Schrödinger (NASDAQ:SDGR) Sees Large Volume Increase – Still a Buy?

Schrödinger, Inc. (NASDAQ:SDGR) shares saw strong trading volume on Wednesday . 715,436 shares changed hands during trading, an increase of 28% from the previous session’s volume of 560,533 shares.The stock last traded at $24.96 and had previously closed at $21.33.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets increased their price target on shares of Schrödinger from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Schrödinger currently has an average rating of “Moderate Buy” and a consensus target price of $32.90.

Schrödinger Trading Up 16.0 %

The stock’s 50 day moving average is $20.46 and its two-hundred day moving average is $19.99. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of -10.57 and a beta of 1.59.

Schrödinger (NASDAQ:SDGR) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.12). The firm had revenue of $35.30 million for the quarter, compared to analyst estimates of $41.25 million. Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. The firm’s quarterly revenue was down 17.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.86) earnings per share. On average, research analysts anticipate that Schrödinger, Inc. will post -2.29 earnings per share for the current year.

Institutional Trading of Schrödinger

Institutional investors have recently made changes to their positions in the business. KBC Group NV increased its holdings in Schrödinger by 45.4% during the third quarter. KBC Group NV now owns 2,508 shares of the company’s stock worth $47,000 after buying an additional 783 shares during the last quarter. GAMMA Investing LLC raised its holdings in Schrödinger by 87.5% in the 4th quarter. GAMMA Investing LLC now owns 2,796 shares of the company’s stock valued at $54,000 after acquiring an additional 1,305 shares during the period. Quarry LP lifted its position in Schrödinger by 1,150.0% during the third quarter. Quarry LP now owns 2,825 shares of the company’s stock worth $52,000 after acquiring an additional 2,599 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Schrödinger during the third quarter worth approximately $102,000. Finally, Point72 DIFC Ltd acquired a new position in shares of Schrödinger in the third quarter valued at approximately $151,000. Institutional investors 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.