Custom Index Systems LLC Purchases New Position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Custom Index Systems LLC acquired a new position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 11,686 shares of the company’s stock, valued at approximately $97,000.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of Maravai LifeSciences by 310.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock valued at $26,000 after purchasing an additional 2,711 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Maravai LifeSciences during the second quarter valued at $32,000. Headlands Technologies LLC bought a new stake in shares of Maravai LifeSciences during the 1st quarter valued at $42,000. Blue Trust Inc. purchased a new stake in shares of Maravai LifeSciences in the 2nd quarter worth about $44,000. Finally, Delap Wealth Advisory LLC bought a new position in shares of Maravai LifeSciences in the 1st quarter worth about $106,000. 50.25% of the stock is owned by institutional investors.

Maravai LifeSciences Trading Down 1.5 %

Shares of Maravai LifeSciences stock opened at $7.02 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 9.28 and a current ratio of 10.00. Maravai LifeSciences Holdings, Inc. has a fifty-two week low of $4.52 and a fifty-two week high of $11.56. The company has a fifty day moving average of $8.43 and a 200 day moving average of $8.54. The company has a market capitalization of $1.77 billion and a P/E ratio of -7.09.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter. The company had revenue of $73.40 million during the quarter, compared to the consensus estimate of $71.64 million. Maravai LifeSciences had a negative net margin of 47.41% and a negative return on equity of 4.78%. The business’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. On average, sell-side analysts anticipate that Maravai LifeSciences Holdings, Inc. will post -0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MRVI has been the topic of several research reports. The Goldman Sachs Group dropped their price objective on shares of Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 8th. Wells Fargo & Company started coverage on Maravai LifeSciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $10.00 price objective for the company. Morgan Stanley cut Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $11.00 to $10.00 in a research note on Tuesday, August 13th. UBS Group upped their target price on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $15.00 target price on shares of Maravai LifeSciences in a research report on Friday, August 16th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.67.

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 worldwide. 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.