Treasurer of the State of North Carolina Purchases 14,157 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Treasurer of the State of North Carolina increased its stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Get Rating) by 21.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 81,022 shares of the company’s stock after buying an additional 14,157 shares during the period. Treasurer of the State of North Carolina’s holdings in Maravai LifeSciences were worth $1,159,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MRVI. Signaturefd LLC grew its stake in shares of Maravai LifeSciences by 63.2% in the 4th quarter. Signaturefd LLC now owns 1,962 shares of the company’s stock worth $28,000 after buying an additional 760 shares during the last quarter. Zions Bancorporation N.A. bought a new position in Maravai LifeSciences in the 1st quarter valued at approximately $28,000. Gladius Capital Management LP bought a new position in Maravai LifeSciences in the 4th quarter valued at approximately $38,000. Steph & Co. bought a new position in Maravai LifeSciences in the 4th quarter valued at approximately $97,000. Finally, Point72 Hong Kong Ltd lifted its position in Maravai LifeSciences by 141.7% in the 3rd quarter. Point72 Hong Kong Ltd now owns 5,312 shares of the company’s stock valued at $136,000 after acquiring an additional 3,114 shares in the last quarter. Hedge funds and other institutional investors own 48.67% of the company’s stock.

Maravai LifeSciences Trading Up 4.9 %

NASDAQ:MRVI opened at $13.38 on Friday. Maravai LifeSciences Holdings, Inc. has a one year low of $11.89 and a one year high of $35.82. The company has a debt-to-equity ratio of 0.60, a current ratio of 6.13 and a quick ratio of 5.69. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of 11.63 and a beta of -0.23. The business has a fifty day moving average price of $13.83 and a 200-day moving average price of $14.16.

Maravai LifeSciences (NASDAQ:MRVI – Get Rating) last posted its quarterly earnings results on Monday, May 8th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $79.03 million for the quarter, compared to the consensus estimate of $79.72 million. Maravai LifeSciences had a net margin of 21.36% and a return on equity of 38.41%. Maravai LifeSciences’s revenue was down 67.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.54 earnings per share. Sell-side analysts forecast that Maravai LifeSciences Holdings, Inc. will post 0.3 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MRVI shares. Stifel Nicolaus lowered their price objective on Maravai LifeSciences from $18.00 to $17.00 in a research report on Tuesday, May 9th. The Goldman Sachs Group cut Maravai LifeSciences from a “buy” rating to a “neutral” rating in a report on Tuesday, May 9th. Royal Bank of Canada lowered their price target on Maravai LifeSciences from $22.00 to $20.00 in a report on Tuesday, May 9th. KeyCorp lowered their price target on Maravai LifeSciences from $28.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Maravai LifeSciences from $25.00 to $23.00 in a report on Tuesday, May 9th. Three 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, the company has an average rating of “Moderate Buy” and an average target price of $20.20.

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.