Pendal Group Ltd lowered its stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Get Rating) by 70.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,784 shares of the company’s stock after selling 46,257 shares during the quarter. Pendal Group Ltd’s holdings in Maravai LifeSciences were worth $505,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its holdings in Maravai LifeSciences by 2,877.7% in the second quarter. SG Americas Securities LLC now owns 85,222 shares of the company’s stock worth $2,421,000 after purchasing an additional 82,360 shares during the last quarter. Dupont Capital Management Corp boosted its holdings in Maravai LifeSciences by 9.2% in the second quarter. Dupont Capital Management Corp now owns 27,817 shares of the company’s stock worth $790,000 after purchasing an additional 2,354 shares during the last quarter. US Bancorp DE boosted its holdings in Maravai LifeSciences by 52,034.7% in the second quarter. US Bancorp DE now owns 52,656 shares of the company’s stock worth $1,496,000 after purchasing an additional 52,555 shares during the last quarter. Artemis Investment Management LLP boosted its holdings in Maravai LifeSciences by 69.9% in the second quarter. Artemis Investment Management LLP now owns 2,234,566 shares of the company’s stock worth $63,590,000 after purchasing an additional 918,958 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Maravai LifeSciences by 27.8% in the second quarter. Principal Financial Group Inc. now owns 641,349 shares of the company’s stock worth $18,220,000 after purchasing an additional 139,667 shares during the last quarter. Hedge funds and other institutional investors own 48.67% of the company’s stock.
Maravai LifeSciences Stock Down 1.1 %
Shares of MRVI stock opened at $13.82 on Wednesday. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 7.72 and a beta of -0.30. Maravai LifeSciences Holdings, Inc. has a one year low of $12.16 and a one year high of $43.06. The company’s fifty day moving average price is $14.73 and its 200-day moving average price is $21.23. The company has a debt-to-equity ratio of 0.62, a current ratio of 7.22 and a quick ratio of 6.68.
Maravai LifeSciences (NASDAQ:MRVI – Get Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.32 by $0.05. The firm had revenue of $191.26 million for the quarter, compared to the consensus estimate of $193.83 million. Maravai LifeSciences had a net margin of 26.29% and a return on equity of 69.19%. Sell-side analysts expect that Maravai LifeSciences Holdings, Inc. will post 1.79 EPS for the current fiscal year.
Analyst Ratings Changes
Several research firms have weighed in on MRVI. Morgan Stanley decreased their price target on shares of Maravai LifeSciences from $35.00 to $32.00 and set an “overweight” rating on the stock in a research report on Friday, November 4th. Deutsche Bank Aktiengesellschaft began coverage on shares of Maravai LifeSciences in a research report on Tuesday, December 13th. They issued a “buy” rating and a $25.00 price target on the stock. Royal Bank of Canada began coverage on shares of Maravai LifeSciences in a research report on Tuesday, December 6th. They issued an “outperform” rating and a $22.00 price target on the stock. Robert W. Baird decreased their price target on shares of Maravai LifeSciences from $34.00 to $25.00 in a research report on Thursday, November 3rd. Finally, KeyCorp decreased their price target on shares of Maravai LifeSciences from $35.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, November 3rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Maravai LifeSciences currently has an average rating of “Moderate Buy” and a consensus price target of $24.13.
About Maravai LifeSciences
Maravai LifeSciences Holdings, Inc, a life sciences company, provides products to enable the development of drug therapies, diagnostics, novel vaccines, and support research on human diseases in the United States and internationally. The company’s products address the key phases of biopharmaceutical development and include nucleic acids for diagnostic and therapeutic applications, antibody-based products to detect impurities during the production of biopharmaceutical products, and products to detect the expression of proteins in tissues of various species.
See Also
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