Blue Trust Inc. Acquires 11,215 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Blue Trust Inc. grew its holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 181.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 17,409 shares of the company’s stock after purchasing an additional 11,215 shares during the period. Blue Trust Inc.’s holdings in Maravai LifeSciences were worth $145,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MRVI. Norden Group LLC bought a new stake in Maravai LifeSciences during the 1st quarter worth $290,000. Principal Financial Group Inc. lifted its holdings in Maravai LifeSciences by 3,349.6% during the 1st quarter. Principal Financial Group Inc. now owns 410,197 shares of the company’s stock worth $3,556,000 after buying an additional 398,306 shares during the period. Quent Capital LLC lifted its holdings in Maravai LifeSciences by 26,315.8% during the 1st quarter. Quent Capital LLC now owns 15,057 shares of the company’s stock worth $131,000 after buying an additional 15,000 shares during the period. Jennison Associates LLC acquired a new position in shares of Maravai LifeSciences in the 1st quarter valued at about $3,415,000. Finally, 12 West Capital Management LP lifted its stake in shares of Maravai LifeSciences by 13.8% in the 1st quarter. 12 West Capital Management LP now owns 13,202,988 shares of the company’s stock valued at $114,470,000 after purchasing an additional 1,600,000 shares during the period. Institutional investors own 50.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MRVI shares. Morgan Stanley lowered Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $11.00 to $10.00 in a research report on Tuesday, August 13th. The Goldman Sachs Group decreased their price objective on Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, October 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $15.00 target price on shares of Maravai LifeSciences in a report on Friday, August 16th. Wells Fargo & Company began coverage on Maravai LifeSciences in a report on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 target price for the company. Finally, UBS Group upped their price objective on Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $10.67.

Maravai LifeSciences Trading Down 1.5 %

NASDAQ:MRVI opened at $7.02 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 10.00 and a quick ratio of 9.28. Maravai LifeSciences Holdings, Inc. has a 1 year low of $4.52 and a 1 year high of $11.56. The company has a market cap of $1.77 billion and a P/E ratio of -7.09. The stock’s fifty day moving average price is $8.43 and its two-hundred day moving average price is $8.54.

Maravai LifeSciences (NASDAQ:MRVI) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter. The business had revenue of $73.40 million during the quarter, compared to analysts’ expectations of $71.64 million. Maravai LifeSciences had a negative return on equity of 4.78% and a negative net margin of 47.41%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.06) EPS. As a group, analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.17 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 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.