Schrödinger (NASDAQ:SDGR) Stock Price Down 8.3% – What’s Next?

Schrödinger, Inc. (NASDAQ:SDGR)’s share price fell 8.3% on Thursday . The stock traded as low as $23.53 and last traded at $23.85. 422,116 shares changed hands during trading, a decline of 56% from the average session volume of 953,197 shares. The stock had previously closed at $26.01.

Analyst Ratings Changes

Several brokerages have weighed in on SDGR. KeyCorp lifted their target price on Schrödinger from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. BMO Capital Markets lifted their target price on Schrödinger from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Three research 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.11.

Schrödinger Trading Down 7.5 %

The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of -10.29 and a beta of 1.61. The stock has a fifty day moving average of $22.10 and a 200-day moving average of $20.44.

Hedge Funds Weigh In On Schrödinger

A number of hedge funds have recently modified their holdings of SDGR. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Schrödinger by 60.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,510,518 shares of the company’s stock worth $67,718,000 after acquiring an additional 1,319,464 shares during the last quarter. Nikko Asset Management Americas Inc. grew its holdings in shares of Schrödinger by 108.7% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 2,464,911 shares of the company’s stock worth $47,499,000 after acquiring an additional 1,283,949 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Schrödinger by 58.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,945,182 shares of the company’s stock worth $36,083,000 after acquiring an additional 717,059 shares during the last quarter. Rubric Capital Management LP grew its holdings in shares of Schrödinger by 17.7% in the 3rd quarter. Rubric Capital Management LP now owns 3,685,503 shares of the company’s stock worth $68,366,000 after acquiring an additional 555,503 shares during the last quarter. Finally, Stephens Investment Management Group LLC grew its holdings in shares of Schrödinger by 39.6% in the 3rd quarter. Stephens Investment Management Group LLC now owns 1,539,870 shares of the company’s stock worth $28,565,000 after acquiring an additional 436,789 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.