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

Blue Trust Inc. grew its stake in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 181.1% during the third quarter, Holdings Channel reports. The institutional investor owned 17,409 shares of the company’s stock after purchasing an additional 11,215 shares during the quarter. Blue Trust Inc.’s holdings in Maravai LifeSciences were worth $145,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MRVI. GAMMA Investing LLC boosted its holdings in shares of Maravai LifeSciences by 310.2% during the second quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock worth $26,000 after purchasing an additional 2,711 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Maravai LifeSciences during the second quarter worth about $32,000. Headlands Technologies LLC purchased a new stake in shares of Maravai LifeSciences during the first quarter worth about $42,000. Delap Wealth Advisory LLC purchased a new stake in shares of Maravai LifeSciences during the first quarter worth about $106,000. Finally, Quent Capital LLC boosted its holdings in shares of Maravai LifeSciences by 26,315.8% during the first quarter. Quent Capital LLC now owns 15,057 shares of the company’s stock worth $131,000 after purchasing an additional 15,000 shares during the period. 50.25% of the stock is currently owned by hedge funds and other institutional investors.

Maravai LifeSciences Price Performance

Shares of MRVI opened at $7.02 on Monday. The company has a market capitalization of $1.77 billion and a P/E ratio of -7.09. 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 50 day moving average of $8.43 and a 200 day moving average of $8.54. Maravai LifeSciences Holdings, Inc. has a twelve month low of $4.52 and a twelve month high of $11.56.

Maravai LifeSciences (NASDAQ:MRVI) last posted its earnings results on Wednesday, August 7th. The company reported ($0.08) EPS 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 the consensus estimate of $71.64 million. During the same period last year, the firm posted ($0.06) EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities research analysts anticipate that Maravai LifeSciences Holdings, Inc. will post -0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

About Maravai LifeSciences

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.