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

Schrödinger, Inc. (NASDAQ:SDGR) gapped up prior to trading 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 changing hands.

Analysts Set New Price Targets

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

Schrödinger Trading Up 11.1 %

The company has a market cap of $1.58 billion, a price-to-earnings ratio of -8.33 and a beta of 1.50. The firm’s fifty day moving average price is $18.70 and its 200-day moving average price is $20.42.

Insiders Place Their Bets

In other Schrödinger news, insider Margaret Dugan sold 1,531 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $17.78, for a total transaction of $27,221.18. Following the sale, the insider now directly owns 13,469 shares of the company’s stock, valued at $239,478.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Schrödinger

Institutional investors and hedge funds have recently modified their holdings of the company. Texas Permanent School Fund Corp grew its stake in Schrödinger by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 47,869 shares of the company’s stock valued at $1,292,000 after buying an additional 626 shares during the last quarter. Illinois Municipal Retirement Fund grew its stake in Schrödinger by 2.7% in the 1st quarter. Illinois Municipal Retirement Fund now owns 32,043 shares of the company’s stock valued at $865,000 after buying an additional 831 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Schrödinger by 22.7% during the 1st quarter. Russell Investments Group Ltd. now owns 218,564 shares of the company’s stock worth $5,901,000 after purchasing an additional 40,434 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Schrödinger by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 10,987 shares of the company’s stock worth $297,000 after purchasing an additional 753 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in shares of Schrödinger by 29.0% during the 1st 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 in the last quarter. 79.05% of the stock is owned by institutional investors.

About Schrödinger

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.