Pendal Group Ltd trimmed its position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Get Rating) by 31.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,543 shares of the company's stock after selling 6,241 shares during the quarter. Pendal Group Ltd's holdings in Maravai LifeSciences were worth $194,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in the company. Zions Bancorporation N.A. acquired a new position in Maravai LifeSciences during the 1st quarter valued at approximately $28,000. China Universal Asset Management Co. Ltd. acquired a new position in Maravai LifeSciences during the 3rd quarter valued at approximately $31,000. Signaturefd LLC boosted its position in Maravai LifeSciences by 200.5% during the 3rd quarter. Signaturefd LLC now owns 1,202 shares of the company's stock valued at $31,000 after purchasing an additional 802 shares during the period. PenderFund Capital Management Ltd. acquired a new position in Maravai LifeSciences during the 2nd quarter valued at approximately $44,000. Finally, Van ECK Associates Corp boosted its position in Maravai LifeSciences by 56.7% during the 3rd quarter. Van ECK Associates Corp now owns 4,480 shares of the company's stock valued at $114,000 after purchasing an additional 1,621 shares during the period. 48.67% of the stock is currently owned by institutional investors.
Get Maravai LifeSciences alerts:Analyst Ratings Changes
A number of research analysts recently issued reports on MRVI shares. UBS Group lowered Maravai LifeSciences from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $20.00 to $16.00 in a research report on Thursday, January 5th. Royal Bank of Canada assumed coverage on Maravai LifeSciences in a research note on Tuesday, December 6th. They issued an "outperform" rating and a $22.00 price target for the company. Credit Suisse Group decreased their price target on Maravai LifeSciences from $26.00 to $23.00 and set an "outperform" rating for the company in a research note on Thursday, February 23rd. Deutsche Bank Aktiengesellschaft assumed coverage on Maravai LifeSciences in a research note on Tuesday, December 13th. They issued a "buy" rating and a $25.00 price target for the company. Finally, KeyCorp decreased their price target on Maravai LifeSciences from $28.00 to $24.00 and set an "overweight" rating for the company in a research note on Thursday, February 23rd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Maravai LifeSciences presently has an average rating of "Moderate Buy" and a consensus price target of $21.56.
Maravai LifeSciences Trading Down 1.0 %
Shares of MRVI stock opened at $13.50 on Friday. The stock has a 50-day simple moving average of $14.54 and a 200 day simple moving average of $16.00. Maravai LifeSciences Holdings, Inc. has a fifty-two week low of $12.16 and a fifty-two week high of $38.79. The stock has a market capitalization of $3.45 billion, a P/E ratio of 8.18 and a beta of -0.22. The company has a quick ratio of 7.31, a current ratio of 7.70 and a debt-to-equity ratio of 0.58.
Maravai LifeSciences (NASDAQ:MRVI – Get Rating) last announced its earnings results on Wednesday, February 22nd. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. Maravai LifeSciences had a return on equity of 57.88% and a net margin of 24.94%. The business had revenue of $204.70 million during the quarter, compared to the consensus estimate of $204.95 million. During the same period in the prior year, the business posted $0.45 earnings per share. Maravai LifeSciences's revenue was down 10.4% compared to the same quarter last year. On average, sell-side analysts expect that Maravai LifeSciences Holdings, Inc. will post 0.35 earnings per share for the current fiscal year.
About Maravai LifeSciences
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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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