Public Employees Retirement System of Ohio Invests $728,000 in Maravai LifeSciences Holdings, Inc. $MRVI

Public Employees Retirement System of Ohio acquired a new stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) in the 2nd quarter, Holdings Channel reports. The firm acquired 116,678 shares of the company’s stock, valued at approximately $728,000.

Several other institutional investors and hedge funds have also made changes to their positions in MRVI. Jane Street Group LLC grew its stake in Maravai LifeSciences by 1,463.1% in the 1st quarter. Jane Street Group LLC now owns 380,403 shares of the company’s stock valued at $841,000 after acquiring an additional 356,067 shares during the last quarter. Creative Planning raised its position in Maravai LifeSciences by 49.6% during the second quarter. Creative Planning now owns 116,031 shares of the company’s stock worth $280,000 after acquiring an additional 38,450 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Maravai LifeSciences by 20.3% in the second quarter. Rhumbline Advisers now owns 195,272 shares of the company’s stock valued at $471,000 after purchasing an additional 32,940 shares in the last quarter. Prudential Financial Inc. acquired a new stake in shares of Maravai LifeSciences in the second quarter valued at approximately $36,000. Finally, Invesco Ltd. increased its position in Maravai LifeSciences by 16.8% during the second quarter. Invesco Ltd. now owns 282,192 shares of the company’s stock worth $680,000 after buying an additional 40,495 shares in the last quarter. 50.25% of the stock is currently owned by hedge funds and other institutional investors.

Maravai LifeSciences Trading Down 3.3%

NASDAQ MRVI opened at $6.95 on Thursday. Maravai LifeSciences Holdings, Inc. has a one year low of $2.55 and a one year high of $9.42. The company’s 50 day moving average price is $6.83 and its 200 day moving average price is $5.01. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.98 and a current ratio of 4.05. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -13.37 and a beta of 0.60.

Maravai LifeSciences (NASDAQ:MRVI) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $51.44 million during the quarter, compared to the consensus estimate of $48.67 million. On average, sell-side analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.2 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MRVI shares. Wells Fargo & Company upped their target price on shares of Maravai LifeSciences from $5.50 to $6.50 and gave the company an “overweight” rating in a report on Friday, August 7th. Wall Street Zen lowered shares of Maravai LifeSciences from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. UBS Group lifted their price objective on Maravai LifeSciences from $2.50 to $8.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Maravai LifeSciences in a research report on Wednesday, August 26th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently 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.