger
About Schrodinger
(
Get Free Report)
Schrödinger, Inc develops computational software designed to accelerate drug discovery and materials science research. Its platform uses physics-based modeling, machine learning and related computational methods to help scientists analyze molecular structures, predict interactions and identify potential compounds for further development.
The company's software products support a range of research activities, including molecular modeling, virtual screening, structure-based drug design, free-energy calculations and collaborative data management.
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