Bank of America Corp DE Buys 1,522,034 Shares of Certara, Inc. $CERT

Bank of America Corp DE increased its position in Certara, Inc. (NASDAQ:CERT - Free Report) by 292.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,042,946 shares of the company's stock after buying an additional 1,522,034 shares during the period. Bank of America Corp DE owned 1.31% of Certara worth $11,645,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its position in shares of Certara by 2,733.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,975 shares of the company's stock worth $26,000 after purchasing an additional 2,870 shares during the period. Osaic Holdings Inc. increased its stake in Certara by 50.7% during the 2nd quarter. Osaic Holdings Inc. now owns 3,491 shares of the company's stock valued at $41,000 after purchasing an additional 1,175 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Certara by 499.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,917 shares of the company's stock valued at $69,000 after purchasing an additional 4,930 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Certara in the 2nd quarter valued at about $83,000. Finally, Gamco Investors INC. ET AL bought a new stake in Certara during the fourth quarter worth $90,000. 73.96% of the stock is owned by institutional investors.

Certara Stock Performance

Shares of NASDAQ CERT opened at $8.43 on Friday. The firm's fifty day moving average is $7.11 and its two-hundred day moving average is $6.46. Certara, Inc. has a 52-week low of $4.45 and a 52-week high of $13.88. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.55 and a current ratio of 2.55. The company has a market cap of $1.29 billion, a P/E ratio of -18.73 and a beta of 1.44.

Certara (NASDAQ:CERT - Get Free Report) last released its 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). The firm had revenue of $93.27 million during the quarter, compared to the consensus estimate of $98.09 million. Certara had a positive return on equity of 3.86% and a negative net margin of 16.75%.Certara's revenue was down 10.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 EPS. As a group, analysts anticipate that Certara, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CERT has been the topic of a number of research reports. Weiss Ratings raised shares of Certara from a "sell (e+)" rating to a "sell (d)" rating in a report on Wednesday, August 5th. Stephens decreased their price objective on shares of Certara from $10.00 to $9.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 12th. Morgan Stanley reduced their price objective on Certara from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 12th. Craig Hallum reduced their price objective on Certara from $10.00 to $8.00 and set a "hold" rating on the stock in a research note on Tuesday, May 12th. Finally, Robert W. Baird cut their target price on Certara from $7.00 to $6.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $8.28.

About Certara

Certara is a biosimulation software and services company that partners with pharmaceutical, biotechnology and medical device developers to accelerate drug discovery, development and regulatory approval. The company's platform integrates quantitative pharmacology, real-world evidence, artificial intelligence and machine learning to model and simulate drug behavior across a range of therapeutic areas and patient populations. By applying these mechanistic and data-driven approaches, Certara helps its clients predict clinical outcomes, optimize dosing strategies and streamline decision-making throughout the product lifecycle.

The company's offerings are divided into software tools and consulting services.

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