Schrödinger (NASDAQ:SDGR) Shares Gap Up – What’s Next?

Schrödinger, Inc. (NASDAQ:SDGR)’s stock price gapped up before the market opened 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 changing hands.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SDGR. BMO Capital Markets lifted their price target on Schrödinger from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. KeyCorp lifted their price target on shares of Schrödinger from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Three investment 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.11.

Schrödinger Price Performance

The company’s 50-day simple moving average is $22.10 and its two-hundred day simple moving average is $20.44. The firm has a market capitalization of $1.75 billion, a P/E ratio of -10.26 and a beta of 1.61.

Hedge Funds Weigh In On Schrödinger

Institutional investors have recently bought and sold shares of the stock. Point72 Hong Kong Ltd bought a new position in shares of Schrödinger in the fourth quarter worth about $27,000. KBC Group NV increased its holdings in Schrödinger by 45.4% in the 3rd quarter. KBC Group NV now owns 2,508 shares of the company’s stock worth $47,000 after acquiring an additional 783 shares in the last quarter. Paradigm Asset Management Co. LLC bought a new stake in Schrödinger during the 4th quarter worth approximately $50,000. Quarry LP lifted its holdings in Schrödinger by 1,150.0% during the third quarter. Quarry LP now owns 2,825 shares of the company’s stock valued at $52,000 after purchasing an additional 2,599 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Schrödinger by 87.5% in the fourth quarter. GAMMA Investing LLC now owns 2,796 shares of the company’s stock worth $54,000 after purchasing an additional 1,305 shares during the period. 79.05% of the stock is owned by institutional investors.

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.