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

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. KeyCorp raised their target price on shares of Schrödinger from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. BMO Capital Markets lifted 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. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.11.

Schrödinger Stock Down 5.7 %

The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -9.68 and a beta of 1.61. The stock’s 50 day moving average is $22.19 and its 200 day moving average is $20.49.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SDGR. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Schrödinger by 60.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,510,518 shares of the company’s stock valued at $67,718,000 after acquiring an additional 1,319,464 shares during the period. Nikko Asset Management Americas Inc. increased its stake in shares of Schrödinger by 108.7% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 2,464,911 shares of the company’s stock valued at $47,499,000 after acquiring an additional 1,283,949 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Schrödinger by 58.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,945,182 shares of the company’s stock valued at $36,083,000 after acquiring an additional 717,059 shares during the period. Rubric Capital Management LP increased its stake in shares of Schrödinger by 17.7% during the third quarter. Rubric Capital Management LP now owns 3,685,503 shares of the company’s stock valued at $68,366,000 after acquiring an additional 555,503 shares during the period. Finally, Stephens Investment Management Group LLC increased its stake in shares of Schrödinger by 39.6% during the third quarter. Stephens Investment Management Group LLC now owns 1,539,870 shares of the company’s stock valued at $28,565,000 after acquiring an additional 436,789 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.

About Schrödinger

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.