Certara (NASDAQ:CERT) Shares Down 6.6% – Here’s What Happened

Shares of Certara, Inc. (NASDAQ:CERT) were down 6.6% during mid-day trading on Tuesday. The company traded as low as $9.44 and last traded at $9.4030. 1,421,391 shares were traded during trading, a decline of 59% from the average daily volume of 3,494,374 shares. The stock had previously closed at $10.07.

Analysts Set New Price Targets

Several research firms have weighed in on CERT. Weiss Ratings raised Certara from a “sell (e+)” rating to a “sell (d)” rating in a report on Wednesday, August 5th. UBS Group reiterated a “neutral” rating and set a $10.00 price objective on shares of Certara in a research report on Wednesday, September 30th. Finally, Barclays raised their target price on shares of Certara from $6.50 to $7.50 and gave the stock an “equal weight” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $8.45.

Certara Stock Down 7.8%

The firm’s 50-day moving average price is $8.32 and its 200-day moving average price is $6.78. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.55 and a quick ratio of 2.55. The company has a market cap of $1.42 billion, a price-to-earnings ratio of -20.66 and a beta of 1.42.

Certara (NASDAQ:CERT) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01). Certara had a negative net margin of 16.75% and a positive return on equity of 3.86%. The company had revenue of $93.27 million during the quarter, compared to analyst estimates of $98.09 million. During the same quarter in the prior year, the company posted $0.07 earnings per share. The firm’s revenue for the quarter was down 10.8% on a year-over-year basis. Sell-side analysts forecast that Certara, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Certara

A number of large investors have recently added to or reduced their stakes in CERT. Integrated Wealth Concepts LLC acquired a new position in Certara in the 2nd quarter worth $39,000. NorthRock Partners LLC acquired a new position in shares of Certara in the 2nd quarter valued at approximately $68,000. State of Wyoming purchased a new position in shares of Certara during the 2nd quarter valued at approximately $72,000. Perigon Wealth Management LLC acquired a new stake in Certara in the second quarter valued at $80,000. Finally, Quantbot Technologies LP bought a new position in Certara during the 2nd quarter valued at $82,000. 73.96% of the stock is owned by institutional investors and hedge funds.

About Certara

Certara, Inc (NASDAQ:CERT) provides software and technology-enabled services for the biopharmaceutical industry. The company helps drug developers use regulatory science, data analysis, and modeling and simulation to support decisions throughout the research, development, and commercialization lifecycle.

Its offerings include software for pharmacokinetic and pharmacodynamic modeling, clinical trial design, patient and disease modeling, regulatory submissions, and real-world data analysis.