US Bancorp DE cut its position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Get Rating) by 59.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,402 shares of the company's stock after selling 31,254 shares during the quarter. US Bancorp DE's holdings in Maravai LifeSciences were worth $547,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its stake in Maravai LifeSciences by 41.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 12,691,171 shares of the company's stock valued at $360,556,000 after buying an additional 3,726,068 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Maravai LifeSciences by 4.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,530,561 shares of the company's stock valued at $100,303,000 after buying an additional 135,961 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of Maravai LifeSciences by 11.4% during the 2nd quarter. Clearbridge Investments LLC now owns 2,707,875 shares of the company's stock worth $76,931,000 after purchasing an additional 277,260 shares in the last quarter. Artemis Investment Management LLP grew its position in shares of Maravai LifeSciences by 10.8% during the 3rd quarter. Artemis Investment Management LLP now owns 2,476,728 shares of the company's stock worth $63,262,000 after purchasing an additional 242,162 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Maravai LifeSciences by 105.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,875,000 shares of the company's stock worth $53,269,000 after purchasing an additional 961,800 shares in the last quarter. 48.67% of the stock is owned by institutional investors.
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Wall Street Analyst Weigh In
A number of brokerages have issued reports on MRVI. Bank of America lowered shares of Maravai LifeSciences from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $32.00 to $17.00 in a research report on Thursday, November 3rd. Morgan Stanley decreased their target price 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 assumed coverage on shares of Maravai LifeSciences in a report on Tuesday, December 13th. They set a "buy" rating and a $25.00 price target for the company. Credit Suisse Group cut their price target on shares of Maravai LifeSciences from $34.00 to $26.00 and set an "outperform" rating for the company in a report on Thursday, November 3rd. Finally, KeyCorp cut their price target on shares of Maravai LifeSciences from $35.00 to $28.00 and set an "overweight" rating for the company in a report on Thursday, November 3rd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.00.
Maravai LifeSciences Price Performance
Shares of NASDAQ:MRVI opened at $14.05 on Friday. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 7.85 and a beta of -0.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 7.22 and a quick ratio of 6.68. The firm has a 50 day simple moving average of $14.02 and a 200 day simple moving average of $19.61. Maravai LifeSciences Holdings, Inc. has a one year low of $12.16 and a one year high of $41.82.
Maravai LifeSciences (NASDAQ:MRVI – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.05. The firm had revenue of $191.26 million during 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%. Research analysts predict that Maravai LifeSciences Holdings, Inc. will post 1.79 earnings per share for the current fiscal year.
Maravai LifeSciences Company Profile
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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.
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