Schrödinger (NASDAQ:SDGR) Shares Gap Up – Still a Buy?

Schrödinger, Inc. (NASDAQ:SDGR) shares gapped up prior to trading on Tuesday . The stock had previously closed at $24.85, but opened at $26.11. Schrödinger shares last traded at $28.18, with a volume of 616,859 shares traded.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SDGR. BMO Capital Markets boosted their price target on shares of Schrödinger from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. KeyCorp boosted their target price on Schrödinger from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.11.

Schrödinger Trading Up 4.7 %

The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -11.12 and a beta of 1.61. The company has a 50 day simple moving average of $22.01 and a 200-day simple moving average of $20.40.

Institutional Investors Weigh In On Schrödinger

Institutional investors have recently bought and sold shares of the company. Point72 Hong Kong Ltd bought a new position in shares of Schrödinger during the 4th quarter worth approximately $27,000. KBC Group NV boosted 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 purchasing an additional 783 shares during the last quarter. Paradigm Asset Management Co. LLC bought a new position in Schrödinger in the fourth quarter valued at $50,000. Quarry LP increased its stake in Schrödinger by 1,150.0% in the 3rd quarter. Quarry LP now owns 2,825 shares of the company’s stock valued at $52,000 after buying an additional 2,599 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Schrödinger by 87.5% during the 4th quarter. GAMMA Investing LLC now owns 2,796 shares of the company’s stock worth $54,000 after buying an additional 1,305 shares in the last quarter. 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.