Schrodinger (NASDAQ:SDGR) Shares Down 4.5% – Here’s Why

Schrodinger, Inc. (NASDAQ:SDGR) shares dropped 4.5% during trading on Wednesday . The stock traded as low as $20.10 and last traded at $19.90. Approximately 474,572 shares changed hands during trading, a decline of 64% from the average daily volume of 1,318,817 shares. The stock had previously closed at $20.84.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. UBS Group began coverage on Schrodinger in a research report on Friday, August 14th. They set a “neutral” rating and a $19.00 price objective for the company. Weiss Ratings raised 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 report on Saturday, August 8th. Finally, Morgan Stanley lowered their price objective on shares of Schrodinger from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 14th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $20.50.

Schrodinger Price Performance

The stock’s 50-day moving average is $17.29 and its 200 day moving average is $14.39. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of -27.99 and a beta of 1.69.

Schrodinger (NASDAQ:SDGR) last released its earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.49. The company 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 firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.65) EPS. Analysts anticipate that Schrodinger, Inc. will post -1.89 EPS for the current year.

Institutional Investors Weigh In On Schrodinger

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its position in shares of Schrodinger by 722.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,374 shares of the company’s stock worth $25,000 after purchasing an additional 1,207 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Schrodinger in the 4th quarter valued at about $26,000. Hantz Financial Services Inc. lifted its stake in shares of Schrodinger by 5,025.8% in the fourth quarter. Hantz Financial Services Inc. now owns 1,589 shares of the company’s stock valued at $28,000 after purchasing an additional 1,558 shares during the period. State of Wyoming acquired a new stake in shares of Schrodinger in the second quarter valued at about $39,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Schrodinger during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

About Schrodinger

Schrödinger, Inc is a life sciences and materials discovery company that specializes in the application of physics-based computational platforms to accelerate drug discovery and advanced materials design. Founded in 1990 by Professor Richard A. Friesner, Schrödinger has developed a suite of proprietary software tools—such as Maestro for molecular modeling, Glide for molecular docking and Jaguar for quantum chemistry calculations—that enable scientists to predict molecular behavior with high accuracy.