Schrödinger (NASDAQ:SDGR) Shares Up 3.4% – What’s Next?

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

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets boosted their price target 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 investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.90.

Schrödinger Price Performance

The stock has a 50 day moving average price of $20.04 and a 200-day moving average price of $19.96. The stock has a market capitalization of $1.41 billion, a P/E ratio of -8.26 and a beta of 1.56.

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

Insider Buying and Selling at Schrödinger

In other Schrödinger news, insider Margaret Dugan sold 1,531 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was 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 10.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 8.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Schrödinger

Hedge funds have recently made changes to their positions in the business. Stephens Investment Management Group LLC lifted its stake in Schrödinger by 39.6% in the third quarter. Stephens Investment Management Group LLC now owns 1,539,870 shares of the company’s stock worth $28,565,000 after acquiring an additional 436,789 shares during the period. Barclays PLC lifted its position in shares of Schrödinger by 421.6% in the 3rd quarter. Barclays PLC now owns 107,554 shares of the company’s stock worth $1,995,000 after purchasing an additional 86,933 shares during the period. Millennium Management LLC lifted its position in shares of Schrödinger by 2,868.8% in the 2nd quarter. Millennium Management LLC now owns 487,831 shares of the company’s stock worth $9,435,000 after purchasing an additional 471,399 shares during the period. State Street Corp boosted its stake in shares of Schrödinger by 1.8% during the 3rd quarter. State Street Corp now owns 2,155,620 shares of the company’s stock valued at $39,987,000 after purchasing an additional 38,972 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Schrödinger by 1.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,191,054 shares of the company’s stock valued at $40,644,000 after buying an additional 29,920 shares during the period. 79.05% of the stock is owned by hedge funds and other 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.