BlackRock Inc. Acquires New Stake in Certara, Inc. $CERT

BlackRock Inc. purchased a new position in shares of Certara, Inc. (NASDAQ:CERT - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 18,818,180 shares of the company's stock, valued at approximately $123,259,000. BlackRock Inc. owned about 12.34% of Certara at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. AQR Capital Management LLC bought a new position in shares of Certara in the 1st quarter valued at about $259,000. Goldman Sachs Group Inc. raised its stake in Certara by 65.6% in the first quarter. Goldman Sachs Group Inc. now owns 228,996 shares of the company's stock worth $2,267,000 after buying an additional 90,724 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Certara by 13.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 299,528 shares of the company's stock worth $2,965,000 after buying an additional 35,954 shares during the last quarter. Jane Street Group LLC increased its position in Certara by 17.1% during the 1st quarter. Jane Street Group LLC now owns 277,054 shares of the company's stock valued at $2,743,000 after buying an additional 40,463 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Certara by 29.3% during the second quarter. JPMorgan Chase & Co. now owns 93,057 shares of the company's stock worth $1,089,000 after buying an additional 21,099 shares during the period. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

Certara Trading Down 0.7%

Shares of Certara stock opened at $8.35 on Friday. Certara, Inc. has a fifty-two week low of $4.45 and a fifty-two week high of $13.88. The business's fifty day moving average is $7.37 and its two-hundred day moving average is $6.47. The firm has a market cap of $1.27 billion, a PE ratio of -18.56 and a beta of 1.44. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.30.

Certara (NASDAQ:CERT - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.01). Certara had a positive return on equity of 3.86% and a negative net margin of 16.75%.The firm had revenue of $93.27 million during the quarter, compared to analysts' expectations of $98.09 million. During the same quarter last year, the business earned $0.07 earnings per share. The business's revenue for the quarter was down 10.8% compared to the same quarter last year. Analysts anticipate that Certara, Inc. will post 0.22 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CERT shares. Craig Hallum cut their target price on shares of Certara from $10.00 to $8.00 and set a "hold" rating for the company in a report on Tuesday, May 12th. Barclays upped their price target on Certara from $6.50 to $7.50 and gave the company an "equal weight" rating in a research note on Wednesday, August 5th. BMO Capital Markets cut their target price on shares of Certara from $7.00 to $6.00 and set a "market perform" rating on the stock in a research note on Tuesday, May 12th. Weiss Ratings upgraded shares of Certara from a "sell (e+)" rating to a "sell (d)" rating in a research note on Wednesday, August 5th. Finally, Morgan Stanley cut 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 equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Certara presently has an average rating of "Hold" and an average target price of $8.28.

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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