Schrodinger (NASDAQ:SDGR) Sees Strong Trading Volume – Here’s Why

Schrodinger, Inc. (NASDAQ:SDGR) shares saw strong trading volume on Thursday . Approximately 2,657,428 shares traded hands during trading, an increase of 100% from the previous session’s volume of 1,331,540 shares.The stock last traded at $28.2010 and had previously closed at $23.93.

Wall Street Analyst Weigh In

SDGR has been the topic of several recent analyst reports. Wall Street Zen raised Schrodinger from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. UBS Group began coverage on 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 research note on Thursday, August 27th. Three research 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. According to MarketBeat.com, Schrodinger currently has a consensus rating of “Hold” and an average price target of $20.50.

Schrodinger Stock Up 18.1%

The firm has a market capitalization of $2.09 billion, a P/E ratio of -38.35 and a beta of 1.69. The firm has a 50 day moving average of $17.99 and a 200-day moving average of $14.96.

Schrodinger (NASDAQ:SDGR) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.49. The firm had revenue of $58.89 million during 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 company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.65) EPS. As a group, research analysts expect that Schrodinger, Inc. will post -1.5 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC bought a new position in Schrodinger in the second quarter valued at about $102,000. Squarepoint Ops LLC increased its position in Schrodinger by 290.4% during the 2nd quarter. Squarepoint Ops LLC now owns 209,123 shares of the company’s stock worth $3,398,000 after purchasing an additional 155,556 shares in the last quarter. Allworth Financial LP lifted its stake in Schrodinger by 252.3% in the 2nd quarter. Allworth Financial LP now owns 5,270 shares of the company’s stock valued at $86,000 after purchasing an additional 3,774 shares during the last quarter. Corient Private Wealth LP bought a new position in Schrodinger in the 2nd quarter valued at approximately $303,000. Finally, Beacon Pointe Advisors LLC acquired a new stake in Schrodinger in the second quarter valued at approximately $839,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

Schrodinger Company Profile

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.