Public Employees Retirement System of Ohio Invests $238,000 in Maravai LifeSciences Holdings, Inc. $MRVI

Public Employees Retirement System of Ohio purchased a new position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 84,178 shares of the company’s stock, valued at approximately $238,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MRVI. Dimensional Fund Advisors LP raised its holdings in Maravai LifeSciences by 64.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,418,597 shares of the company’s stock valued at $4,015,000 after acquiring an additional 558,050 shares during the last quarter. Brummer Multi Strategy AB grew its position in shares of 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 purchasing an additional 302,036 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Maravai LifeSciences by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 343,643 shares of the company’s stock valued at $973,000 after purchasing an additional 8,955 shares in the last quarter. General American Investors Co. Inc. increased its holdings in shares of Maravai LifeSciences by 8.3% in the first quarter. General American Investors Co. Inc. now owns 1,716,193 shares of the company’s stock valued at $4,857,000 after purchasing an additional 130,877 shares during the last quarter. Finally, R Squared Ltd increased its holdings in shares of Maravai LifeSciences by 76.0% in the first quarter. R Squared Ltd now owns 27,394 shares of the company’s stock valued at $78,000 after purchasing an additional 11,827 shares during the last quarter. 50.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Maravai LifeSciences

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $5.06, for a total value of $126,500.00. Following the transaction, the general counsel directly owned 360,767 shares in the company, valued at approximately $1,825,481.02. This represents a 6.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.49% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MRVI. Wells Fargo & Company upped their target price on Maravai LifeSciences from $4.50 to $5.50 and gave the company an “overweight” rating in a report on Friday, May 8th. Weiss Ratings upgraded Maravai LifeSciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $6.00 price target on shares of Maravai LifeSciences in a research report on Friday, May 8th. Wall Street Zen cut shares of Maravai LifeSciences from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, UBS Group reaffirmed a “reduce” rating on shares of Maravai LifeSciences in a research note on Wednesday, June 3rd. Three investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.50.

Maravai LifeSciences Stock Down 0.3%

Shares of MRVI opened at $6.41 on Thursday. The firm has a market cap of $1.65 billion, a P/E ratio of -9.03 and a beta of 0.63. Maravai LifeSciences Holdings, Inc. has a 12-month low of $1.99 and a 12-month high of $7.44. The company’s 50-day moving average price is $5.92 and its 200 day moving average price is $4.35. The company has a current ratio of 5.91, a quick ratio of 4.96 and a debt-to-equity ratio of 0.72.

Maravai LifeSciences (NASDAQ:MRVI) last announced its earnings results on Thursday, May 7th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.06. Maravai LifeSciences had a negative net margin of 51.07% and a negative return on equity of 17.87%. The company had revenue of $65.84 million during the quarter, compared to analyst estimates of $53.00 million. On average, sell-side analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.2 earnings per share for the current year.

Maravai LifeSciences Company 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.