Schrödinger (NASDAQ:SDGR) Trading Up 8% – What’s Next?

Schrödinger, Inc. (NASDAQ:SDGR) rose 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.

Analyst Upgrades and Downgrades

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

Schrödinger Price Performance

The stock has a market cap of $1.54 billion, a PE ratio of -9.05 and a beta of 1.59. The company’s fifty day moving average is $20.48 and its 200-day moving average is $19.99.

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

Institutional Investors Weigh In On Schrödinger

Several hedge funds have recently bought and sold shares of the stock. KBC Group NV lifted its stake in shares of Schrödinger by 45.4% in the 3rd quarter. KBC Group NV now owns 2,508 shares of the company’s stock valued at $47,000 after purchasing an additional 783 shares during the period. Quarry LP raised its position in shares of Schrödinger by 1,150.0% in the third quarter. Quarry LP now owns 2,825 shares of the company’s stock worth $52,000 after acquiring an additional 2,599 shares during the period. GAMMA Investing LLC boosted its stake in shares of Schrödinger by 87.5% during the 4th quarter. GAMMA Investing LLC now owns 2,796 shares of the company’s stock worth $54,000 after acquiring an additional 1,305 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Schrödinger during the 3rd quarter valued at about $102,000. Finally, Point72 DIFC Ltd purchased a new position in shares of Schrödinger in the 3rd quarter valued at about $151,000. Hedge funds and other institutional investors 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.