Schrödinger (NASDAQ:SDGR) Trading Up 8% – Here’s Why

Schrödinger, Inc. (NASDAQ:SDGR)’s share price was up 8% during mid-day trading on Tuesday . The company traded as high as $20.54 and last traded at $20.52. Approximately 283,144 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 537,528 shares. The stock had previously closed at $19.00.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets lifted their price target on shares of Schrödinger from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Schrödinger presently has an average rating of “Moderate Buy” and a consensus price target of $32.90.

Schrödinger Price Performance

The stock has a fifty day moving average price of $20.59 and a two-hundred day moving average price of $20.06. The company has a market cap of $1.78 billion, a P/E ratio of -10.43 and a beta of 1.59.

Schrödinger (NASDAQ:SDGR) last announced its earnings results on Tuesday, November 12th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.12). The business had revenue of $35.30 million for the quarter, compared to the consensus estimate of $41.25 million. Schrödinger had a negative net margin of 91.84% and a negative return on equity of 35.77%. The firm’s revenue was down 17.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.86) EPS. As a group, analysts forecast that Schrödinger, Inc. will post -2.29 earnings per share for the current year.

Institutional Trading of Schrödinger

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. grew its position in Schrödinger by 5.0% in the third quarter. Harbor Capital Advisors Inc. now owns 13,059 shares of the company’s stock worth $242,000 after buying an additional 622 shares during the last quarter. KBC Group NV boosted its stake in shares of Schrödinger by 45.4% during the 3rd quarter. KBC Group NV now owns 2,508 shares of the company’s stock worth $47,000 after acquiring an additional 783 shares in the last quarter. Ensign Peak Advisors Inc grew its holdings in shares of Schrödinger by 4.1% in the 2nd quarter. Ensign Peak Advisors Inc now owns 23,893 shares of the company’s stock worth $462,000 after acquiring an additional 950 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Schrödinger by 87.5% during the fourth quarter. GAMMA Investing LLC now owns 2,796 shares of the company’s stock worth $54,000 after purchasing an additional 1,305 shares during the period. Finally, Private Advisor Group LLC lifted its holdings in shares of Schrödinger by 20.5% during the third quarter. Private Advisor Group LLC now owns 12,150 shares of the company’s stock valued at $225,000 after purchasing an additional 2,065 shares during the last quarter. 79.05% of the stock is currently 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.