Simulations Plus (NASDAQ:SLP) Sees Strong Trading Volume - Here's What Happened

Simulations Plus, Inc. (NASDAQ:SLP - Get Free Report) saw strong trading volume on Thursday . 176,846 shares were traded during mid-day trading, an increase of 40% from the previous session's volume of 126,737 shares.The stock last traded at $32.60 and had previously closed at $33.98.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. William Blair restated an "outperform" rating on shares of Simulations Plus in a research report on Thursday. Craig Hallum restated a "buy" rating and issued a $56.00 price objective on shares of Simulations Plus in a research report on Wednesday, July 3rd. KeyCorp assumed coverage on Simulations Plus in a research report on Monday, July 29th. They issued an "overweight" rating and a $47.00 price objective for the company. BTIG Research cut their price objective on Simulations Plus from $60.00 to $50.00 and set a "buy" rating for the company in a research report on Thursday. Finally, JMP Securities started coverage on Simulations Plus in a research report on Tuesday, July 16th. They set a "market perform" rating for the company. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.50.

Simulations Plus Stock Down 8.9 %

The stock has a market capitalization of $619.51 million, a PE ratio of 64.50 and a beta of 0.69. The company has a 50-day moving average of $33.20 and a 200 day moving average of $40.76.

Insider Buying and Selling

In other Simulations Plus news, Director Walter S. Woltosz sold 20,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $35.18, for a total value of $703,600.00. Following the completion of the sale, the director now directly owns 3,501,592 shares in the company, valued at $123,186,006.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 60,750 shares of company stock worth $2,145,055. 20.90% of the stock is owned by corporate insiders.

Institutional Trading of Simulations Plus

Several large investors have recently added to or reduced their stakes in SLP. nVerses Capital LLC lifted its stake in shares of Simulations Plus by 1,100.0% in the 3rd quarter. nVerses Capital LLC now owns 1,200 shares of the technology company's stock valued at $38,000 after purchasing an additional 1,100 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Simulations Plus in the 1st quarter valued at $57,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Simulations Plus in the 1st quarter valued at $70,000. Connecticut Wealth Management LLC acquired a new position in shares of Simulations Plus in the 1st quarter valued at $204,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Simulations Plus in the 2nd quarter valued at $206,000. 78.08% of the stock is currently owned by hedge funds and other institutional investors.

About Simulations Plus

Simulations Plus, Inc develops drug discovery and development software for modeling and simulation, and prediction of molecular properties utilizing artificial intelligence and machine learning based technology worldwide. The company operates through two segments, Software and Services. It offers GastroPlus, which simulates the absorption and drug interaction of compounds administered to humans and animals; and DDDPlus and MembranePlus simulation products.