Bank of New York Mellon Corp Purchases Shares of 731,012 Certara, Inc. $CERT

Key Points

• Bank of New York Mellon acquired 731,012 Certara shares worth approximately $4.8 million, representing about 0.47% of the company. Institutional investors collectively own 73.96% of Certara.
• Analysts remain cautious, with Certara holding a consensus “Hold” rating and an average price target of $8.28; several firms recently lowered their targets.
• Certara’s latest quarterly results fell short of expectations, with EPS of $0.08 versus $0.09 expected and revenue of $93.27 million versus $98.09 million, down 10.8% year over year.

Bank of New York Mellon Corp purchased a new position in Certara, Inc. (NASDAQ:CERT - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 731,012 shares of the company's stock, valued at approximately $4,788,000. Bank of New York Mellon Corp owned approximately 0.47% of Certara at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted 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 buying an additional 2,870 shares during the period. Osaic Holdings Inc. increased its holdings in Certara by 50.7% in the second quarter. Osaic Holdings Inc. now owns 3,491 shares of the company's stock valued at $41,000 after buying an additional 1,175 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Certara by 499.5% in the second quarter. Tower Research Capital LLC TRC now owns 5,917 shares of the company's stock valued at $69,000 after buying an additional 4,930 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Certara during the second quarter worth approximately $83,000. Finally, Gamco Investors INC. ET AL purchased a new position in Certara in the fourth quarter valued at approximately $90,000. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on CERT shares. Robert W. Baird dropped their price objective on shares of Certara from $7.00 to $6.00 and set a "neutral" rating for the company in a research note on Tuesday, May 12th. Barclays lifted their target price on Certara from $6.50 to $7.50 and gave the stock an "equal weight" rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded Certara from a "sell (e+)" rating to a "sell (d)" rating in a report on Wednesday, August 5th. BMO Capital Markets cut their price target on shares of Certara from $7.00 to $6.00 and set a "market perform" rating on the stock in a report on Tuesday, May 12th. Finally, Morgan Stanley dropped their target price on shares of Certara from $11.00 to $10.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Certara currently has a consensus rating of "Hold" and an average target price of $8.28.

Certara Stock Performance

NASDAQ:CERT opened at $7.94 on Friday. The firm's 50-day moving average is $7.63 and its 200-day moving average is $6.52. The company has a market cap of $1.21 billion, a price-to-earnings ratio of -17.64 and a beta of 1.40. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.55 and a current ratio of 2.55. Certara, Inc. has a 52-week low of $4.45 and a 52-week high of $13.88.

Certara (NASDAQ:CERT - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). The business had revenue of $93.27 million for 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 for the quarter was down 10.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.07 EPS. Equities research analysts anticipate that Certara, Inc. will post 0.22 earnings per share for the current year.

Certara Profile

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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