Schrödinger (NASDAQ:SDGR) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Schrödinger, Inc. (NASDAQ:SDGR) saw unusually-strong trading volume on Wednesday . Approximately 715,436 shares were traded during mid-day trading, an increase of 28% from the previous session’s volume of 560,533 shares.The stock last traded at $24.96 and had previously closed at $21.33.

Analysts Set New Price Targets

Separately, BMO Capital Markets increased their target price 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.90.

Schrödinger Trading Up 0.3 %

The company has a market cap of $1.78 billion, a PE ratio of -10.43 and a beta of 1.59. The business’s 50 day moving average is $20.59 and its two-hundred day moving average is $20.06.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SDGR. KBC Group NV lifted its holdings in shares of Schrödinger by 45.4% in the third quarter. KBC Group NV now owns 2,508 shares of the company’s stock worth $47,000 after buying an additional 783 shares in the last quarter. GAMMA Investing LLC increased its holdings in Schrödinger by 87.5% in the 4th quarter. GAMMA Investing LLC now owns 2,796 shares of the company’s stock valued at $54,000 after acquiring an additional 1,305 shares during the last quarter. Quarry LP lifted its stake in Schrödinger by 1,150.0% in 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. Point72 Asia Singapore Pte. Ltd. bought a new position 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 during the third quarter valued at about $151,000. 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.