Public Employees Retirement System of Ohio Takes Position in Maravai LifeSciences Holdings, Inc. $MRVI

Public Employees Retirement System of Ohio bought a new position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 116,678 shares of the company’s stock, valued at approximately $728,000.

Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new position in shares of Maravai LifeSciences in the 2nd quarter valued at about $2,230,000. Royal Bank of Canada grew its stake in shares of Maravai LifeSciences by 49.0% during the first quarter. Royal Bank of Canada now owns 9,761 shares of the company’s stock worth $27,000 after purchasing an additional 3,209 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Maravai LifeSciences by 0.9% in the first quarter. Renaissance Technologies LLC now owns 4,264,689 shares of the company’s stock valued at $12,069,000 after buying an additional 39,600 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Maravai LifeSciences by 64.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,418,597 shares of the company’s stock valued at $4,015,000 after buying an additional 558,050 shares during the last quarter. Finally, Brummer Multi Strategy AB raised its stake in Maravai LifeSciences by 66.0% in the first quarter. Brummer Multi Strategy AB now owns 759,743 shares of the company’s stock valued at $2,150,000 after buying an additional 302,036 shares in the last quarter. Hedge funds and other institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Stock Down 3.3%

MRVI stock opened at $6.95 on Thursday. The company has a fifty day moving average price of $6.83 and a 200 day moving average price of $5.01. Maravai LifeSciences Holdings, Inc. has a 12 month low of $2.55 and a 12 month high of $9.42. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.05 and a quick ratio of 2.98. The company has a market cap of $1.80 billion, a price-to-earnings ratio of -13.37 and a beta of 0.60.

Maravai LifeSciences (NASDAQ:MRVI) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $51.44 million for the quarter, compared to analyst estimates of $48.67 million. Sell-side analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

MRVI has been the subject of several analyst reports. UBS Group upped their price objective on Maravai LifeSciences from $2.50 to $8.00 and gave the stock a “neutral” rating in a research report on Wednesday. Wells Fargo & Company boosted their target price on Maravai LifeSciences from $5.50 to $6.50 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Wall Street Zen downgraded Maravai LifeSciences from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Maravai LifeSciences in a research report on Wednesday, August 26th. Two investment analysts have rated the stock with 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 presently has an average rating of “Hold” and a consensus target price of $6.83.

Maravai LifeSciences Profile

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.