Simulations Plus (NASDAQ:SLP) Stock Price Down 8% – Here’s Why

Simulations Plus, Inc. (NASDAQ:SLP) shares were down 8% on Thursday . The stock traded as low as $33.22 and last traded at $33.02. Approximately 108,838 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 258,353 shares. The stock had previously closed at $35.90.

Analysts Set New Price Targets

SLP has been the topic of several recent research reports. KeyCorp raised their price objective on Simulations Plus from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. William Blair reiterated an “outperform” rating on shares of Simulations Plus in a research note on Wednesday, January 8th. StockNews.com lowered shares of Simulations Plus from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. Stephens assumed coverage on shares of Simulations Plus in a report on Friday, November 15th. They issued an “overweight” rating and a $39.00 target price for the company. Finally, BTIG Research dropped their price objective on shares of Simulations Plus from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.40.

Simulations Plus Trading Down 9.6 %

The stock’s 50-day moving average is $31.69 and its two-hundred day moving average is $32.19. The company has a market capitalization of $651.74 million, a PE ratio of 81.25 and a beta of 0.83.

Insider Activity at Simulations Plus

In other news, Director Walter S. Woltosz sold 20,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $33.91, for a total transaction of $678,200.00. Following the transaction, the director now owns 3,402,584 shares of the company’s stock, valued at approximately $115,381,623.44. This represents a 0.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 19.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Conestoga Capital Advisors LLC lifted its position in shares of Simulations Plus by 15.0% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,226,262 shares of the technology company’s stock worth $62,090,000 after purchasing an additional 290,414 shares during the period. State Street Corp increased its holdings in shares of Simulations Plus by 4.7% in the 3rd quarter. State Street Corp now owns 640,303 shares of the technology company’s stock valued at $20,503,000 after acquiring an additional 28,953 shares during the period. Ameriprise Financial Inc. raised its position in shares of Simulations Plus by 16.7% in the 4th quarter. Ameriprise Financial Inc. now owns 607,902 shares of the technology company’s stock worth $16,954,000 after acquiring an additional 86,868 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Simulations Plus by 7,753.3% in the 4th quarter. Janus Henderson Group PLC now owns 542,899 shares of the technology company’s stock worth $15,141,000 after acquiring an additional 535,986 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Simulations Plus by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 448,618 shares of the technology company’s stock worth $14,367,000 after purchasing an additional 18,924 shares during the last quarter. 78.08% of the stock is currently owned by institutional investors.

Simulations Plus Company Profile

Simulations Plus, Inc develops drug discovery and development software for modeling and simulation, and prediction of molecular properties utilizing artificial intelligence and machine learning based technology worldwide. The company operates through two segments, Software and Services. It offers GastroPlus, which simulates the absorption and drug interaction of compounds administered to humans and animals; and DDDPlus and MembranePlus simulation products.