Truist Financial Corp lowered its holdings in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Free Report) by 22.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,068 shares of the company’s stock after selling 4,379 shares during the quarter. Truist Financial Corp’s holdings in Maravai LifeSciences were worth $99,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also bought and sold shares of the business. New York State Common Retirement Fund lifted its position in Maravai LifeSciences by 1.9% during the fourth quarter. New York State Common Retirement Fund now owns 213,788 shares of the company’s stock valued at $1,400,000 after purchasing an additional 4,079 shares during the last quarter. Handelsbanken Fonder AB raised its stake in shares of Maravai LifeSciences by 15.4% in the fourth quarter. Handelsbanken Fonder AB now owns 25,500 shares of the company’s stock valued at $167,000 after acquiring an additional 3,400 shares during the period. VELA Investment Management LLC raised its stake in shares of Maravai LifeSciences by 74.9% in the fourth quarter. VELA Investment Management LLC now owns 74,317 shares of the company’s stock valued at $487,000 after acquiring an additional 31,824 shares during the period. Mackenzie Financial Corp raised its stake in shares of Maravai LifeSciences by 4.8% in the fourth quarter. Mackenzie Financial Corp now owns 5,169,176 shares of the company’s stock valued at $33,858,000 after acquiring an additional 238,335 shares during the period. Finally, Simplicity Solutions LLC raised its stake in shares of Maravai LifeSciences by 83.3% in the fourth quarter. Simplicity Solutions LLC now owns 23,760 shares of the company’s stock valued at $156,000 after acquiring an additional 10,796 shares during the period. Institutional investors own 50.25% of the company’s stock.
Maravai LifeSciences Trading Up 0.9 %
MRVI stock opened at $11.05 on Thursday. The company has a market capitalization of $2.78 billion, a PE ratio of -11.16 and a beta of 0.03. Maravai LifeSciences Holdings, Inc. has a 12 month low of $4.52 and a 12 month high of $14.88. The firm’s 50-day moving average is $8.75 and its 200 day moving average is $7.03. The company has a debt-to-equity ratio of 0.71, a current ratio of 11.32 and a quick ratio of 10.47.
Maravai LifeSciences (NASDAQ:MRVI – Get Free Report) last posted its earnings results on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The business had revenue of $74.14 million for the quarter, compared to analysts’ expectations of $62.99 million. Maravai LifeSciences had a negative net margin of 47.81% and a negative return on equity of 4.28%. On average, research analysts anticipate that Maravai LifeSciences Holdings, Inc. will post -0.15 EPS for the current year.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the stock. Craig Hallum assumed coverage on shares of Maravai LifeSciences in a research note on Wednesday, April 10th. They issued a “buy” rating and a $15.00 target price on the stock. Robert W. Baird increased their target price on shares of Maravai LifeSciences from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Stifel Nicolaus reduced their target price on shares of Maravai LifeSciences from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Finally, Royal Bank of Canada increased their target price on shares of Maravai LifeSciences from $12.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.44.
Get Our Latest Stock Report on Maravai LifeSciences
Maravai LifeSciences Profile
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 worldwide. 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.
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