CERT - Certara hits 7-month high on joining S&P SmallCap 600

2023-03-16 12:11:32 ET

• Certara ( NASDAQ: CERT ) shares added ~10% on Thursday to reach the highest level since August after S&P Dow Jones Indices announced that the health tech company would be part of the S&P SmallCap 600 Index from Mar. 22, 2023.
• The Princeton, New Jersey firm will replace the engineering consulting company Exponent ( EXPO ) in the index.
• Certara ( CERT ), which focuses on providing software for the drug-development industry, has added ~11% over the past 12 months, while the broader healthcare sector lost ~5%, as shown in this graph.
• However, the stock has shed more than 46% since its 2020 IPO, which generated ~$336.5M in gross proceeds for the company.
• Seeking Alpha contributor Donovan Jones issued a Hold rating on CERT in March, arguing that a rising cost of capital environment will hurt most of its smaller biotech clients.

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