Certara, Inc. (NASDAQ:CERT) Sees Large Decline in Short Interest

Certara, Inc. (NASDAQ:CERT) was the recipient of a large decrease in short interest in June. As of June 15th, there was short interest totalling 4,400,000 shares, a decrease of 15.7% from the May 31st total of 5,220,000 shares. Approximately 4.0% of the shares of the company are short sold. Based on an average trading volume of 576,300 shares, the short-interest ratio is currently 7.6 days.

Insider Buying and Selling at Certara

In other Certara news, insider Patrick F. Smith sold 14,427 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $16.85, for a total value of $243,094.95. Following the completion of the transaction, the insider now owns 50,091 shares of the company’s stock, valued at approximately $844,033.35. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.39% of the company’s stock.

Institutional Investors Weigh In On Certara

Several institutional investors have recently made changes to their positions in CERT. HighTower Advisors LLC boosted its stake in shares of Certara by 24.8% in the third quarter. HighTower Advisors LLC now owns 27,500 shares of the company’s stock valued at $390,000 after buying an additional 5,467 shares during the period. Envestnet Asset Management Inc. increased its holdings in Certara by 45.3% in the third quarter. Envestnet Asset Management Inc. now owns 335,440 shares of the company’s stock valued at $4,877,000 after purchasing an additional 104,616 shares during the period. Natixis Advisors L.P. increased its holdings in Certara by 13.4% in the third quarter. Natixis Advisors L.P. now owns 15,136 shares of the company’s stock valued at $220,000 after purchasing an additional 1,791 shares during the period. Trexquant Investment LP increased its holdings in Certara by 154.2% in the third quarter. Trexquant Investment LP now owns 46,216 shares of the company’s stock valued at $672,000 after purchasing an additional 28,032 shares during the period. Finally, Gotham Asset Management LLC increased its holdings in Certara by 26.2% in the third quarter. Gotham Asset Management LLC now owns 129,478 shares of the company’s stock valued at $1,883,000 after purchasing an additional 26,859 shares during the period. 73.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Barclays lowered their price objective on Certara from $18.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday. KeyCorp raised Certara from a “sector weight” rating to an “overweight” rating and set a $23.00 price objective on the stock in a research note on Wednesday, April 10th. Finally, JMP Securities began coverage on Certara in a report on Thursday, April 4th. They issued a “market perform” rating for the company. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $19.81.

Certara Stock Performance

CERT stock traded down $0.21 during mid-day trading on Monday, hitting $13.64. 665,945 shares of the company were exchanged, compared to its average volume of 567,172. The business has a 50 day simple moving average of $15.98 and a 200-day simple moving average of $16.86. The company has a current ratio of 3.26, a quick ratio of 3.26 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $2.19 billion, a PE ratio of -34.97, a price-to-earnings-growth ratio of 4.65 and a beta of 1.53. Certara has a 1-year low of $11.81 and a 1-year high of $19.87.

Certara (NASDAQ:CERT) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). The company had revenue of $96.65 million for the quarter, compared to analyst estimates of $94.48 million. Certara had a positive return on equity of 4.08% and a negative net margin of 17.02%. On average, equities analysts forecast that Certara will post 0.29 earnings per share for the current year.

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.