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

Schrödinger, Inc. (NASDAQ:SDGR - Get Free Report) 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 trading hands.

Wall Street Analyst Weigh In

Several analysts have recently commented on SDGR shares. BMO Capital Markets raised their target price on Schrödinger from $25.00 to $28.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. KeyCorp lifted their price target 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $32.11.

Schrödinger Stock Performance

The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -9.68 and a beta of 1.61. The business has a 50 day simple moving average of $22.19 and a 200-day simple moving average of $20.49.

Hedge Funds Weigh In On Schrödinger

Several hedge funds have recently modified their holdings of SDGR. Point72 Hong Kong Ltd bought a new position in shares of Schrödinger during the 4th quarter worth approximately $27,000. KBC Group NV lifted its position in shares of Schrödinger by 45.4% during the 3rd quarter. KBC Group NV now owns 2,508 shares of the company's stock worth $47,000 after buying an additional 783 shares in the last quarter. Paradigm Asset Management Co. LLC bought a new position in shares of Schrödinger during the 4th quarter worth approximately $50,000. Quarry LP lifted its position in shares of Schrödinger by 1,150.0% during the 3rd quarter. Quarry LP now owns 2,825 shares of the company's stock worth $52,000 after buying an additional 2,599 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of 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.