Schrödinger (NASDAQ:SDGR) Sets New 52-Week Low at $17.99

Schrödinger, Inc. (NASDAQ:SDGR) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $17.99 and last traded at $18.10, with a volume of 70524 shares changing hands. The stock had previously closed at $18.55.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Leerink Partnrs upgraded Schrödinger to a “strong-buy” rating in a report on Tuesday, July 2nd. Morgan Stanley cut their target price on Schrödinger from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 21st. KeyCorp decreased their price target on shares of Schrödinger from $30.00 to $25.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Finally, Leerink Partners began coverage on shares of Schrödinger in a report on Tuesday, July 2nd. They issued an “outperform” rating and a $29.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.44.

Schrödinger Price Performance

The stock has a market cap of $1.30 billion, a PE ratio of -9.48 and a beta of 1.51. The company’s fifty day moving average is $20.09 and its 200-day moving average is $22.02.

Schrödinger (NASDAQ:SDGR) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.74) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.11. Schrödinger had a negative return on equity of 38.38% and a negative net margin of 100.42%. The business had revenue of $47.33 million during the quarter, compared to analyst estimates of $40.19 million. Analysts expect that Schrödinger, Inc. will post -2.19 EPS for the current year.

Hedge Funds Weigh In On Schrödinger

Institutional investors have recently made changes to their positions in the company. Texas Permanent School Fund Corp boosted its position in Schrödinger by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 47,869 shares of the company’s stock worth $1,292,000 after purchasing an additional 626 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in Schrödinger by 2.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 27,800 shares of the company’s stock valued at $538,000 after acquiring an additional 700 shares during the period. GAMMA Investing LLC increased its holdings in Schrödinger by 49.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,124 shares of the company’s stock worth $41,000 after acquiring an additional 703 shares in the last quarter. ProShare Advisors LLC raised its position in Schrödinger by 7.4% during the first quarter. ProShare Advisors LLC now owns 10,987 shares of the company’s stock worth $297,000 after acquiring an additional 753 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its holdings in Schrödinger by 2.7% during the first quarter. Illinois Municipal Retirement Fund now owns 32,043 shares of the company’s stock valued at $865,000 after purchasing an additional 831 shares in the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

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.