New York State Common Retirement Fund increased its position in Certara, Inc. (NASDAQ:CERT) by 1.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,500 shares of the company’s stock after purchasing an additional 500 shares during the period. New York State Common Retirement Fund’s holdings in Certara were worth $1,034,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Monashee Investment Management LLC boosted its stake in Certara by 11.1% in the first quarter. Monashee Investment Management LLC now owns 100,000 shares of the company’s stock valued at $2,730,000 after acquiring an additional 10,000 shares during the period. California State Teachers Retirement System acquired a new position in Certara in the first quarter valued at approximately $2,029,000. Cubist Systematic Strategies LLC boosted its stake in Certara by 175.8% in the first quarter. Cubist Systematic Strategies LLC now owns 54,338 shares of the company’s stock valued at $1,483,000 after acquiring an additional 34,638 shares during the period. Nuveen Asset Management LLC acquired a new position in Certara in the first quarter valued at approximately $3,504,000. Finally, Alliancebernstein L.P. boosted its stake in Certara by 20.0% in the second quarter. Alliancebernstein L.P. now owns 2,318,624 shares of the company’s stock valued at $65,687,000 after acquiring an additional 387,002 shares during the period. Institutional investors own 30.05% of the company’s stock.
Shares of NASDAQ CERT opened at $33.92 on Wednesday. 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 50 day simple moving average of $29.38 and a 200-day simple moving average of $28.53. The company has a market cap of $5.19 billion and a PE ratio of -106.00. Certara, Inc. has a 12-month low of $23.75 and a 12-month high of $41.79.
In related news, CFO Michael Andrew Schemick sold 66,666 shares of the business’s stock in a transaction that occurred on Tuesday, June 22nd. The stock was sold at an average price of $26.94, for a total transaction of $1,795,982.04. Following the sale, the chief financial officer now owns 830,177 shares of the company’s stock, valued at $22,364,968.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Avatar Parent L.P. Eqt sold 7,252,632 shares of the company’s stock in a transaction on Monday, August 2nd. The shares were sold at an average price of $26.00, for a total value of $188,568,432.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,673,417 shares of company stock worth $618,006,357. 6.80% of the stock is owned by corporate insiders.
CERT has been the subject of a number of research reports. Robert W. Baird initiated coverage on Certara in a research note on Friday, July 23rd. They issued an “outperform” rating and a $30.00 target price for the company. Zacks Investment Research upgraded Certara from a “sell” rating to a “hold” rating in a research report on Monday, August 16th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Certara has a consensus rating of “Buy” and a consensus price target of $34.50.
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.
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