Schrödinger (NASDAQ:SDGR) Stock Price Down 8.3% – What’s Next?

Schrödinger, Inc. (NASDAQ:SDGR)’s stock price dropped 8.3% on Thursday . The stock traded as low as $23.53 and last traded at $23.85. Approximately 422,116 shares changed hands during trading, a decline of 56% from the average daily volume of 953,197 shares. The stock had previously closed at $26.01.

Wall Street Analyst Weigh In

SDGR has been the topic of several research reports. KeyCorp upped their target price on Schrödinger from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. BMO Capital Markets upped their target price on Schrödinger from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.11.

Schrödinger Stock Performance

The company has a market cap of $1.75 billion, a P/E ratio of -10.29 and a beta of 1.61. The firm has a 50 day moving average price of $22.10 and a 200-day moving average price of $20.44.

Institutional Trading of Schrödinger

Several large investors have recently made changes to their positions in SDGR. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Schrödinger by 60.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,510,518 shares of the company’s stock worth $67,718,000 after acquiring an additional 1,319,464 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its stake in shares of Schrödinger by 108.7% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 2,464,911 shares of the company’s stock worth $47,499,000 after acquiring an additional 1,283,949 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Schrödinger by 58.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,945,182 shares of the company’s stock worth $36,083,000 after acquiring an additional 717,059 shares in the last quarter. Rubric Capital Management LP boosted its stake in shares of Schrödinger by 17.7% during the 3rd quarter. Rubric Capital Management LP now owns 3,685,503 shares of the company’s stock worth $68,366,000 after acquiring an additional 555,503 shares in the last quarter. Finally, Stephens Investment Management Group LLC boosted its stake in shares of Schrödinger by 39.6% during the 3rd 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 in the last quarter. Institutional investors own 79.05% of the company’s stock.

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.