Schrodinger (NASDAQ:SDGR) Stock Price Up 6.2% – Time to Buy?

Schrodinger, Inc. (NASDAQ:SDGR) rose 6.2% during mid-day trading on Friday . The stock traded as high as $16.74 and last traded at $17.1480. Approximately 339,232 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 1,368,749 shares. The stock had previously closed at $16.14.

Wall Street Analyst Weigh In

SDGR has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Schrodinger from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 9th. Morgan Stanley cut their price objective on Schrodinger from $19.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, May 14th. KeyCorp reduced their target price on Schrodinger from $25.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Finally, UBS Group dropped their price target on Schrodinger from $18.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, March 17th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Schrodinger currently has a consensus rating of “Hold” and a consensus target price of $20.25.

Schrodinger Stock Up 5.2%

The firm has a market capitalization of $1.25 billion, a PE ratio of -12.11 and a beta of 1.64. The business has a 50-day moving average price of $13.58 and a 200-day moving average price of $14.14.

Schrodinger (NASDAQ:SDGR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.25). The company had revenue of $58.59 million for the quarter, compared to analysts’ expectations of $47.57 million. Schrodinger had a negative return on equity of 30.85% and a negative net margin of 40.61%.The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.82) EPS. On average, equities research analysts anticipate that Schrodinger, Inc. will post -1.89 earnings per share for the current year.

Insider Activity

In related news, CEO Ramy Farid sold 43,000 shares of the company’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $12.33, for a total value of $530,190.00. Following the completion of the sale, the chief executive officer owned 330,824 shares of the company’s stock, valued at approximately $4,079,059.92. This represents a 11.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.10% of the company’s stock.

Institutional Trading of Schrodinger

Several hedge funds have recently made changes to their positions in SDGR. Vanguard Group Inc. increased its holdings in shares of Schrodinger by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 6,464,426 shares of the company’s stock worth $115,584,000 after buying an additional 125,349 shares during the last quarter. Rubric Capital Management LP lifted its holdings in Schrodinger by 43.8% in the first quarter. Rubric Capital Management LP now owns 6,000,000 shares of the company’s stock valued at $68,160,000 after acquiring an additional 1,828,502 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Schrodinger by 3.5% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,714,767 shares of the company’s stock valued at $84,300,000 after acquiring an additional 160,198 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Schrodinger by 12.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,717,890 shares of the company’s stock worth $66,476,000 after acquiring an additional 414,231 shares during the period. Finally, Amova Asset Management Americas Inc. grew its position in Schrodinger by 13.2% in the first quarter. Amova Asset Management Americas Inc. now owns 3,190,837 shares of the company’s stock worth $36,248,000 after acquiring an additional 371,167 shares during the period. Hedge funds and other institutional investors own 79.05% of the company’s stock.

About Schrodinger

Schrödinger, Inc is a life sciences and materials discovery company that specializes in the application of physics-based computational platforms to accelerate drug discovery and advanced materials design. Founded in 1990 by Professor Richard A. Friesner, Schrödinger has developed a suite of proprietary software tools—such as Maestro for molecular modeling, Glide for molecular docking and Jaguar for quantum chemistry calculations—that enable scientists to predict molecular behavior with high accuracy.