Traders Buy High Volume of Schrodinger Call Options (NASDAQ:SDGR)

Schrodinger, Inc. (NASDAQ:SDGR) was the recipient of some unusual options trading on Thursday. Investors purchased 4,268 call options on the stock. This represents an increase of approximately 412% compared to the typical daily volume of 834 call options.

Wall Street Analyst Weigh In

SDGR has been the subject of several research reports. Wall Street Zen upgraded Schrodinger from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. UBS Group began coverage on shares of Schrodinger in a report on Friday, August 14th. They issued a “neutral” rating and a $19.00 price objective for the company. Finally, Weiss Ratings raised shares of Schrodinger from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 27th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.50.

Institutional Trading of Schrodinger

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Schrodinger during the second quarter valued at $170,978,000. Rubric Capital Management LP raised its position in shares of Schrodinger by 43.8% during the 1st quarter. Rubric Capital Management LP now owns 6,000,000 shares of the company’s stock worth $68,160,000 after buying an additional 1,828,502 shares in the last quarter. Amova Asset Management Americas Inc. lifted its stake in shares of Schrodinger by 6.8% in the 4th quarter. Amova Asset Management Americas Inc. now owns 2,819,670 shares of the company’s stock worth $50,359,000 after acquiring an additional 180,735 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Schrodinger in the second quarter valued at approximately $4,986,000. Finally, Tejara Capital Ltd acquired a new position in shares of Schrodinger during the second quarter valued at approximately $4,553,000. Institutional investors own 79.05% of the company’s stock.

Schrodinger Trading Up 16.4%

NASDAQ:SDGR traded up $3.93 during mid-day trading on Thursday, hitting $27.86. The stock had a trading volume of 2,833,152 shares, compared to its average volume of 1,336,640. The company has a 50 day simple moving average of $17.99 and a 200-day simple moving average of $14.96. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of -37.62 and a beta of 1.69. Schrodinger has a 52 week low of $10.94 and a 52 week high of $28.63.

Schrodinger (NASDAQ:SDGR) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.41) by $0.49. The company had revenue of $58.89 million for the quarter, compared to analyst estimates of $47.19 million. Schrodinger had a negative net margin of 20.98% and a negative return on equity of 16.37%. Schrodinger’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.65) earnings per share. As a group, equities research analysts anticipate that Schrodinger will post -1.5 earnings per share for the current year.

About Schrodinger

Schrödinger, Inc develops computational software designed to accelerate drug discovery and materials science research. Its platform uses physics-based modeling, machine learning and related computational methods to help scientists analyze molecular structures, predict interactions and identify potential compounds for further development.

The company’s software products support a range of research activities, including molecular modeling, virtual screening, structure-based drug design, free-energy calculations and collaborative data management.