95,805 Shares in Simulations Plus, Inc. $SLP Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 95,805 shares of Simulations Plus in the second quarter, worth approximately $1.75 million and representing 0.47% of the company.
• Other institutions also initiated positions, while institutional investors and hedge funds collectively owned 78.08% of Simulations Plus.
• Simulations Plus reported quarterly EPS of $0.30, beating estimates by $0.07, and revenue of $21.89 million. Despite the earnings beat, analysts largely rate the stock “Hold,” with an average price target of $17.25 versus its $18.49 opening price.

Bank of America Corp DE acquired a new position in Simulations Plus, Inc. (NASDAQ:SLP - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 95,805 shares of the technology company's stock, valued at approximately $1,754,000. Bank of America Corp DE owned 0.47% of Simulations Plus as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Polar Asset Management Partners Inc. purchased a new position in shares of Simulations Plus during the 2nd quarter worth $2,341,000. Meros Investment Management LP purchased a new stake in Simulations Plus in the 2nd quarter valued at about $2,384,493. Hsbc Holdings PLC purchased a new stake in Simulations Plus in the 2nd quarter valued at about $520,000. Canada Pension Plan Investment Board acquired a new position in Simulations Plus in the second quarter valued at about $223,000. Finally, Legal & General Group Plc acquired a new position in Simulations Plus in the second quarter valued at about $89,000. Institutional investors and hedge funds own 78.08% of the company's stock.

Simulations Plus Trading Up 0.3%

Simulations Plus stock opened at $18.49 on Friday. The firm has a market capitalization of $374.05 million, a P/E ratio of 46.22 and a beta of 1.31. Simulations Plus, Inc. has a twelve month low of $11.09 and a twelve month high of $21.01. The stock's fifty day simple moving average is $18.39 and its 200-day simple moving average is $16.47.

Simulations Plus (NASDAQ:SLP - Get Free Report) last released its earnings results on Thursday, July 9th. The technology company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.23 by $0.07. The firm had revenue of $21.89 million during the quarter, compared to analysts' expectations of $20.90 million. Simulations Plus had a return on equity of 13.50% and a net margin of 9.88%.

Wall Street Analyst Weigh In

SLP has been the topic of several recent analyst reports. Craig Hallum lowered shares of Simulations Plus from a "buy" rating to a "hold" rating and set a $18.50 price objective on the stock. in a report on Thursday, June 18th. William Blair downgraded shares of Simulations Plus from an "outperform" rating to a "market perform" rating in a report on Wednesday, June 17th. Wall Street Zen downgraded shares of Simulations Plus from a "buy" rating to a "hold" rating in a report on Saturday, June 13th. Finally, Weiss Ratings raised Simulations Plus from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, July 10th. Seven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $17.25.

Simulations Plus Profile

Simulations Plus, Inc develops software and provides consulting services for pharmaceutical and biotechnology companies involved in drug discovery and development. Its modeling and simulation tools are designed to help researchers evaluate drug candidates, understand how medicines move through the body, assess safety risks and support decisions throughout the development process.

The company's products include GastroPlus, a platform used for physiologically based pharmacokinetic and biopharmaceutic modeling; ADMET Predictor, which helps predict absorption, distribution, metabolism, excretion and toxicity characteristics; and DILIsym, a software platform focused on drug-induced liver injury.

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