Ardevora Asset Management LLP reduced its holdings in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Get Rating) by 47.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 905,303 shares of the company's stock after selling 805,791 shares during the quarter. Ardevora Asset Management LLP owned 0.35% of Maravai LifeSciences worth $23,112,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in MRVI. Bank of New York Mellon Corp lifted its position in shares of Maravai LifeSciences by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 416,617 shares of the company's stock valued at $14,694,000 after purchasing an additional 6,339 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Maravai LifeSciences by 13.6% during the first quarter. Bank of Montreal Can now owns 16,563 shares of the company's stock valued at $591,000 after purchasing an additional 1,986 shares in the last quarter. MetLife Investment Management LLC bought a new position in shares of Maravai LifeSciences during the first quarter valued at about $250,000. Dimensional Fund Advisors LP lifted its position in shares of Maravai LifeSciences by 534.6% during the first quarter. Dimensional Fund Advisors LP now owns 117,159 shares of the company's stock valued at $4,133,000 after purchasing an additional 98,698 shares in the last quarter. Finally, Sei Investments Co. lifted its position in shares of Maravai LifeSciences by 7.5% during the first quarter. Sei Investments Co. now owns 159,229 shares of the company's stock valued at $5,554,000 after purchasing an additional 11,079 shares in the last quarter. 48.67% of the stock is currently owned by institutional investors and hedge funds.
Get Maravai LifeSciences alerts:Maravai LifeSciences Stock Up 3.3 %
NASDAQ MRVI opened at $14.51 on Tuesday. The business has a fifty day moving average price of $14.01 and a 200 day moving average price of $19.36. Maravai LifeSciences Holdings, Inc. has a one year low of $12.16 and a one year high of $41.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 6.68 and a current ratio of 7.22. The company has a market cap of $3.70 billion, a P/E ratio of 8.11 and a beta of -0.25.
Maravai LifeSciences (NASDAQ:MRVI – Get Rating) last issued its 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 company had revenue of $191.26 million during the quarter, compared to analysts' expectations of $193.83 million. Maravai LifeSciences had a return on equity of 69.19% and a net margin of 26.29%. Research analysts anticipate that Maravai LifeSciences Holdings, Inc. will post 1.79 EPS for the current fiscal year.Analysts Set New Price Targets
A number of research firms recently weighed in on MRVI. The Goldman Sachs Group dropped their price target on shares of Maravai LifeSciences from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Tuesday, January 17th. Royal Bank of Canada assumed coverage on shares of Maravai LifeSciences in a report on Tuesday, December 6th. They set an "outperform" rating and a $22.00 price target on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Maravai LifeSciences in a research note on Tuesday, December 13th. They set a "buy" rating and a $25.00 target price on the stock. Bank of America lowered shares of Maravai LifeSciences from a "buy" rating to a "neutral" rating and cut their price objective for the company from $32.00 to $17.00 in a report on Thursday, November 3rd. Finally, UBS Group lowered shares of Maravai LifeSciences from a "buy" rating to a "neutral" rating and cut their target price for the company from $20.00 to $16.00 in a report on Thursday, January 5th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $23.00.
About Maravai LifeSciences
(Get Rating)
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.
Further Reading
- Get a free copy of the StockNews.com research report on Maravai LifeSciences (MRVI)
- Intuit Is About To Make a Move, But Which Way?
- 3 Late January Earnings Plays With Pop Potential
- Low-Priced Stocks Still Paying Dividends
- Why is the Chipotle Stock Price Surging This Week?
- Is the Northrop Grumman Selloff an Opportunity?
Receive News & Ratings for Maravai LifeSciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Maravai LifeSciences and related companies with MarketBeat.com's FREE daily email newsletter.