Certara (NASDAQ:CERT) Shares Gap Down to $27.16

Certara, Inc. (NASDAQ:CERT)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $27.16, but opened at $26.07. Certara shares last traded at $24.67, with a volume of 4,865 shares traded.

Several brokerages have issued reports on CERT. William Blair restated an “outperform” rating on shares of Certara in a research note on Friday, March 5th. Barclays dropped their price target on Certara from $40.00 to $35.00 and set an “overweight” rating on the stock in a research report on Friday, May 7th. Morgan Stanley decreased their price objective on shares of Certara from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Monday, March 8th. Finally, Zacks Investment Research cut shares of Certara from a “hold” rating to a “sell” rating in a report on Wednesday, May 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $35.40.

The company has a market capitalization of $3.90 billion and a price-to-earnings ratio of -77.09. The company has a debt-to-equity ratio of 0.36, a quick ratio of 5.48 and a current ratio of 5.48. The company has a fifty day moving average of $27.85.

Certara (NASDAQ:CERT) last issued its earnings results on Thursday, May 6th. The company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.01. The company had revenue of $66.72 million during the quarter, compared to analyst estimates of $64.94 million. The firm’s revenue was up 16.1% compared to the same quarter last year. Research analysts expect that Certara, Inc. will post 0.2 earnings per share for the current year.

In related news, major shareholder Avatar Parent L.P. Eqt sold 8,674,151 shares of Certara stock in a transaction dated Monday, March 29th. The shares were sold at an average price of $24.12, for a total value of $209,220,522.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 6.80% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in CERT. Citigroup Inc. acquired a new position in Certara during the 4th quarter worth $72,000. Morgan Stanley raised its stake in shares of Certara by 1,297.8% during the first quarter. Morgan Stanley now owns 6,318 shares of the company’s stock valued at $173,000 after purchasing an additional 5,866 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Certara in the first quarter worth about $197,000. Russell Investments Group Ltd. acquired a new stake in Certara in the first quarter worth about $203,000. Finally, Blair William & Co. IL bought a new position in Certara in the 4th quarter valued at about $217,000. 28.48% of the stock is currently owned by hedge funds and other institutional investors.

About Certara (NASDAQ:CERT)

Certara Inc provides software products and technology-enabled services to customers for biosimulation in drug discovery, preclinincal and clinical research, regulatory submissions, and market access. It offers medicines to patients using biosimulation software and technology to transform drug discovery and development.

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