Short Interest in Certara, Inc. (NASDAQ:CERT) Grows By 30.7%

Certara, Inc. (NASDAQ:CERT) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 2,000,000 shares, a growth of 30.7% from the August 15th total of 1,530,000 shares. Based on an average daily volume of 670,100 shares, the days-to-cover ratio is currently 3.0 days. Approximately 3.2% of the shares of the company are sold short.

CERT traded up $0.42 during trading on Monday, reaching $35.14. 21,443 shares of the company’s stock were exchanged, compared to its average volume of 678,395. Certara has a one year low of $23.75 and a one year high of $41.79. The company has a current ratio of 5.82, a quick ratio of 5.82 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $5.53 billion and a PE ratio of -108.66. The firm has a fifty day moving average price of $29.90 and a two-hundred day moving average price of $28.53.

Certara (NASDAQ:CERT) last posted its earnings results on Thursday, August 5th. The company reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.02). Sell-side analysts expect that Certara will post 0.14 earnings per share for the current year.

CERT has been the topic of several research reports. Zacks Investment Research raised shares of Certara from a “sell” rating to a “hold” rating in a report on Monday, August 16th. Robert W. Baird lifted their price target on shares of Certara from $32.00 to $41.00 and gave the company an “outperform” rating in a report on Friday. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Certara presently has a consensus rating of “Buy” and a consensus target price of $36.33.

In other news, SVP Richard M. Traynor sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, June 28th. The shares were sold at an average price of $28.38, for a total value of $85,140.00. Following the completion of the transaction, the senior vice president now directly owns 350,287 shares in the company, valued at approximately $9,941,145.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William F. Feehery sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 23rd. The shares were sold at an average price of $26.53, for a total transaction of $1,989,750.00. Following the completion of the transaction, the chief executive officer now owns 3,238,251 shares of the company’s stock, valued at $85,910,799.03. The disclosure for this sale can be found here. Insiders sold a total of 21,673,417 shares of company stock valued at $618,006,357 in the last quarter. Corporate insiders own 6.80% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of CERT. William Blair Investment Management LLC lifted its position in shares of Certara by 2,554.3% in the 1st quarter. William Blair Investment Management LLC now owns 4,839,715 shares of the company’s stock worth $132,124,000 after purchasing an additional 4,657,379 shares during the period. BlackRock Inc. lifted its position in shares of Certara by 82.5% in the 2nd quarter. BlackRock Inc. now owns 4,828,378 shares of the company’s stock worth $136,788,000 after purchasing an additional 2,182,487 shares during the period. Franklin Resources Inc. lifted its position in shares of Certara by 93.9% during the 1st quarter. Franklin Resources Inc. now owns 2,066,161 shares of the company’s stock valued at $56,406,000 after acquiring an additional 1,000,614 shares during the period. Alliancebernstein L.P. lifted its position in shares of Certara by 101.0% during the 1st quarter. Alliancebernstein L.P. now owns 1,931,622 shares of the company’s stock valued at $52,733,000 after acquiring an additional 970,595 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Certara by 40.5% during the 1st quarter. JPMorgan Chase & Co. now owns 2,778,931 shares of the company’s stock valued at $75,865,000 after acquiring an additional 801,502 shares during the period. Hedge funds and other institutional investors own 30.05% of the company’s stock.

About Certara

Certara Inc provides software products and technology-enabled services to customers for biosimulation in drug discovery, preclinincal and clinical research, regulatory submissions, and market access. It offers medicines to patients using biosimulation software and technology to transform drug discovery and development.

Further Reading: Initial Coin Offering (ICO)

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