Schrödinger (NASDAQ:SDGR) Trading 7% Higher

Schrödinger, Inc. (NASDAQ:SDGR) was up 7% on Thursday . The company traded as high as $21.90 and last traded at $21.89. Approximately 248,965 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 780,997 shares. The stock had previously closed at $20.46.

Analysts Set New Price Targets

SDGR has been the topic of a number of analyst reports. Leerink Partnrs raised Schrödinger to a “strong-buy” rating in a research report on Tuesday, July 2nd. Morgan Stanley decreased their price target on Schrödinger from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 21st. Leerink Partners initiated coverage on shares of Schrödinger in a research note on Tuesday, July 2nd. They set an “outperform” rating and a $29.00 price objective on the stock. Citigroup decreased their target price on shares of Schrödinger from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Finally, KeyCorp cut their price target on shares of Schrödinger from $30.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Schrödinger has a consensus rating of “Moderate Buy” and a consensus price target of $33.44.

Schrödinger Stock Up 3.6 %

The stock has a market cap of $1.54 billion, a P/E ratio of -11.64 and a beta of 1.51. The business’s 50 day simple moving average is $20.58 and its two-hundred day simple moving average is $23.51.

Hedge Funds Weigh In On Schrödinger

A number of institutional investors and hedge funds have recently bought and sold shares of SDGR. Nisa Investment Advisors LLC increased its stake 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 buying an additional 837 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Schrödinger by 49.5% during the second quarter. GAMMA Investing LLC now owns 2,124 shares of the company’s stock worth $41,000 after purchasing an additional 703 shares during the period. International Assets Investment Management LLC raised 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 purchasing an additional 1,740 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Schrödinger in the 2nd quarter valued at about $66,000. Finally, PNC Financial Services Group Inc. increased its position in Schrödinger by 186.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,127 shares of the company’s stock valued at $76,000 after purchasing an additional 1,385 shares during the period. Institutional investors and hedge funds 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.