Schrödinger (NASDAQ:SDGR) Trading Up 3.4% – Here’s Why

Schrödinger, Inc. (NASDAQ:SDGR)’s stock price was up 3.4% during trading on Tuesday . The company traded as high as $19.64 and last traded at $19.46. Approximately 150,631 shares were traded during trading, a decline of 80% from the average daily volume of 745,977 shares. The stock had previously closed at $18.82.

Analysts Set New Price Targets

Separately, BMO Capital Markets raised their price target on Schrödinger from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Three research 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.90.

Schrödinger Stock Up 2.5 %

The company has a market cap of $1.41 billion, a price-to-earnings ratio of -8.24 and a beta of 1.56. The business’s fifty day simple moving average is $20.07 and its two-hundred day simple moving average is $19.94.

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

Insider Transactions at Schrödinger

In related news, insider Margaret Dugan sold 1,531 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $17.78, for a total value of $27,221.18. Following the transaction, the insider now owns 13,469 shares in the company, valued at $239,478.82. The trade was a 10.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 8.60% of the company’s stock.

Institutional Trading of Schrödinger

Several hedge funds and other institutional investors have recently made changes to their positions in the company. KBC Group NV boosted its stake in shares of Schrödinger by 45.4% in the third quarter. KBC Group NV now owns 2,508 shares of the company’s stock valued at $47,000 after buying an additional 783 shares in the last quarter. Quarry LP boosted its position in shares of Schrödinger by 1,150.0% during the 3rd quarter. Quarry LP now owns 2,825 shares of the company’s stock worth $52,000 after purchasing an additional 2,599 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Schrödinger during the 2nd quarter worth $66,000. Quest Partners LLC increased its holdings in shares of Schrödinger by 1,005.6% in the 2nd quarter. Quest Partners LLC now owns 4,555 shares of the company’s stock valued at $88,000 after purchasing an additional 4,143 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Schrödinger in the third quarter valued at about $102,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Schrödinger Company Profile

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.