Harbor Capital Advisors Inc. Takes Position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Posted by Defense World Staff on Sep 23rd, 2023

Harbor Capital Advisors Inc. purchased a new stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,807 shares of the company’s stock, valued at approximately $47,000.

Several other large investors have also modified their holdings of MRVI. Zions Bancorporation N.A. purchased a new position in shares of Maravai LifeSciences during the first quarter valued at approximately $28,000. Meeder Asset Management Inc. purchased a new position in shares of Maravai LifeSciences during the first quarter valued at approximately $31,000. Jefferies Financial Group Inc. purchased a new position in Maravai LifeSciences during the fourth quarter worth approximately $45,000. Lazard Asset Management LLC raised its stake in Maravai LifeSciences by 8,207.5% during the fourth quarter. Lazard Asset Management LLC now owns 3,323 shares of the company’s stock worth $47,000 after purchasing an additional 3,283 shares during the period. Finally, Signaturefd LLC raised its stake in Maravai LifeSciences by 144.5% during the first quarter. Signaturefd LLC now owns 4,797 shares of the company’s stock worth $67,000 after purchasing an additional 2,835 shares during the period. 50.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MRVI has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their price target on shares of Maravai LifeSciences from $17.00 to $12.00 in a research note on Tuesday, August 8th. The Goldman Sachs Group cut their price target on shares of Maravai LifeSciences from $12.00 to $8.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 8th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Maravai LifeSciences from $23.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, August 8th. KeyCorp downgraded shares of Maravai LifeSciences from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, August 8th. Finally, Robert W. Baird cut their target price on shares of Maravai LifeSciences from $18.00 to $11.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 8th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $14.10.

View Our Latest Analysis on Maravai LifeSciences

Maravai LifeSciences Price Performance

MRVI opened at $9.60 on Friday. The company has a fifty day simple moving average of $10.86 and a 200 day simple moving average of $12.62. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 16.84 and a beta of -0.23. Maravai LifeSciences Holdings, Inc. has a twelve month low of $9.20 and a twelve month high of $26.55. The company has a current ratio of 9.33, a quick ratio of 8.70 and a debt-to-equity ratio of 0.62.

Maravai LifeSciences (NASDAQ:MRVI – Get Free Report) last released its quarterly earnings results on Monday, August 7th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). The firm had revenue of $68.91 million for the quarter, compared to analyst estimates of $70.30 million. Maravai LifeSciences had a net margin of 13.88% and a return on equity of 20.67%. Equities research analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.06 EPS for the current fiscal year.

Maravai LifeSciences Profile

(Free Report)

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.