Schrödinger (NASDAQ:SDGR) Trading Up 7.7% – Here’s What Happened

Shares of Schrödinger, Inc. (NASDAQ:SDGR) traded up 7.7% during mid-day trading on Thursday . The stock traded as high as $22.96 and last traded at $23.37. Approximately 287,377 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 980,026 shares. The stock had previously closed at $21.70.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Piper Sandler dropped their target price on shares of Schrödinger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday. BMO Capital Markets raised their price objective on shares of Schrödinger from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, KeyCorp upped their price target on shares of Schrödinger from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.56.

Schrödinger Stock Performance

The business’s 50 day moving average is $22.23 and its 200-day moving average is $20.56. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of -9.93 and a beta of 1.61.

Schrödinger (NASDAQ:SDGR) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.20). Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. The company had revenue of $88.32 million for the quarter, compared to analyst estimates of $83.20 million. Equities research analysts forecast that Schrödinger, Inc. will post -2.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Schrödinger

A number of institutional investors have recently bought and sold shares of SDGR. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Schrödinger by 60.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,510,518 shares of the company’s stock worth $67,718,000 after purchasing an additional 1,319,464 shares during the period. Nikko Asset Management Americas Inc. boosted its holdings in Schrödinger by 108.7% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 2,464,911 shares of the company’s stock valued at $47,499,000 after acquiring an additional 1,283,949 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Schrödinger by 58.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,945,182 shares of the company’s stock worth $36,083,000 after acquiring an additional 717,059 shares during the period. Rubric Capital Management LP grew its position in shares of Schrödinger by 17.7% during the 3rd quarter. Rubric Capital Management LP now owns 3,685,503 shares of the company’s stock worth $68,366,000 after buying an additional 555,503 shares during the period. Finally, Stephens Investment Management Group LLC grew its stake in shares of Schrödinger by 39.6% in the 3rd quarter. Stephens Investment Management Group LLC now owns 1,539,870 shares of the company’s stock valued at $28,565,000 after buying an additional 436,789 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.

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.