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

Schrödinger, Inc. (NASDAQ:SDGR)’s share price hit a new 52-week low on Tuesday . The stock traded as low as $17.99 and last traded at $18.10, with a volume of 70524 shares. The stock had previously closed at $18.55.

Analyst Ratings Changes

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

Schrödinger Trading Down 3.2 %

The firm has a 50-day moving average of $20.27 and a two-hundred day moving average of $22.11. The firm has a market capitalization of $1.31 billion, a P/E ratio of -9.87 and a beta of 1.51.

Schrödinger (NASDAQ:SDGR) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.74) earnings per share for the quarter, beating the consensus estimate of ($0.85) by $0.11. Schrödinger had a negative net margin of 100.42% and a negative return on equity of 38.38%. The firm had revenue of $47.33 million during the quarter, compared to the consensus estimate of $40.19 million. On average, sell-side analysts anticipate that Schrödinger, Inc. will post -2.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Schrödinger

Hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Schrödinger in the fourth quarter valued at approximately $8,530,000. Advisory Services Network LLC bought a new stake in Schrödinger in the 4th quarter valued at about $420,000. Eagle Asset Management Inc. lifted its holdings in Schrödinger by 41.7% during the fourth quarter. Eagle Asset Management Inc. now owns 272,144 shares of the company’s stock valued at $9,743,000 after purchasing an additional 80,076 shares during the last quarter. NEOS Investment Management LLC bought a new position in Schrödinger during the fourth quarter worth about $417,000. Finally, Lighthouse Investment Partners LLC purchased a new stake in shares of Schrödinger during the 4th quarter valued at approximately $982,000. 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.