Schrodinger, Inc. (NASDAQ:SDGR - Get Free Report)'s stock price shot up 8.6% during mid-day trading on Monday . The company traded as high as $22.69 and last traded at $23.30. Approximately 161,268 shares changed hands during trading, a decline of 83% from the average session volume of 926,143 shares. The stock had previously closed at $21.45.
Analysts Set New Price Targets
SDGR has been the subject of several recent analyst reports. KeyCorp cut their price target on shares of Schrodinger from $32.00 to $30.00 and set an "overweight" rating for the company in a report on Monday, July 14th. Morgan Stanley assumed coverage on shares of Schrodinger in a research report on Thursday, July 3rd. They set an "equal weight" rating and a $28.00 price target for the company.
Get Our Latest Research Report on Schrodinger
Schrodinger Stock Down 2.3%
The business has a fifty day simple moving average of $21.86 and a two-hundred day simple moving average of $22.48.
Schrodinger (NASDAQ:SDGR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.82) earnings per share for the quarter, missing analysts' consensus estimates of ($0.81) by ($0.01). Schrodinger had a negative return on equity of 44.74% and a negative net margin of 83.39%. The business had revenue of $59.55 million for the quarter, compared to analyst estimates of $54.60 million. During the same quarter in the previous year, the firm posted ($0.86) earnings per share. The business's revenue was up 62.7% compared to the same quarter last year. As a group, equities research analysts forecast that Schrodinger, Inc. will post -2.37 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Schrodinger
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SDGR. Slow Capital Inc. purchased a new position in shares of Schrodinger during the 2nd quarter worth $2,085,000. State of Alaska Department of Revenue raised its stake in Schrodinger by 8.2% during the second quarter. State of Alaska Department of Revenue now owns 33,208 shares of the company's stock worth $668,000 after purchasing an additional 2,503 shares during the period. Perigon Wealth Management LLC acquired a new position in Schrodinger in the 2nd quarter valued at about $294,000. Palumbo Wealth Management LLC grew its stake in shares of Schrodinger by 51.6% in the 2nd quarter. Palumbo Wealth Management LLC now owns 26,518 shares of the company's stock valued at $534,000 after buying an additional 9,025 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in shares of Schrodinger by 347.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,284 shares of the company's stock worth $26,000 after buying an additional 997 shares during the last quarter. Institutional investors and hedge funds own 79.05% of the company's stock.
About Schrodinger
(
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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.
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