Long Position on SDGR @ $27.45 on 4/17/2023 (Momentum)

Schrödinger, Inc. (SDGR) 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.

The Drug Discovery segment focuses on building a portfolio of preclinical and clinical programs, internally and through collaborations.

The company serves biopharmaceutical and industrial companies, academic institutions, and government laboratories worldwide. 

On February 28th, SDGR reported a Quarter December 2022 loss of $0.39 per share on revenue of $56.8 million. The consensus estimate was a loss of $0.50 per share on revenue of $47.4 million. Revenue grew 23.1% on a year-over-year basis.

Shares are heading higher along a trendline support and higher share prices are expected.

Entry Point: $27.45

Stop Loss: $25.00

Trading Range: $15.85 - $35.24

Target Price: $30.50

Position closed on 5/2/2023 at price of $30.88 with a 12.50% gain in 14 days.

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