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

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

Wall Street Analysts Forecast Growth

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 note on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Schrödinger has a consensus rating of “Moderate Buy” and an average price target of $32.90.

Schrödinger Trading Up 11.2 %

The business has a 50-day moving average price of $20.48 and a 200-day moving average price of $19.99. The firm has a market cap of $1.54 billion, a P/E ratio of -9.05 and a beta of 1.59.

Schrödinger (NASDAQ:SDGR) last posted 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 net margin of 91.84% and a negative return on equity of 35.77%. The business had revenue of $35.30 million during the quarter, compared to the consensus estimate of $41.25 million. During the same quarter in the prior year, the firm posted ($0.86) EPS. The company’s revenue for the quarter was down 17.1% compared to the same quarter last year. On average, equities analysts anticipate that Schrödinger, Inc. will post -2.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Schrödinger

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV boosted its stake in 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 acquiring an additional 783 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Schrödinger by 87.5% in the 4th quarter. GAMMA Investing LLC now owns 2,796 shares of the company’s stock worth $54,000 after purchasing an additional 1,305 shares in the last quarter. Quarry LP increased its position in Schrödinger by 1,150.0% during the 3rd quarter. Quarry LP now owns 2,825 shares of the company’s stock valued at $52,000 after buying an additional 2,599 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Schrödinger in the third quarter valued at about $102,000. Finally, Point72 DIFC Ltd acquired a new stake in Schrödinger in the third quarter worth 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.