Schrodinger (NASDAQ:SDGR) Shares Down 4.5% – Here’s Why

Schrodinger, Inc. (NASDAQ:SDGR)’s share price traded down 4.5% during trading on Wednesday . The stock traded as low as $20.10 and last traded at $19.90. 474,572 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 1,318,817 shares. The stock had previously closed at $20.84.

Wall Street Analysts Forecast Growth

SDGR has been the subject of several analyst reports. Wall Street Zen upgraded Schrodinger from a “strong sell” rating to a “hold” rating in a report on Saturday, August 8th. UBS Group started coverage on shares of Schrodinger in a research report on Friday, August 14th. They set a “neutral” rating and a $19.00 price objective on the stock. Weiss Ratings upgraded shares of Schrodinger from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 27th. Finally, Morgan Stanley decreased their target price on shares of Schrodinger from $19.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.50.

Schrodinger Stock Performance

The firm has a market cap of $1.50 billion, a P/E ratio of -27.35 and a beta of 1.69. The business’s 50-day simple moving average is $17.09 and its 200 day simple moving average is $14.26.

Schrodinger (NASDAQ:SDGR) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.49. Schrodinger had a negative return on equity of 16.37% and a negative net margin of 20.98%.The firm had revenue of $58.89 million for the quarter, compared to analysts’ expectations of $47.19 million. During the same period in the prior year, the firm earned ($0.65) EPS. The company’s revenue was up 7.5% compared to the same quarter last year. As a group, equities research analysts expect that Schrodinger, Inc. will post -1.89 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SDGR. EverSource Wealth Advisors LLC increased its position in shares of Schrodinger by 722.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,374 shares of the company’s stock valued at $25,000 after purchasing an additional 1,207 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Schrodinger in the fourth quarter worth approximately $26,000. Hantz Financial Services Inc. grew its position in Schrodinger by 5,025.8% during the fourth quarter. Hantz Financial Services Inc. now owns 1,589 shares of the company’s stock valued at $28,000 after buying an additional 1,558 shares during the period. State of Wyoming bought a new stake in Schrodinger during the second quarter valued at approximately $39,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Schrodinger during the fourth quarter valued at approximately $36,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

About Schrodinger

Schrödinger, Inc is a life sciences and materials discovery company that specializes in the application of physics-based computational platforms to accelerate drug discovery and advanced materials design. Founded in 1990 by Professor Richard A. Friesner, Schrödinger has developed a suite of proprietary software tools—such as Maestro for molecular modeling, Glide for molecular docking and Jaguar for quantum chemistry calculations—that enable scientists to predict molecular behavior with high accuracy.