Short Interest in Certara, Inc. (NASDAQ:CERT) Declines By 18.1%

Certara, Inc. (NASDAQ:CERT) was the target of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 4,330,000 shares, a drop of 18.1% from the August 31st total of 5,290,000 shares. Based on an average daily volume of 1,020,000 shares, the days-to-cover ratio is presently 4.2 days. Currently, 3.9% of the company’s stock are short sold.

Certara Trading Down 0.3 %

Shares of Certara stock traded down $0.04 on Monday, reaching $11.71. 2,007,275 shares of the company were exchanged, compared to its average volume of 733,681. Certara has a fifty-two week low of $10.35 and a fifty-two week high of $19.87. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of -30.03, a price-to-earnings-growth ratio of 5.17 and a beta of 1.49. The stock has a fifty day moving average price of $12.73 and a 200-day moving average price of $15.06.

Certara (NASDAQ:CERT) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). The business had revenue of $93.31 million for the quarter, compared to the consensus estimate of $96.01 million. Certara had a positive return on equity of 3.03% and a negative net margin of 21.64%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $0.10 earnings per share. On average, analysts expect that Certara will post 0.27 EPS for the current year.

Analysts Set New Price Targets

CERT has been the subject of a number of recent analyst reports. UBS Group raised shares of Certara from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a report on Friday. KeyCorp cut their price objective on shares of Certara from $23.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Barclays lowered their price objective on shares of Certara from $18.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, June 28th. Robert W. Baird reduced their target price on shares of Certara from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Certara in a report on Wednesday, July 10th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $17.79.

Insider Buying and Selling

In related news, insider Leif E. Pedersen sold 51,224 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.29, for a total value of $578,318.96. Following the completion of the transaction, the insider now owns 99,704 shares of the company’s stock, valued at $1,125,658.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.39% of the stock is currently owned by corporate insiders.

Institutional Trading of Certara

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. bought a new position in shares of Certara during the 2nd quarter valued at approximately $26,000. Pineridge Advisors LLC purchased a new position in Certara during the fourth quarter valued at $28,000. Innealta Capital LLC bought a new stake in shares of Certara in the 2nd quarter worth about $36,000. YHB Investment Advisors Inc. purchased a new position in Certara during the 1st quarter valued at about $47,000. Finally, Intech Investment Management LLC purchased a new position in shares of Certara in the 2nd quarter worth approximately $152,000. Institutional investors own 73.96% of the company’s stock.

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.