Schrodinger (NASDAQ:SDGR) Stock Price Up 6.1% – What’s Next?

Schrodinger, Inc. (NASDAQ:SDGR)’s stock price rose 6.1% during mid-day trading on Friday. The stock traded as high as $27.22 and last traded at $27.9870. Approximately 145,014 shares were traded during mid-day trading, a decline of 90% from the average session volume of 1,522,040 shares. The stock had previously closed at $26.39.

Wall Street Analysts Forecast Growth

SDGR has been the topic of several research reports. Zacks Research upgraded Schrodinger from a “hold” rating to a “strong-buy” rating in a research report on Monday. Weiss Ratings upgraded Schrodinger from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 27th. Wall Street Zen raised Schrodinger from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, UBS Group started coverage on shares of Schrodinger in a report on Friday, August 14th. They set a “neutral” rating and a $19.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Schrodinger currently has an average rating of “Moderate Buy” and an average target price of $20.80.

Schrodinger Price Performance

The stock’s 50 day simple moving average is $22.49 and its two-hundred day simple moving average is $16.89. The firm has a market cap of $2.03 billion, a P/E ratio of -37.04 and a beta of 1.62.

Schrodinger (NASDAQ:SDGR) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.49. The firm had revenue of $58.89 million for the quarter, compared to analysts’ expectations of $47.19 million. Schrodinger had a negative return on equity of 16.37% and a negative net margin of 20.98%.The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.65) EPS. Equities research analysts anticipate that Schrodinger, Inc. will post -1.5 earnings per share for the current year.

Insider Transactions at Schrodinger

In other Schrodinger news, insider Karen Akinsanya sold 31,599 shares of the business’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $29.37, for a total value of $928,062.63. Following the sale, the insider directly owned 69,956 shares of the company’s stock, valued at approximately $2,054,607.72. The trade was a 31.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.10% of the company’s stock.

Hedge Funds Weigh In On Schrodinger

Several institutional investors and hedge funds have recently modified their holdings of SDGR. BlackRock Inc. bought a new stake in shares of Schrodinger during the second quarter valued at approximately $170,978,000. Rubric Capital Management LP raised its holdings in Schrodinger by 43.8% in the 1st quarter. Rubric Capital Management LP now owns 6,000,000 shares of the company’s stock worth $68,160,000 after acquiring an additional 1,828,502 shares during the last quarter. Amova Asset Management Americas Inc. lifted its position in Schrodinger by 13.2% in the 1st quarter. Amova Asset Management Americas Inc. now owns 3,190,837 shares of the company’s stock valued at $36,248,000 after acquiring an additional 371,167 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Schrodinger in the 2nd quarter valued at approximately $4,986,000. Finally, Tejara Capital Ltd bought a new position in Schrodinger in the 2nd quarter valued at approximately $4,553,000. 79.05% of the stock is currently owned by institutional investors.

Schrodinger Company Profile

Schrödinger, Inc is a technology company that develops computational software for pharmaceutical and materials research. Its platform uses physics-based modeling, machine learning and other computational methods to help scientists design and optimize molecules, evaluate potential drug candidates and investigate material properties.

The company’s software offerings include molecular modeling, simulation, predictive modeling and collaborative research tools, such as Maestro, Desmond, Jaguar, FEP+ and LiveDesign.