Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Get Rating) by 128.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,370 shares of the company’s stock after acquiring an additional 9,765 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Maravai LifeSciences were worth $238,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the business. Massachusetts Financial Services Co. MA increased its holdings 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 worth $361,273,000 after acquiring an additional 1,459,720 shares in the last quarter. Thrivent Financial for Lutherans bought a new stake in shares of Maravai LifeSciences in the third quarter worth about $65,350,000. Marshall Wace LLP increased its holdings in shares of Maravai LifeSciences by 285.8% in the third quarter. Marshall Wace LLP now owns 2,077,036 shares of the company’s stock worth $53,030,000 after acquiring an additional 1,538,680 shares in the last quarter. State Street Corp increased its holdings in shares of Maravai LifeSciences by 12.5% in the first quarter. State Street Corp now owns 1,810,317 shares of the company’s stock worth $63,850,000 after acquiring an additional 201,284 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Maravai LifeSciences by 150.3% in the fourth quarter. Pacer Advisors Inc. now owns 1,651,901 shares of the company’s stock worth $23,639,000 after acquiring an additional 991,860 shares in the last quarter. 48.67% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
MRVI has been the subject of several recent analyst reports. Stifel Nicolaus lowered their price target on Maravai LifeSciences from $18.00 to $17.00 in a report on Tuesday. The Goldman Sachs Group downgraded Maravai LifeSciences from a “buy” rating to a “neutral” rating in a report on Tuesday. Credit Suisse Group decreased their price objective on Maravai LifeSciences from $23.00 to $18.00 in a report on Tuesday. Deutsche Bank Aktiengesellschaft decreased their price objective on Maravai LifeSciences from $25.00 to $23.00 in a report on Tuesday. Finally, Robert W. Baird decreased their price objective on Maravai LifeSciences from $25.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, February 23rd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.20.
Maravai LifeSciences Stock Down 13.0 %
Maravai LifeSciences (NASDAQ:MRVI – Get Rating) last posted its quarterly earnings results on Monday, May 8th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Maravai LifeSciences had a net margin of 24.94% and a return on equity of 57.88%. The company had revenue of $79.03 million during the quarter, compared to the consensus estimate of $79.72 million. During the same quarter in the prior year, the business earned $0.54 earnings per share. The firm’s revenue for the quarter was down 67.7% compared to the same quarter last year. Analysts anticipate that Maravai LifeSciences Holdings, Inc. will post 0.35 EPS for the current fiscal year.
About Maravai LifeSciences
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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