Schrödinger (NASDAQ:SDGR) Trading 6.2% Higher – Here’s What Happened

Schrödinger, Inc. (NASDAQ:SDGR)’s share price shot up 6.2% during trading on Tuesday . The stock traded as high as $19.13 and last traded at $19.03. 458,073 shares traded hands during trading, a decline of 38% from the average session volume of 743,582 shares. The stock had previously closed at $17.92.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SDGR shares. Leerink Partners started coverage on shares of Schrödinger in a research report on Tuesday, July 2nd. They set an “outperform” rating and a $29.00 price target for the company. BMO Capital Markets dropped their price objective on Schrödinger from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. KeyCorp cut their target price on shares of Schrödinger from $30.00 to $25.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Morgan Stanley reduced their price target on shares of Schrödinger from $43.00 to $30.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 21st. Finally, Leerink Partnrs raised Schrödinger to a “strong-buy” rating in a report on Tuesday, July 2nd. Three investment 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.60.

Schrödinger Price Performance

The business has a 50 day moving average price of $19.25 and a two-hundred day moving average price of $21.12.

Schrödinger (NASDAQ:SDGR) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.74) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.11. The business had revenue of $47.33 million during the quarter, compared to the consensus estimate of $40.19 million. Schrödinger had a negative return on equity of 38.38% and a negative net margin of 100.42%. On average, research analysts forecast that Schrödinger, Inc. will post -2.19 EPS for the current year.

Insider Buying and Selling at Schrödinger

In other Schrödinger news, insider Margaret Dugan sold 1,531 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $17.78, for a total transaction of $27,221.18. Following the completion of the transaction, the insider now owns 13,469 shares of the company’s stock, valued at $239,478.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.60% of the stock is currently owned by insiders.

Institutional Trading of Schrödinger

Hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC grew its holdings in shares of Schrödinger by 145.3% in the second quarter. Nisa Investment Advisors LLC now owns 1,413 shares of the company’s stock valued at $27,000 after purchasing an additional 837 shares in the last quarter. GAMMA Investing LLC lifted its position in Schrödinger by 49.5% during the second quarter. GAMMA Investing LLC now owns 2,124 shares of the company’s stock valued at $41,000 after purchasing an additional 703 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Schrödinger in the 2nd quarter worth $66,000. PNC Financial Services Group Inc. increased its holdings in shares of Schrödinger by 186.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,127 shares of the company’s stock worth $76,000 after buying an additional 1,385 shares during the last quarter. Finally, Quest Partners LLC raised its position in shares of Schrödinger by 1,005.6% during the 2nd quarter. Quest Partners LLC now owns 4,555 shares of the company’s stock valued at $88,000 after buying an additional 4,143 shares in the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

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.