Certara (NASDAQ:CERT) Stock Price Down 4.6% - Here's What Happened

Shares of Certara, Inc. (NASDAQ:CERT - Get Free Report) were down 4.6% on Thursday . The company traded as low as $10.39 and last traded at $10.42. Approximately 216,356 shares traded hands during trading, a decline of 74% from the average daily volume of 838,846 shares. The stock had previously closed at $10.92.

Wall Street Analyst Weigh In

CERT has been the subject of a number of recent research reports. Barclays dropped their target price on Certara from $14.00 to $12.00 and set an "equal weight" rating for the company in a report on Thursday, November 7th. UBS Group raised Certara from a "neutral" rating to a "buy" rating and set a $16.00 price objective on the stock in a report on Friday, September 27th. Finally, Robert W. Baird reduced their target price on shares of Certara from $18.00 to $13.00 and set a "neutral" rating on the stock in a research note on Tuesday, November 5th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $15.92.

Certara Stock Down 3.4 %

The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of -52.75, a P/E/G ratio of 5.86 and a beta of 1.53. The stock has a fifty day moving average of $10.83 and a two-hundred day moving average of $12.51. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.86 and a quick ratio of 2.86.

Certara (NASDAQ:CERT - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. The business had revenue of $94.80 million for the quarter, compared to the consensus estimate of $95.51 million. Certara had a positive return on equity of 3.43% and a negative net margin of 8.34%. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.06 EPS. Sell-side analysts anticipate that Certara, Inc. will post 0.28 earnings per share for the current year.

Insider Buying and Selling at Certara

In other news, insider Patrick F. Smith sold 5,409 shares of the business's stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $11.03, for a total value of $59,661.27. Following the completion of the sale, the insider now directly owns 50,091 shares in the company, valued at approximately $552,503.73. The trade was a 9.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.39% of the company's stock.

Hedge Funds Weigh In On Certara

Hedge funds have recently modified their holdings of the company. 272 Capital LP purchased a new position in shares of Certara during the third quarter valued at approximately $586,000. Barclays PLC raised its stake in Certara by 198.3% during the 3rd quarter. Barclays PLC now owns 70,525 shares of the company's stock valued at $825,000 after buying an additional 46,880 shares during the last quarter. Jane Street Group LLC lifted its holdings in Certara by 2.6% in the third quarter. Jane Street Group LLC now owns 147,393 shares of the company's stock valued at $1,726,000 after acquiring an additional 3,732 shares during the period. State Street Corp lifted its stake in shares of Certara by 3.4% in the 3rd quarter. State Street Corp now owns 3,679,699 shares of the company's stock worth $43,089,000 after purchasing an additional 122,411 shares during the period. Finally, Petrus Trust Company LTA purchased a new position in shares of Certara during the 3rd quarter worth $994,000. Hedge funds and other institutional investors own 73.96% of the company's stock.

Certara Company Profile

Certara, Inc, together with its subsidiaries, provides software products and technology-enabled services to customers for biosimulation in drug discovery, preclinical and clinical research, regulatory submissions, and market access in the United States and internationally. It offers solutions for model-informed drug development, as well as biosimulation solution used to predict both pharmacokinetics and pharmacodynamics.