Schrödinger (NASDAQ:SDGR) Stock Price Down 8.3% – Here’s Why

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

Analyst Ratings Changes

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

Schrödinger Stock Down 5.7 %

The firm has a 50 day moving average price of $22.19 and a two-hundred day moving average price of $20.49. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of -9.68 and a beta of 1.61.

Institutional Trading of Schrödinger

Several large investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. grew its stake in Schrödinger by 5.0% in the third quarter. Harbor Capital Advisors Inc. now owns 13,059 shares of the company’s stock worth $242,000 after purchasing an additional 622 shares in the last quarter. KBC Group NV lifted its holdings in Schrödinger by 45.4% in the third quarter. KBC Group NV now owns 2,508 shares of the company’s stock worth $47,000 after acquiring an additional 783 shares during the last quarter. Redwood Wealth Management Group LLC lifted its holdings in Schrödinger by 8.4% in the fourth quarter. Redwood Wealth Management Group LLC now owns 14,620 shares of the company’s stock worth $283,000 after acquiring an additional 1,132 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Schrödinger by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,643 shares of the company’s stock worth $610,000 after acquiring an additional 1,202 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Schrödinger by 87.5% in the fourth quarter. GAMMA Investing LLC now owns 2,796 shares of the company’s stock worth $54,000 after acquiring an additional 1,305 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Schrödinger Company Profile

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.