Schrödinger (NASDAQ:SDGR) Reaches New 52-Week Low - Here's Why

Shares of Schrödinger, Inc. (NASDAQ:SDGR - Get Free Report) hit a new 52-week low on Monday . The company traded as low as $17.15 and last traded at $17.18, with a volume of 231298 shares trading hands. The stock had previously closed at $17.51.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. KeyCorp reduced their price objective on Schrödinger from $30.00 to $25.00 and set an "overweight" rating on the stock in a research note on Thursday, July 11th. Leerink Partners initiated coverage on shares of Schrödinger in a research note on Tuesday, July 2nd. They issued an "outperform" rating and a $29.00 price target for the company. Morgan Stanley dropped their price objective on shares of Schrödinger from $43.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 21st. Finally, Leerink Partnrs raised shares of Schrödinger to a "strong-buy" rating in a research report on Tuesday, July 2nd. 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $33.44.

Schrödinger Price Performance

The firm's 50 day simple moving average is $19.89 and its 200-day simple moving average is $21.87. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -9.31 and a beta of 1.50.

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

Institutional Trading of Schrödinger

Large investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its stake in Schrödinger by 145.3% in the 2nd 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 period. GAMMA Investing LLC boosted its holdings in Schrödinger by 49.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,124 shares of the company's stock valued at $41,000 after purchasing an additional 703 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Schrödinger by 186.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,127 shares of the company's stock worth $76,000 after purchasing an additional 1,385 shares during the period. nVerses Capital LLC acquired a new stake in shares of Schrödinger in the 2nd quarter valued at approximately $66,000. Finally, Quest Partners LLC boosted its stake in shares of Schrödinger by 1,005.6% in the second quarter. Quest Partners LLC now owns 4,555 shares of the company's stock valued at $88,000 after buying an additional 4,143 shares in the last quarter. 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.