Bleakley Financial Group LLC Acquires 8,863 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Bleakley Financial Group LLC raised its holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 38.3% during the third quarter, Holdings Channel.com reports. The fund owned 32,034 shares of the company’s stock after purchasing an additional 8,863 shares during the period. Bleakley Financial Group LLC’s holdings in Maravai LifeSciences were worth $266,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MRVI. QRG Capital Management Inc. increased its holdings in Maravai LifeSciences by 11.7% in the first quarter. QRG Capital Management Inc. now owns 17,143 shares of the company’s stock valued at $149,000 after purchasing an additional 1,796 shares during the last quarter. Creative Planning raised its position in shares of Maravai LifeSciences by 4.4% during the third quarter. Creative Planning now owns 44,943 shares of the company’s stock worth $373,000 after purchasing an additional 1,881 shares during the period. GAMMA Investing LLC increased its position 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 acquiring an additional 2,711 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Maravai LifeSciences by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 73,595 shares of the company’s stock worth $639,000 after purchasing an additional 3,575 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Maravai LifeSciences during the second quarter worth about $32,000. Institutional investors and hedge funds own 50.25% of the company’s stock.

Analyst Upgrades and Downgrades

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

Maravai LifeSciences Price Performance

NASDAQ:MRVI opened at $7.37 on Thursday. The company has a market cap of $1.86 billion and a P/E ratio of -7.42. The firm’s fifty day moving average price is $8.52 and its two-hundred day moving average price is $8.57. Maravai LifeSciences Holdings, Inc. has a one year low of $4.52 and a one year high of $11.56. 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 (NASDAQ:MRVI) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter. The company had revenue of $73.40 million during the quarter, compared to analyst estimates of $71.64 million. Maravai LifeSciences had a negative net margin of 47.41% and a negative return on equity of 4.78%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.06) EPS. Equities analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.17 earnings per share 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.