Schrodinger (NASDAQ:SDGR) Sets New 1-Year High – Here’s Why

Schrodinger, Inc. (NASDAQ:SDGR) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $23.40 and last traded at $22.79, with a volume of 1314099 shares changing hands. The stock had previously closed at $20.75.

Analyst Ratings Changes

Several research firms have weighed in on SDGR. Weiss Ratings upgraded shares of Schrodinger from a “sell (e+)” rating to a “sell (d-)” rating in a research 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, UBS Group assumed coverage on Schrodinger in a report on Friday, August 14th. They set a “neutral” rating and a $19.00 price target for the company. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.50.

Schrodinger Stock Up 2.9%

The stock has a market capitalization of $1.77 billion, a PE ratio of -32.34 and a beta of 1.69. The stock’s 50 day moving average price is $17.99 and its 200-day moving average price is $14.96.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rubric Capital Management LP lifted its stake 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 purchasing an additional 1,828,502 shares in the last quarter. Quantinno Capital Management LP purchased a new position in shares of Schrodinger during the first quarter valued at about $1,978,000. Tejara Capital Ltd purchased a new position in shares of Schrodinger during the second quarter valued at about $4,553,000. BlackRock Inc. bought a new stake in shares of Schrodinger in the second quarter worth about $170,978,000. Finally, Beacon Pointe Advisors LLC purchased a new stake in shares of Schrodinger in the second quarter worth about $839,000. 79.05% of the stock is currently owned by institutional investors.

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.