US Bancorp DE lifted its position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Free Report) by 69.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,009 shares of the company’s stock after purchasing an additional 2,472 shares during the period. US Bancorp DE’s holdings in Maravai LifeSciences were worth $84,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the company. Roubaix Capital LLC purchased a new stake in shares of Maravai LifeSciences in the first quarter valued at approximately $2,559,000. New York Life Investment Management LLC bought a new position in Maravai LifeSciences in the first quarter worth approximately $485,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Maravai LifeSciences by 7.3% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 18,634 shares of the company’s stock worth $261,000 after buying an additional 1,264 shares in the last quarter. Truist Financial Corp bought a new position in Maravai LifeSciences in the first quarter worth approximately $327,000. Finally, Barclays PLC raised its stake in Maravai LifeSciences by 578.9% in the first quarter. Barclays PLC now owns 38,736 shares of the company’s stock worth $543,000 after buying an additional 33,030 shares in the last quarter. Hedge funds and other institutional investors own 50.25% of the company’s stock.
Maravai LifeSciences Price Performance
NASDAQ MRVI opened at $10.30 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 9.33 and a quick ratio of 8.70. The stock’s fifty day moving average price is $11.50 and its 200 day moving average price is $13.10. Maravai LifeSciences Holdings, Inc. has a 1 year low of $9.20 and a 1 year high of $26.55. The company has a market cap of $2.59 billion, a price-to-earnings ratio of 18.07 and a beta of -0.26.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on MRVI shares. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Maravai LifeSciences from $23.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, August 8th. KeyCorp downgraded Maravai LifeSciences from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, August 8th. Credit Suisse Group reduced their price target on Maravai LifeSciences from $14.00 to $11.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 8th. Bank of America reduced their price target on Maravai LifeSciences from $15.00 to $12.00 in a research report on Tuesday, August 8th. Finally, Robert W. Baird reduced their price target on Maravai LifeSciences from $18.00 to $11.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 8th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Maravai LifeSciences presently has an average rating of “Hold” and a consensus target price of $14.10.
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 in the United States and internationally. 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.
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