Healthcare of Ontario Pension Plan Trust Fund Buys New Shares in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Posted by Defense World Staff on Mar 2nd, 2023

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Get Rating) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,287 shares of the company’s stock, valued at approximately $416,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its stake in shares of Maravai LifeSciences by 11.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 14,150,891 shares of the company’s stock valued at $361,273,000 after buying an additional 1,459,720 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Maravai LifeSciences by 4.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,530,561 shares of the company’s stock valued at $100,303,000 after purchasing an additional 135,961 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in Maravai LifeSciences by 11.4% during the 2nd quarter. Clearbridge Investments LLC now owns 2,707,875 shares of the company’s stock valued at $76,931,000 after purchasing an additional 277,260 shares during the last quarter. Artemis Investment Management LLP lifted its holdings in Maravai LifeSciences by 10.8% during the 3rd quarter. Artemis Investment Management LLP now owns 2,476,728 shares of the company’s stock valued at $63,262,000 after purchasing an additional 242,162 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Maravai LifeSciences by 105.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,875,000 shares of the company’s stock valued at $53,269,000 after purchasing an additional 961,800 shares during the last quarter. 48.67% of the stock is owned by institutional investors.

Maravai LifeSciences Stock Up 1.5 %

Shares of NASDAQ MRVI opened at $14.97 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 6.68 and a current ratio of 7.22. Maravai LifeSciences Holdings, Inc. has a 52 week low of $12.16 and a 52 week high of $41.82. The stock has a market capitalization of $3.82 billion, a P/E ratio of 9.07 and a beta of -0.22. The stock’s fifty day moving average is $14.20 and its 200 day moving average is $17.18.

Maravai LifeSciences (NASDAQ:MRVI – Get Rating) last issued its quarterly earnings results on Wednesday, February 22nd. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Maravai LifeSciences had a return on equity of 60.73% and a net margin of 24.94%. The company had revenue of $204.70 million for the quarter, compared to analysts’ expectations of $204.95 million. During the same quarter last year, the business earned $0.45 earnings per share. Maravai LifeSciences’s revenue was down 10.4% on a year-over-year basis. Sell-side analysts forecast that Maravai LifeSciences Holdings, Inc. will post 0.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MRVI shares. UBS Group downgraded Maravai LifeSciences from a “buy” rating to a “neutral” rating and cut their price target for the company from $20.00 to $16.00 in a report on Thursday, January 5th. The Goldman Sachs Group dropped their target price on Maravai LifeSciences from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, January 17th. Deutsche Bank Aktiengesellschaft began coverage on Maravai LifeSciences in a report on Tuesday, December 13th. They set a “buy” rating and a $25.00 target price for the company. Bank of America downgraded Maravai LifeSciences from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $32.00 to $17.00 in a report on Thursday, November 3rd. Finally, Royal Bank of Canada began coverage on Maravai LifeSciences in a report on Tuesday, December 6th. They set an “outperform” rating and a $22.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.56.

About Maravai LifeSciences

(Get Rating)

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.