American International Group Inc. acquired a new stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,310 shares of the company’s stock, valued at approximately $47,000.
Several other hedge funds have also recently bought and sold shares of MRVI. Victory Capital Management Inc. acquired a new stake in shares of Maravai LifeSciences in the fourth quarter valued at approximately $2,946,000. CIBC Asset Management Inc acquired a new stake in shares of Maravai LifeSciences in the fourth quarter valued at approximately $230,000. SG Americas Securities LLC acquired a new stake in shares of Maravai LifeSciences in the fourth quarter valued at approximately $673,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Maravai LifeSciences in the fourth quarter valued at approximately $517,000. Finally, BlackRock Inc. acquired a new stake in shares of Maravai LifeSciences during the fourth quarter worth $60,886,000. 38.18% of the stock is owned by institutional investors and hedge funds.
Shares of MRVI stock opened at $44.00 on Wednesday. Maravai LifeSciences Holdings, Inc. has a fifty-two week low of $23.62 and a fifty-two week high of $45.79. The stock has a market capitalization of $11.34 billion and a PE ratio of 25.88. The firm has a fifty day moving average price of $37.97. The company has a current ratio of 2.58, a quick ratio of 2.29 and a debt-to-equity ratio of 2.78.
Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings results on Monday, May 10th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.07. The firm had revenue of $148.20 million during the quarter, compared to analysts’ expectations of $135.36 million. The business’s quarterly revenue was up 191.2% compared to the same quarter last year. Analysts forecast that Maravai LifeSciences Holdings, Inc. will post 1.13 EPS for the current year.
Several equities research analysts recently weighed in on MRVI shares. Credit Suisse Group increased their price target on Maravai LifeSciences from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, May 11th. Zacks Investment Research raised Maravai LifeSciences from a “sell” rating to a “hold” rating and set a $41.00 price target for the company in a report on Thursday, May 13th. Morgan Stanley increased their price target on Maravai LifeSciences from $35.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, March 3rd. Finally, KeyCorp increased their price objective on Maravai LifeSciences from $39.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 3rd. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $38.67.
About Maravai LifeSciences
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.
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