Bank of New York Mellon Corp bought a new stake in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 357,349 shares of the company's stock, valued at approximately $2,230,000. Bank of New York Mellon Corp owned about 0.14% of Maravai LifeSciences at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. Royal Bank of Canada lifted its position in shares of Maravai LifeSciences by 49.0% in the first quarter. Royal Bank of Canada now owns 9,761 shares of the company's stock valued at $27,000 after acquiring an additional 3,209 shares in the last quarter. Barclays PLC grew its position in shares of Maravai LifeSciences by 3.0% during the fourth quarter. Barclays PLC now owns 172,281 shares of the company's stock worth $560,000 after purchasing an additional 5,057 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Maravai LifeSciences by 12.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 46,528 shares of the company's stock valued at $112,000 after purchasing an additional 5,160 shares during the period. Tower Research Capital LLC TRC raised its stake in Maravai LifeSciences by 121.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 18,021 shares of the company's stock valued at $43,000 after purchasing an additional 9,870 shares during the period. Finally, Virtu Financial LLC purchased a new position in Maravai LifeSciences in the 4th quarter worth approximately $34,000. Institutional investors own 50.25% of the company's stock.
Analyst Ratings Changes
A number of brokerages have issued reports on MRVI. Wells Fargo & Company increased their price objective on shares of Maravai LifeSciences from $5.50 to $6.50 and gave the company an "overweight" rating in a report on Friday, August 7th. Wall Street Zen downgraded shares of Maravai LifeSciences from a "buy" rating to a "hold" rating in a report on Saturday, August 29th. UBS Group restated a "reduce" rating on shares of Maravai LifeSciences in a research report on Wednesday, June 3rd. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Maravai LifeSciences in a research note on Wednesday, August 26th. Two investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $6.25.
View Our Latest Stock Report on MRVI
Maravai LifeSciences Price Performance
Maravai LifeSciences stock opened at $7.32 on Tuesday. The firm has a 50-day moving average price of $6.80 and a 200-day moving average price of $4.96. The firm has a market capitalization of $1.90 billion, a PE ratio of -14.08 and a beta of 0.60. The company has a current ratio of 4.05, a quick ratio of 2.98 and a debt-to-equity ratio of 0.49. Maravai LifeSciences Holdings, Inc. has a 12-month low of $2.37 and a 12-month high of $9.42.
Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.02. Maravai LifeSciences had a negative net margin of 37.07% and a negative return on equity of 15.70%. The company had revenue of $51.44 million for the quarter, compared to the consensus estimate of $48.67 million. As a group, equities research analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.2 EPS for the current year.
Maravai LifeSciences Profile
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Free Report)
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.
Further Reading
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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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