State of Wyoming cut its stake in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Free Report) by 79.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,447 shares of the company’s stock after selling 63,815 shares during the quarter. State of Wyoming’s holdings in Maravai LifeSciences were worth $126,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new position in Maravai LifeSciences in the second quarter valued at about $1,038,000. Dimensional Fund Advisors LP increased its stake in shares of Maravai LifeSciences by 64.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,418,597 shares of the company’s stock valued at $4,015,000 after buying an additional 558,050 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Maravai LifeSciences in the second quarter valued at approximately $2,230,000. Engineers Gate Manager LP acquired a new position in shares of Maravai LifeSciences in the second quarter valued at approximately $487,000. Finally, Brummer Multi Strategy AB raised its holdings in Maravai LifeSciences by 66.0% in the 1st quarter. Brummer Multi Strategy AB now owns 759,743 shares of the company’s stock valued at $2,150,000 after buying an additional 302,036 shares during the last quarter. 50.25% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on MRVI shares. Wells Fargo & Company lifted their target price on shares of Maravai LifeSciences from $5.50 to $6.50 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Wall Street Zen upgraded shares of Maravai LifeSciences from a “hold” rating to a “buy” rating in a research report on Saturday. UBS Group raised their price target on shares of Maravai LifeSciences from $2.50 to $8.00 and gave the company a “neutral” rating in a research note on Wednesday, September 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Maravai LifeSciences in a report on Wednesday, August 26th. Finally, TD Cowen began coverage on shares of Maravai LifeSciences in a report on Monday, October 5th. They set a “buy” rating and a $9.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Maravai LifeSciences presently has an average rating of “Moderate Buy” and an average target price of $7.38.
View Our Latest Report on MRVI
Maravai LifeSciences Trading Down 2.0%
Shares of MRVI stock opened at $7.86 on Wednesday. Maravai LifeSciences Holdings, Inc. has a 1-year low of $2.80 and a 1-year high of $9.42. The company has a current ratio of 4.66, a quick ratio of 2.98 and a debt-to-equity ratio of 0.51. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of -18.28 and a beta of 0.61. The stock has a 50-day moving average of $7.38 and a 200-day moving average of $5.37.
Maravai LifeSciences (NASDAQ:MRVI – Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03. Maravai LifeSciences had a negative return on equity of 12.44% and a negative net margin of 30.83%. The company had revenue of $45.85 million for the quarter, compared to analyst estimates of $43.56 million. On average, equities research analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.18 earnings per share for the current year.
About Maravai LifeSciences
Maravai LifeSciences provides products and services used by biotechnology and pharmaceutical companies in the development and production of therapeutics, vaccines, and other biologic products. Its offerings include specialized nucleic acid materials and analytical testing services that support research, manufacturing, and quality control. Through TriLink BioTechnologies, the company supplies modified nucleotides, custom RNA and DNA, and related materials used in applications such as messenger RNA research and production.
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