Schrodinger (NASDAQ:SDGR) Trading 8.8% Higher

Shares of Schrodinger Inc (NASDAQ:SDGR) traded up 8.8% during mid-day trading on Thursday . The stock traded as high as $51.89 and last traded at $51.71. 1,569,764 shares traded hands during trading, an increase of 21% from the average session volume of 1,294,779 shares. The stock had previously closed at $47.51.

Several equities research analysts have issued reports on the company. ValuEngine lowered Schrodinger from a “buy” rating to a “hold” rating in a research note on Tuesday, September 1st. Morgan Stanley lifted their price target on Schrodinger from $52.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 15th. Finally, Zacks Investment Research lowered Schrodinger from a “buy” rating to a “hold” rating in a research note on Wednesday, August 12th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $78.25.

The company has a debt-to-equity ratio of 0.03, a current ratio of 7.13 and a quick ratio of 7.13. The firm has a 50 day moving average of $58.75 and a two-hundred day moving average of $71.44.

Schrodinger (NASDAQ:SDGR) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.20. The company had revenue of $23.10 million during the quarter, compared to analysts’ expectations of $17.93 million. The business’s quarterly revenue was up 21.6% on a year-over-year basis. As a group, analysts forecast that Schrodinger Inc will post -0.49 earnings per share for the current fiscal year.

In related news, Director Richard Friesner sold 500,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $62.04, for a total value of $31,020,000.00. Following the transaction, the director now directly owns 605,450 shares of the company’s stock, valued at approximately $37,562,118. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jenny Herman sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $70.00, for a total value of $70,000.00. Following the completion of the transaction, the vice president now directly owns 2,220 shares in the company, valued at $155,400. The disclosure for this sale can be found here. Insiders sold a total of 3,766,014 shares of company stock worth $228,840,031 in the last 90 days.

Hedge funds have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise increased its stake in Schrodinger by 21.0% in the 2nd quarter. Banque Cantonale Vaudoise now owns 6,635 shares of the company’s stock worth $608,000 after buying an additional 1,153 shares in the last quarter. KMG Fiduciary Partners LLC purchased a new stake in shares of Schrodinger during the second quarter valued at $209,000. First Trust Advisors LP purchased a new stake in shares of Schrodinger during the second quarter valued at $3,423,000. Hodges Capital Management Inc. purchased a new stake in shares of Schrodinger during the second quarter valued at $8,470,000. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Schrodinger during the second quarter valued at $9,413,000. 36.07% of the stock is currently owned by institutional investors and hedge funds.

Schrodinger Company Profile (NASDAQ:SDGR)

Schrödinger, Inc provides computational platform to accelerate drug discovery and materials design for biopharmaceutical and industrial companies, academic institutions, and government laboratories worldwide. The company operates through two segments, Software and Drug Discovery. It segment is focused on selling its software for drug discovery in the life sciences industry, as well as to customers in materials science industries.

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