US Bancorp DE Sells 31,254 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

US Bancorp DE decreased its stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Get Rating) by 59.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,402 shares of the company’s stock after selling 31,254 shares during the period. US Bancorp DE’s holdings in Maravai LifeSciences were worth $547,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA raised its position in Maravai LifeSciences by 41.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 12,691,171 shares of the company’s stock worth $360,556,000 after acquiring an additional 3,726,068 shares during the period. JPMorgan Chase & Co. raised its position in Maravai LifeSciences by 4.0% in the second quarter. JPMorgan Chase & Co. now owns 3,530,561 shares of the company’s stock worth $100,303,000 after acquiring an additional 135,961 shares during the period. Clearbridge Investments LLC raised its position in Maravai LifeSciences by 11.4% in the second quarter. Clearbridge Investments LLC now owns 2,707,875 shares of the company’s stock worth $76,931,000 after acquiring an additional 277,260 shares during the period. Artemis Investment Management LLP raised its position in Maravai LifeSciences by 10.8% in the third quarter. Artemis Investment Management LLP now owns 2,476,728 shares of the company’s stock worth $63,262,000 after acquiring an additional 242,162 shares during the period. Finally, Renaissance Technologies LLC raised its position in Maravai LifeSciences by 105.3% in the second quarter. Renaissance Technologies LLC now owns 1,875,000 shares of the company’s stock worth $53,269,000 after acquiring an additional 961,800 shares during the period. Institutional investors own 48.67% of the company’s stock.

Maravai LifeSciences Price Performance

Shares of NASDAQ:MRVI opened at $14.05 on Friday. The company has a current ratio of 7.22, a quick ratio of 6.68 and a debt-to-equity ratio of 0.62. Maravai LifeSciences Holdings, Inc. has a 12 month low of $12.16 and a 12 month high of $41.82. The stock has a market cap of $3.59 billion, a P/E ratio of 7.85 and a beta of -0.25. The company has a 50 day moving average of $14.02 and a 200 day moving average of $19.61.

Maravai LifeSciences (NASDAQ:MRVI – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. Maravai LifeSciences had a net margin of 26.29% and a return on equity of 69.19%. The business had revenue of $191.26 million during the quarter, compared to analysts’ expectations of $193.83 million. As a group, sell-side analysts forecast that Maravai LifeSciences Holdings, Inc. will post 1.79 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on MRVI. Royal Bank of Canada began coverage on shares of Maravai LifeSciences in a research note on Tuesday, December 6th. They issued an “outperform” rating and a $22.00 target price for the company. Credit Suisse Group reduced their target price on shares of Maravai LifeSciences from $34.00 to $26.00 and set an “outperform” rating for the company in a research note on Thursday, November 3rd. UBS Group downgraded shares of Maravai LifeSciences from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $20.00 to $16.00 in a research note on Thursday, January 5th. Morgan Stanley reduced their target price on shares of Maravai LifeSciences from $35.00 to $32.00 and set an “overweight” rating for the company in a research note on Friday, November 4th. Finally, The Goldman Sachs Group reduced their target price on shares of Maravai LifeSciences from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, January 17th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

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.