Schrödinger (NASDAQ:SDGR) Shares Gap Up – Here’s What Happened

by · The Markets Daily

Shares of Schrödinger, Inc. (NASDAQ:SDGR – Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $19.54, but opened at $23.00. Schrödinger shares last traded at $22.31, with a volume of 756,520 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SDGR shares. BMO Capital Markets cut their target price on Schrödinger from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Morgan Stanley decreased their target price on Schrödinger from $43.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, August 21st. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.60.

Check Out Our Latest Stock Analysis on Schrödinger

Schrödinger Trading Up 11.1 %

The stock has a market capitalization of $1.58 billion, a PE ratio of -8.33 and a beta of 1.50. The firm has a 50 day moving average of $18.70 and a two-hundred day moving average of $20.42.

Insiders Place Their Bets

In other Schrödinger news, insider Margaret Dugan sold 1,531 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $17.78, for a total transaction of $27,221.18. Following the completion of the transaction, the insider now owns 13,469 shares of the company’s stock, valued at approximately $239,478.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 8.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Schrödinger

Several hedge funds have recently made changes to their positions in the business. Texas Permanent School Fund Corp lifted its stake in shares of Schrödinger by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 47,869 shares of the company’s stock worth $1,292,000 after purchasing an additional 626 shares in the last quarter. Illinois Municipal Retirement Fund boosted its position in shares of Schrödinger by 2.7% during the first quarter. Illinois Municipal Retirement Fund now owns 32,043 shares of the company’s stock worth $865,000 after buying an additional 831 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Schrödinger by 22.7% during the first quarter. Russell Investments Group Ltd. now owns 218,564 shares of the company’s stock worth $5,901,000 after buying an additional 40,434 shares during the period. ProShare Advisors LLC boosted its position in shares of Schrödinger by 7.4% during the first quarter. ProShare Advisors LLC now owns 10,987 shares of the company’s stock worth $297,000 after buying an additional 753 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its position in Schrödinger by 29.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 20,062 shares of the company’s stock worth $528,000 after purchasing an additional 4,510 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.

About Schrödinger

(Get Free Report)

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.

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