Public Employees Retirement System of Ohio Buys New Position in Maravai LifeSciences Holdings, Inc. $MRVI

Public Employees Retirement System of Ohio bought a new stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 84,178 shares of the company’s stock, valued at approximately $238,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. boosted its stake in shares of Maravai LifeSciences by 2.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,336,680 shares of the company’s stock valued at $20,595,000 after purchasing an additional 178,445 shares during the period. Mackenzie Financial Corp grew its holdings in shares of Maravai LifeSciences by 1.7% in the fourth quarter. Mackenzie Financial Corp now owns 6,173,656 shares of the company’s stock valued at $20,148,000 after purchasing an additional 104,355 shares in the last quarter. Tejara Capital Ltd increased its stake in Maravai LifeSciences by 23.1% during the 4th quarter. Tejara Capital Ltd now owns 3,020,209 shares of the company’s stock worth $9,816,000 after buying an additional 566,768 shares during the period. Geode Capital Management LLC increased its stake in Maravai LifeSciences by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,848,105 shares of the company’s stock worth $9,259,000 after buying an additional 34,447 shares during the period. Finally, State Street Corp lifted its holdings in Maravai LifeSciences by 1.1% during the 4th quarter. State Street Corp now owns 2,414,249 shares of the company’s stock worth $7,846,000 after buying an additional 27,219 shares in the last quarter. 50.25% of the stock is currently owned by hedge funds and other institutional investors.

Maravai LifeSciences Stock Performance

Shares of MRVI stock opened at $6.41 on Thursday. The company has a current ratio of 5.91, a quick ratio of 4.96 and a debt-to-equity ratio of 0.72. The firm has a fifty day moving average price of $5.92 and a 200 day moving average price of $4.35. The company has a market cap of $1.65 billion, a P/E ratio of -9.03 and a beta of 0.63. Maravai LifeSciences Holdings, Inc. has a 12 month low of $1.99 and a 12 month high of $7.44.

Maravai LifeSciences (NASDAQ:MRVI) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.06. The company had revenue of $65.84 million for the quarter, compared to analysts’ expectations of $53.00 million. Maravai LifeSciences had a negative return on equity of 17.87% and a negative net margin of 51.07%. Sell-side analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $6.00 price target on shares of Maravai LifeSciences in a research report on Friday, May 8th. Wells Fargo & Company upped their price objective on Maravai LifeSciences from $4.50 to $5.50 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Weiss Ratings upgraded Maravai LifeSciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 29th. UBS Group reissued a “reduce” rating on shares of Maravai LifeSciences in a research note on Wednesday, June 3rd. Finally, Wall Street Zen cut Maravai LifeSciences from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Three analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Maravai LifeSciences has a consensus rating of “Hold” and a consensus target price of $5.50.

Insider Activity

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $5.06, for a total value of $126,500.00. Following the transaction, the general counsel owned 360,767 shares in the company, valued at approximately $1,825,481.02. This represents a 6.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.49% of the company’s stock.

Maravai LifeSciences Profile

Maravai LifeSciences Holdings, Inc (NASDAQ: MRVI) is a life sciences company specializing in the development and supply of critical reagents and services for the development and manufacture of biologic therapies. The company’s offerings support a range of applications in genomics, molecular diagnostics, vaccine development and next-generation sequencing. Maravai’s platforms address key challenges in nucleic acid production, protein detection, epigenetic analysis and reagent quality across the biopharmaceutical industry.

Through its product portfolio, which includes proprietary mRNA capping reagents, lipid nanoparticle delivery systems, synthetic oligonucleotides and high-precision assay kits, Maravai enables customers to accelerate research and streamline manufacturing workflows.