Schrodinger (NASDAQ:SDGR) Reaches New 12-Month Low – What’s Next?

Schrodinger, Inc. (NASDAQ:SDGR) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $12.70 and last traded at $12.7410, with a volume of 399173 shares. The stock had previously closed at $13.63.

Analysts Set New Price Targets

SDGR has been the topic of several recent research reports. Bank of America upgraded shares of Schrodinger from a “neutral” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Monday, December 15th. Wall Street Zen raised Schrodinger from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. UBS Group started coverage on Schrodinger in a report on Wednesday, January 7th. They issued a “neutral” rating and a $18.00 price objective for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Schrodinger in a research note on Friday, January 9th. Finally, TD Cowen reiterated a “buy” rating on shares of Schrodinger in a research report on Thursday, January 8th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Schrodinger currently has a consensus rating of “Hold” and an average target price of $24.33.

Schrodinger Price Performance

The stock has a market capitalization of $891.92 million, a P/E ratio of -5.02 and a beta of 1.57. The stock’s fifty day moving average is $16.96 and its two-hundred day moving average is $18.56.

Institutional Trading of Schrodinger

Several institutional investors and hedge funds have recently bought and sold shares of SDGR. Massachusetts Financial Services Co. MA grew its position in Schrodinger by 38.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,072,433 shares of the company’s stock valued at $41,573,000 after purchasing an additional 577,899 shares in the last quarter. Capital Fund Management S.A. acquired a new position in shares of Schrodinger in the second quarter worth $1,486,000. Sumitomo Mitsui Trust Group Inc. boosted its position in Schrodinger by 24.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,554,569 shares of the company’s stock valued at $91,365,000 after purchasing an additional 904,619 shares during the last quarter. Nikko Asset Management Americas Inc. grew its stake in Schrodinger by 7.2% in the second quarter. Nikko Asset Management Americas Inc. now owns 2,591,492 shares of the company’s stock valued at $52,089,000 after purchasing an additional 174,684 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Schrodinger by 17.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 205,319 shares of the company’s stock worth $4,131,000 after purchasing an additional 30,948 shares during the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

About Schrodinger

Schrödinger, Inc is a life sciences and materials discovery company that specializes in the application of physics-based computational platforms to accelerate drug discovery and advanced materials design. Founded in 1990 by Professor Richard A. Friesner, Schrödinger has developed a suite of proprietary software tools—such as Maestro for molecular modeling, Glide for molecular docking and Jaguar for quantum chemistry calculations—that enable scientists to predict molecular behavior with high accuracy.