Schrödinger (NASDAQ:SDGR) Stock Price Down 4.3%

Schrödinger, Inc. (NASDAQ:SDGR) shares fell 4.3% on Wednesday . The stock traded as low as $18.87 and last traded at $19.06. 97,955 shares traded hands during trading, a decline of 88% from the average session volume of 798,410 shares. The stock had previously closed at $19.91.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Citigroup decreased their target price on Schrödinger from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. KeyCorp cut their target price on shares of Schrödinger from $30.00 to $25.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Craig Hallum decreased their price target on shares of Schrödinger from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Leerink Partnrs raised shares of Schrödinger to a “strong-buy” rating in a research report on Tuesday, July 2nd. Finally, SVB Leerink initiated coverage on Schrödinger in a research report on Tuesday, July 2nd. They issued an “outperform” rating and a $29.00 target price for the company. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Schrödinger currently has a consensus rating of “Moderate Buy” and an average price target of $35.78.

Schrödinger Stock Performance

The company has a market cap of $1.38 billion, a price-to-earnings ratio of -10.14 and a beta of 1.51. The stock’s fifty day moving average is $20.82 and its two-hundred day moving average is $24.01.

Institutional Trading of Schrödinger

Several institutional investors and hedge funds have recently modified their holdings of SDGR. Nisa Investment Advisors LLC boosted its position in shares of Schrödinger by 145.3% during the second quarter. Nisa Investment Advisors LLC now owns 1,413 shares of the company’s stock valued at $27,000 after buying an additional 837 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Schrödinger by 3,480.0% in the 4th quarter. International Assets Investment Management LLC now owns 1,790 shares of the company’s stock worth $64,000 after acquiring an additional 1,740 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Schrödinger in the 4th quarter worth $67,000. PNC Financial Services Group Inc. raised its holdings in shares of Schrödinger by 186.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,127 shares of the company’s stock valued at $76,000 after purchasing an additional 1,385 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Schrödinger during the second quarter valued at about $66,000. 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.