Certara (NASDAQ:CERT) Shares Down 3.4% - Here's What Happened

Certara, Inc. (NASDAQ:CERT - Get Free Report)'s stock price dropped 3.4% on Tuesday . The company traded as low as $10.60 and last traded at $10.60. Approximately 19,359 shares were traded during trading, a decline of 97% from the average daily volume of 769,666 shares. The stock had previously closed at $10.97.

Analyst Upgrades and Downgrades

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

Certara Stock Performance

The firm has a market capitalization of $1.73 billion, a P/E ratio of -53.70, a P/E/G ratio of 5.86 and a beta of 1.52. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.86 and a quick ratio of 2.86. The firm has a 50-day moving average price of $10.85 and a two-hundred day moving average price of $11.97.

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

Hedge Funds Weigh In On Certara

Several institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its position in Certara by 4.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,871 shares of the company's stock valued at $317,000 after acquiring an additional 975 shares in the last quarter. Nicolet Advisory Services LLC grew its stake in Certara by 6.6% in the third quarter. Nicolet Advisory Services LLC now owns 24,831 shares of the company's stock valued at $273,000 after purchasing an additional 1,531 shares during the last quarter. KBC Group NV raised its holdings in Certara by 48.2% in the third quarter. KBC Group NV now owns 4,873 shares of the company's stock worth $57,000 after purchasing an additional 1,584 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Certara by 112.3% in the 3rd quarter. Blue Trust Inc. now owns 3,925 shares of the company's stock valued at $46,000 after buying an additional 2,076 shares in the last quarter. Finally, Everence Capital Management Inc. grew its position in shares of Certara by 21.0% in the 3rd quarter. Everence Capital Management Inc. now owns 14,910 shares of the company's stock worth $175,000 after buying an additional 2,590 shares during the last quarter. 73.96% of the stock is owned by hedge funds and other institutional investors.

About Certara

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.