Schrodinger (NASDAQ:SDGR) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Schrodinger, Inc. (NASDAQ:SDGR) saw unusually-strong trading volume on Thursday . 2,657,428 shares changed hands during trading, an increase of 100% from the previous session’s volume of 1,331,540 shares.The stock last traded at $28.2010 and had previously closed at $23.93.

Wall Street Analyst Weigh In

SDGR has been the subject of a number of analyst reports. UBS Group assumed coverage on Schrodinger in a research report on Friday, August 14th. They issued a “neutral” rating and a $19.00 price target for the company. Weiss Ratings upgraded shares of Schrodinger from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 27th. Finally, Wall Street Zen raised shares of Schrodinger from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Schrodinger currently has a consensus rating of “Hold” and a consensus price target of $20.50.

Schrodinger Stock Down 4.0%

The company’s 50 day simple moving average is $18.51 and its 200-day simple moving average is $15.18. The firm has a market cap of $2.14 billion, a P/E ratio of -39.22 and a beta of 1.69.

Schrodinger (NASDAQ:SDGR) last released its earnings results on Wednesday, August 5th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.49. Schrodinger had a negative return on equity of 16.37% and a negative net margin of 20.98%.The firm had revenue of $58.89 million for the quarter, compared to analysts’ expectations of $47.19 million. During the same quarter in the prior year, the firm posted ($0.65) earnings per share. The company’s quarterly revenue was up 7.5% on a year-over-year basis. Equities research analysts predict that Schrodinger, Inc. will post -1.5 EPS for the current year.

Institutional Trading of Schrodinger

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Schrodinger in the second quarter worth $170,978,000. Rubric Capital Management LP boosted its stake in shares of Schrodinger by 43.8% during the first quarter. Rubric Capital Management LP now owns 6,000,000 shares of the company’s stock valued at $68,160,000 after purchasing an additional 1,828,502 shares during the period. Amova Asset Management Americas Inc. boosted its stake in shares of Schrodinger by 13.2% during the first quarter. Amova Asset Management Americas Inc. now owns 3,190,837 shares of the company’s stock valued at $36,248,000 after purchasing an additional 371,167 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Schrodinger in the second quarter worth about $4,986,000. Finally, Tejara Capital Ltd bought a new position in shares of Schrodinger in the second quarter worth about $4,553,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Schrodinger Company Profile

Schrödinger, Inc develops computational software designed to accelerate drug discovery and materials science research. Its platform uses physics-based modeling, machine learning and related computational methods to help scientists analyze molecular structures, predict interactions and identify potential compounds for further development.

The company’s software products support a range of research activities, including molecular modeling, virtual screening, structure-based drug design, free-energy calculations and collaborative data management.