Schrödinger (NASDAQ: SDGR) hits new 52-week low following insider selling
Schrödinger, Inc.’s (NASDAQ: SDGR) share price hit a new 52-week low during trading on Wednesday after an insider sold shares of the company. The company traded as low as $ 34.11 and last traded at $ 34.25, with volume of 513 shares changing hands. The stock had previously closed at $ 35.32. Specifically, insider Robert Lorne Abel sold 15,601 shares of the company in a trade on Monday, December 13. The stock was sold for an average price of $ 36.28, for a total value of $ 566,004.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible through the SEC website. In addition, insider Karen Akinsanya sold 1,393 shares of the company in a trade on Friday, October 15. The stock was sold for an average price of $ 55.75, for a total value of $ 77,659.75. Disclosure of this sale can be found here. 5.00% of the shares are held by insiders of the company.
Several brokerage firms have recently weighed on SDGR. Zacks Investment Research downgraded Schrödinger’s stock rating from a “hold” rating to a “sell” rating in a report released on Tuesday, November 16. Morgan Stanley downgraded Schrödinger’s stock rating from “overweight” to “on par” and lowered its price target for the share from $ 82.00 to $ 49.00 in released report Friday, November 19. Craig Hallum lowered his price target for Schrödinger stock from $ 85 to $ 80.00 and set a “buy” rating on the stock in a report released on Thursday, November 11. Piper Sandler assumed coverage of Schrödinger’s actions in a report released on Thursday, November 18. They issued an “overweight” rating and a target price of $ 87.00 on the stock. Finally, Bank of America downgraded Schrödinger’s shares from a “buy” rating to a “neutral” rating and lowered its price target for the company from $ 80.00 to $ 52.00 in a released report. Thursday, November 11. One research analyst rated the stock with a sell rating, two assigned a conservation rating, and four assigned a buy rating to the company’s stock. According to MarketBeat data, the stock currently has an average rating of “Hold” and an average price target of $ 77.57.
The company’s fifty-day simple moving average is $ 47.37 and its two-hundred-day simple moving average is $ 60.05. The company has a market cap of $ 2.43 billion, a PE ratio of -30.37 and a beta of 1.14.
Schrödinger (NASDAQ: SDGR) last released its quarterly earnings data on Wednesday, November 10. The company reported ($ 0.49) EPS for the quarter, missing the consensus estimate of ($ 0.39) of ($ 0.10). Schrödinger had a negative net margin of 64.76% and a negative return on equity of 13.24%. The company posted revenue of $ 29.85 million in the quarter, compared to analysts’ estimates of $ 33.10 million. During the same period of the previous year, the company posted earnings per share of $ 0.05. As a group, analysts predict that Schrödinger, Inc. will post -1.31 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently changed their holdings in the company. Sandy Spring Bank increased its stake in Schrödinger by 135.3% in the second quarter. Sandy Spring Bank now owns 400 shares of the company valued at $ 30,000 after purchasing an additional 230 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new position in Schrödinger during the second quarter valued at $ 66,000. Koshinski Asset Management Inc. purchased a new position in Schrödinger during the third quarter valued at $ 49,000. Massmutual Trust Co. FSB ADV increased its stake in Schrödinger by 518.1% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,193 shares of the company valued at $ 90,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Kistler Tiffany Companies LLC increased its stake in Schrödinger by 20.2% during the second quarter. Kistler Tiffany Companies LLC now owns 1,399 shares of the company valued at $ 106,000 after purchasing an additional 235 shares in the last quarter. 55.17% of the shares are currently held by institutional investors.
About Schrödinger (NASDAQ: SDGR)
Schrödinger, Inc. provides a physics-based software platform that enables the discovery of new molecules for drug development and materials applications. The company operates through two segments, Software and Drug Discovery. The Software segment is focused on selling its software for drug discovery in the life science industry, as well as to customers in the materials science industries.
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