Public Employees Retirement System of Ohio Reduces Position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Public Employees Retirement System of Ohio cut its position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 10.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,746 shares of the company’s stock after selling 4,957 shares during the period. Public Employees Retirement System of Ohio’s holdings in Maravai LifeSciences were worth $447,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Thrivent Financial for Lutherans boosted its stake in shares of Maravai LifeSciences by 1.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 8,305,132 shares of the company’s stock worth $103,233,000 after purchasing an additional 115,334 shares during the period. 12 West Capital Management LP boosted its stake in shares of Maravai LifeSciences by 92.2% during the 3rd quarter. 12 West Capital Management LP now owns 6,463,111 shares of the company’s stock worth $64,631,000 after purchasing an additional 3,101,275 shares during the period. BlackRock Inc. boosted its stake in shares of Maravai LifeSciences by 2.2% during the 1st quarter. BlackRock Inc. now owns 5,899,915 shares of the company’s stock worth $82,658,000 after purchasing an additional 126,007 shares during the period. Mackenzie Financial Corp lifted its holdings in Maravai LifeSciences by 39.0% during the 3rd quarter. Mackenzie Financial Corp now owns 4,930,841 shares of the company’s stock valued at $48,667,000 after buying an additional 1,384,455 shares in the last quarter. Finally, Braidwell LP lifted its holdings in Maravai LifeSciences by 120.3% during the 3rd quarter. Braidwell LP now owns 3,974,857 shares of the company’s stock valued at $39,749,000 after buying an additional 2,170,157 shares in the last quarter. 50.25% of the stock is owned by hedge funds and other institutional investors.

Maravai LifeSciences Trading Up 2.9 %

NASDAQ:MRVI opened at $8.58 on Thursday. Maravai LifeSciences Holdings, Inc. has a one year low of $4.52 and a one year high of $16.62. The company has a debt-to-equity ratio of 0.70, a quick ratio of 7.41 and a current ratio of 8.00. The firm has a market cap of $2.16 billion, a P/E ratio of -9.53 and a beta of -0.02. The firm has a 50-day simple moving average of $6.75 and a 200-day simple moving average of $6.93.

Maravai LifeSciences (NASDAQ:MRVI) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The business had revenue of $74.14 million during the quarter, compared to the consensus estimate of $62.99 million. Maravai LifeSciences had a negative net margin of 41.19% and a negative return on equity of 1.31%. Equities analysts anticipate that Maravai LifeSciences Holdings, Inc. will post -0.15 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MRVI shares. Bank of America upgraded shares of Maravai LifeSciences from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $10.00 to $8.00 in a report on Tuesday, December 12th. Royal Bank of Canada lifted their price objective on shares of Maravai LifeSciences from $12.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Finally, Stifel Nicolaus decreased their price objective on shares of Maravai LifeSciences from $11.00 to $10.00 and set a “buy” rating for the company in a report on Friday, February 23rd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.13.

Maravai LifeSciences 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 worldwide. 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.