Schrödinger (NASDAQ:SDGR) Shares Gap Up – Time to Buy?

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.

Wall Street Analyst Weigh In

SDGR has been the subject of several recent analyst reports. BMO Capital Markets increased their price objective on Schrödinger from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. KeyCorp increased their price target on shares of Schrödinger from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.11.

Schrödinger Stock Performance

The stock has a market capitalization of $1.90 billion, a P/E ratio of -11.12 and a beta of 1.61. The company’s fifty day simple moving average is $22.01 and its two-hundred day simple moving average is $20.40.

Institutional Trading of Schrödinger

Several institutional investors have recently added to or reduced their stakes in the company. Avanza Fonder AB acquired a new stake in shares of Schrödinger during the fourth quarter worth $577,000. Stephens Investment Management Group LLC raised its position in shares of Schrödinger by 39.6% in the third quarter. Stephens Investment Management Group LLC now owns 1,539,870 shares of the company’s stock valued at $28,565,000 after buying an additional 436,789 shares in the last quarter. Barclays PLC boosted its stake in shares of Schrödinger by 421.6% in the third quarter. Barclays PLC now owns 107,554 shares of the company’s stock valued at $1,995,000 after buying an additional 86,933 shares during the period. State Street Corp grew its position in Schrödinger by 1.8% during the third quarter. State Street Corp now owns 2,155,620 shares of the company’s stock worth $39,987,000 after buying an additional 38,972 shares in the last quarter. Finally, Quest Partners LLC increased its stake in Schrödinger by 861.0% during the 3rd quarter. Quest Partners LLC now owns 43,773 shares of the company’s stock worth $812,000 after acquiring an additional 39,218 shares during the period. 79.05% of the stock is currently 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.