Certara (NASDAQ:CERT) Shares Down 4.2% - Here's What Happened

Certara, Inc. (NASDAQ:CERT - Get Free Report) shares dropped 4.2% on Tuesday . The company traded as low as $13.80 and last traded at $13.80. Approximately 573,449 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 1,155,880 shares. The stock had previously closed at $14.40.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Stephens restated an "overweight" rating and set a $17.00 price target on shares of Certara in a report on Thursday, February 27th. Robert W. Baird lifted their price objective on Certara from $9.00 to $13.00 and gave the company a "neutral" rating in a research report on Friday, April 11th. TD Cowen started coverage on Certara in a research report on Thursday, February 27th. They issued a "buy" rating and a $16.00 target price on the stock. William Blair reiterated a "market perform" rating on shares of Certara in a report on Thursday, February 27th. Finally, Barclays dropped their price objective on Certara from $13.00 to $11.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $15.17.

Certara Stock Up 4.6 %

The firm has a fifty day moving average price of $11.62 and a 200 day moving average price of $11.46. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of -70.75, a P/E/G ratio of 9.29 and a beta of 1.64. The company has a current ratio of 2.86, a quick ratio of 2.86 and a debt-to-equity ratio of 0.28.

Institutional Trading of Certara

A number of hedge funds and other institutional investors have recently made changes to their positions in CERT. Versant Capital Management Inc increased its position in Certara by 218.8% in the 1st quarter. Versant Capital Management Inc now owns 2,719 shares of the company's stock valued at $27,000 after acquiring an additional 1,866 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of Certara by 839.1% in the 4th quarter. Venturi Wealth Management LLC now owns 2,808 shares of the company's stock valued at $30,000 after acquiring an additional 2,509 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Certara by 48.4% in the 4th quarter. Wells Fargo & Company MN now owns 3,208 shares of the company's stock valued at $34,000 after acquiring an additional 1,047 shares during the period. Johnson Financial Group Inc. bought a new stake in Certara in the fourth quarter valued at approximately $47,000. Finally, Blue Trust Inc. raised its holdings in Certara by 20.9% in the fourth quarter. Blue Trust Inc. now owns 4,747 shares of the company's stock worth $56,000 after purchasing an additional 822 shares during the period. 73.96% of the stock is currently owned by institutional investors and hedge funds.

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.