Bleakley Financial Group LLC Boosts Stock Holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Bleakley Financial Group LLC boosted its stake in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 83.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,760 shares of the company’s stock after purchasing an additional 10,796 shares during the period. Bleakley Financial Group LLC’s holdings in Maravai LifeSciences were worth $156,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in shares of Maravai LifeSciences by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 416,617 shares of the company’s stock worth $14,694,000 after acquiring an additional 6,339 shares in the last quarter. Bank of Montreal Can increased its position in shares of Maravai LifeSciences by 13.6% in the first quarter. Bank of Montreal Can now owns 16,563 shares of the company’s stock worth $591,000 after acquiring an additional 1,986 shares in the last quarter. MetLife Investment Management LLC acquired a new stake in shares of Maravai LifeSciences in the first quarter worth $250,000. Dimensional Fund Advisors LP increased its position in shares of Maravai LifeSciences by 534.6% in the first quarter. Dimensional Fund Advisors LP now owns 117,159 shares of the company’s stock worth $4,133,000 after acquiring an additional 98,698 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of Maravai LifeSciences by 7.5% in the first quarter. Sei Investments Co. now owns 159,229 shares of the company’s stock worth $5,554,000 after acquiring an additional 11,079 shares in the last quarter. Hedge funds and other institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Price Performance

MRVI opened at $8.14 on Wednesday. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of -9.04 and a beta of 0.01. The company has a current ratio of 8.00, a quick ratio of 7.41 and a debt-to-equity ratio of 0.70. Maravai LifeSciences Holdings, Inc. has a twelve month low of $4.52 and a twelve month high of $16.62. The company has a fifty day simple moving average of $7.43 and a 200 day simple moving average of $6.75.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The company had revenue of $74.14 million for the quarter, compared to analyst estimates of $62.99 million. Maravai LifeSciences had a negative return on equity of 1.31% and a negative net margin of 41.19%. Equities research analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Craig Hallum assumed coverage on shares of Maravai LifeSciences in a research report on Wednesday, April 10th. They issued a “buy” rating and a $15.00 price objective for the company. Stifel Nicolaus dropped their price objective on shares of Maravai LifeSciences from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Finally, Royal Bank of Canada increased their price objective on shares of Maravai LifeSciences from $12.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.56.

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.