State of Wyoming Sells 63,815 Shares of Maravai LifeSciences Holdings, Inc. $MRVI

State of Wyoming lowered its position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 79.5% during the third quarter, HoldingsChannel.com reports. The fund owned 16,447 shares of the company’s stock after selling 63,815 shares during the quarter. State of Wyoming’s holdings in Maravai LifeSciences were worth $126,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MRVI. Renaissance Technologies LLC grew its holdings in Maravai LifeSciences by 0.9% during the 1st quarter. Renaissance Technologies LLC now owns 4,264,689 shares of the company’s stock worth $12,069,000 after acquiring an additional 39,600 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Maravai LifeSciences by 64.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,418,597 shares of the company’s stock worth $4,015,000 after acquiring an additional 558,050 shares in the last quarter. Brummer Multi Strategy AB lifted its stake in shares of Maravai LifeSciences by 66.0% in the 1st quarter. Brummer Multi Strategy AB now owns 759,743 shares of the company’s stock valued at $2,150,000 after purchasing an additional 302,036 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Maravai LifeSciences in the 2nd quarter valued at about $2,230,000. Finally, Headlands Technologies LLC acquired a new position in shares of Maravai LifeSciences in the 2nd quarter valued at about $1,038,000. 50.25% of the stock is currently owned by institutional investors and hedge funds.

Maravai LifeSciences Trading Down 2.0%

MRVI opened at $7.86 on Wednesday. Maravai LifeSciences Holdings, Inc. has a 1-year low of $2.80 and a 1-year high of $9.42. The company has a current ratio of 4.66, a quick ratio of 2.98 and a debt-to-equity ratio of 0.51. The company has a market cap of $2.04 billion, a P/E ratio of -18.28 and a beta of 0.61. The company has a fifty day moving average price of $7.38 and a two-hundred day moving average price of $5.37.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings data on Wednesday, November 4th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.03. Maravai LifeSciences had a negative net margin of 30.83% and a negative return on equity of 12.44%. The firm had revenue of $45.85 million for the quarter, compared to analyst estimates of $43.56 million. Analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MRVI. UBS Group upped their target price on Maravai LifeSciences from $2.50 to $8.00 and gave the company a “neutral” rating in a research report on Wednesday, September 9th. Wells Fargo & Company lifted their target price on Maravai LifeSciences from $5.50 to $6.50 and gave the stock an “overweight” rating in a report on Friday, August 7th. TD Cowen started coverage on Maravai LifeSciences in a research note on Monday, October 5th. They issued a “buy” rating and a $9.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Maravai LifeSciences in a report on Wednesday, August 26th. Finally, Wall Street Zen upgraded Maravai LifeSciences from a “hold” rating to a “buy” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Maravai LifeSciences has an average rating of “Moderate Buy” and a consensus price target of $7.38.

About Maravai LifeSciences

Maravai LifeSciences provides products and services used by biotechnology and pharmaceutical companies in the development and production of therapeutics, vaccines, and other biologic products. Its offerings include specialized nucleic acid materials and analytical testing services that support research, manufacturing, and quality control. Through TriLink BioTechnologies, the company supplies modified nucleotides, custom RNA and DNA, and related materials used in applications such as messenger RNA research and production.