Epoch Investment Partners Inc. Decreases Stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Epoch Investment Partners Inc. lessened its holdings in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 63.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 101,308 shares of the company’s stock after selling 178,124 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Maravai LifeSciences were worth $725,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. 12 West Capital Management LP increased its position in shares of Maravai LifeSciences by 13.8% in the first quarter. 12 West Capital Management LP now owns 13,202,988 shares of the company’s stock worth $114,470,000 after acquiring an additional 1,600,000 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Maravai LifeSciences by 0.3% during the first quarter. Vanguard Group Inc. now owns 10,038,126 shares of the company’s stock worth $87,031,000 after purchasing an additional 34,232 shares in the last quarter. Braidwell LP boosted its position in shares of Maravai LifeSciences by 26.8% in the fourth quarter. Braidwell LP now owns 5,040,635 shares of the company’s stock worth $33,016,000 after buying an additional 1,065,778 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Maravai LifeSciences by 15.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,550,503 shares of the company’s stock worth $32,582,000 after acquiring an additional 598,530 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of Maravai LifeSciences by 20.8% in the second quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock valued at $27,791,000 after purchasing an additional 668,552 shares during the period. Hedge funds and other institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Stock Performance

MRVI opened at $8.30 on Tuesday. The company has a quick ratio of 9.28, a current ratio of 10.00 and a debt-to-equity ratio of 0.71. The firm has a market cap of $2.09 billion, a PE ratio of -8.38 and a beta of 0.01. The business has a fifty day simple moving average of $8.89 and a 200-day simple moving average of $8.58. Maravai LifeSciences Holdings, Inc. has a fifty-two week low of $4.52 and a fifty-two week high of $11.56.

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

Analyst Ratings Changes

A number of analysts have recently issued reports on MRVI shares. Wells Fargo & Company began coverage on Maravai LifeSciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $10.00 target price on the stock. Morgan Stanley lowered shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $11.00 to $10.00 in a research note on Tuesday, August 13th. The Goldman Sachs Group upped their price objective on Maravai LifeSciences from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. UBS Group increased their target price on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $15.00 price target on shares of Maravai LifeSciences in a report on Friday, August 16th. Three 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.78.

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.