Ensign Peak Advisors Inc decreased its stake in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Get Rating) by 9.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 31,160 shares of the company’s stock after selling 3,280 shares during the period. Ensign Peak Advisors Inc’s holdings in Maravai LifeSciences were worth $796,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. Captrust Financial Advisors grew its position in Maravai LifeSciences by 1.3% in the 1st quarter. Captrust Financial Advisors now owns 33,535 shares of the company’s stock valued at $1,183,000 after purchasing an additional 442 shares during the period. Zions Bancorporation N.A. acquired a new stake in Maravai LifeSciences in the 1st quarter valued at $28,000. ProShare Advisors LLC grew its position in Maravai LifeSciences by 6.5% in the 3rd quarter. ProShare Advisors LLC now owns 12,804 shares of the company’s stock valued at $327,000 after purchasing an additional 785 shares during the period. Signaturefd LLC grew its position in Maravai LifeSciences by 200.5% in 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. Finally, SeaCrest Wealth Management LLC acquired a new stake in Maravai LifeSciences in the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 48.67% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the stock. KeyCorp reduced their price target on shares of Maravai LifeSciences from $28.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, February 23rd. The Goldman Sachs Group dropped their price objective on Maravai LifeSciences from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, January 17th. Robert W. Baird dropped their price objective on Maravai LifeSciences from $25.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, February 23rd. Credit Suisse Group dropped their price objective on Maravai LifeSciences from $26.00 to $23.00 and set an “outperform” rating on the stock in a research note on Thursday, February 23rd. Finally, Morgan Stanley dropped their price objective on Maravai LifeSciences from $32.00 to $29.00 and set an “overweight” rating on the stock in a research note on Friday, February 24th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Maravai LifeSciences presently has an average rating of “Moderate Buy” and a consensus target price of $21.56.
Maravai LifeSciences Trading Up 2.2 %
Maravai LifeSciences (NASDAQ:MRVI – Get Rating) last released its earnings results on Wednesday, February 22nd. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $204.70 million for the quarter, compared to analysts’ expectations of $204.95 million. Maravai LifeSciences had a return on equity of 57.88% and a net margin of 24.94%. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.45 EPS. Equities research analysts predict that Maravai LifeSciences Holdings, Inc. will post 0.35 EPS for the current year.
Maravai LifeSciences Company Profile
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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