Schrödinger (NASDAQ:SDGR) Hits New 12-Month Low at $18.08

Schrödinger, Inc. (NASDAQ:SDGR) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $18.08 and last traded at $18.20, with a volume of 418851 shares. The stock had previously closed at $19.19.

Analyst Upgrades and Downgrades

SDGR has been the topic of a number of recent research reports. Craig Hallum reduced their price target on shares of Schrödinger from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Leerink Partnrs raised Schrödinger to a “strong-buy” rating in a research note on Tuesday, July 2nd. Citigroup lowered 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. SVB Leerink began coverage on Schrödinger in a research note on Tuesday, July 2nd. They set an “outperform” rating and a $29.00 price objective for the company. Finally, KeyCorp lowered their price target on shares of Schrödinger from $30.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.78.

Schrödinger Trading Down 5.9 %

The stock’s fifty day moving average price is $21.07 and its 200 day moving average price is $24.30. The stock has a market cap of $1.31 billion, a P/E ratio of -10.21 and a beta of 1.51.

Institutional Investors Weigh In On Schrödinger

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC boosted its position in shares of Schrödinger by 145.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,413 shares of the company’s stock worth $27,000 after purchasing an additional 837 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Schrödinger by 49.5% in the second quarter. GAMMA Investing LLC now owns 2,124 shares of the company’s stock worth $41,000 after acquiring an additional 703 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Schrödinger by 3,480.0% in the fourth 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 during the last quarter. nVerses Capital LLC bought a new position in shares of Schrödinger during the second quarter valued at $66,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Schrödinger by 186.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,127 shares of the company’s stock valued at $76,000 after acquiring an additional 1,385 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Schrödinger Company Profile

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.