Schrödinger (NASDAQ:SDGR) Hits New 12-Month Low at $18.08

Schrödinger, Inc. (NASDAQ:SDGR)’s stock price hit a new 52-week low on Wednesday . The company traded as low as $18.08 and last traded at $18.20, with a volume of 418851 shares traded. The stock had previously closed at $19.19.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SDGR. KeyCorp lowered their target price on Schrödinger from $30.00 to $25.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Craig Hallum lowered their target price on Schrödinger from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Citigroup lowered their target price on Schrödinger from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. SVB Leerink began coverage on Schrödinger in a report on Tuesday, July 2nd. They set an “outperform” rating and a $29.00 price target for the company. Finally, Leerink Partnrs upgraded Schrödinger to a “strong-buy” rating in a report on Tuesday, July 2nd. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $35.78.

Schrödinger Price Performance

The business has a 50 day simple moving average of $20.96 and a 200-day simple moving average of $24.22.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SDGR. SG Americas Securities LLC increased its holdings in Schrödinger by 8.4% during the 4th quarter. SG Americas Securities LLC now owns 5,125 shares of the company’s stock worth $183,000 after acquiring an additional 397 shares during the period. Raymond James & Associates raised its holdings in shares of Schrödinger by 55.6% during the 4th quarter. Raymond James & Associates now owns 18,337 shares of the company’s stock valued at $656,000 after buying an additional 6,552 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in Schrödinger during the 4th quarter worth approximately $281,000. International Assets Investment Management LLC grew its position in Schrödinger by 3,480.0% during the 4th quarter. International Assets Investment Management LLC now owns 1,790 shares of the company’s stock worth $64,000 after acquiring an additional 1,740 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Schrödinger by 5.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,519 shares of the company’s stock worth $878,000 after acquiring an additional 1,278 shares during the last quarter. Institutional investors own 79.05% of the company’s stock.

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.