Thrivent Asset Management LLC has recently announced that it has increased stake in Maravai LifeSciences Holdings Inc (NASDAQ:MRVI) by 42.54%. After grabbing 11.84 million shares, the institutional investor is now in possession of 3.53 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 8.96% having worth around $60.38 million. Moreover, Millennium Management LLC increased its share by 2.71 million to have a control over 6.98 million shares. And 12 West Capital Management LP raised its holdings to 3.1 million shares by acquiring 6.46 million shares or 4.89% of the stake.
Maravai LifeSciences Holdings Inc (MRVI) concluded trading on 12/21/23 at a closing price of $6.68, with 2.04 million shares of worth about $13.65 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -48.89% during that period and on Thursday the price saw a gain of about 4.87%. Currently the company’s common shares owned by public are about 131.69M shares, out of which, 109.05M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 30 times over the past 12 months. They bought 643,955 shares in 22 of the transactions. In 8 selling transactions, insiders dumped 95,234 shares.
Mackenzie US Small-Mid Cap Growth, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Maravai LifeSciences Holdings Inc Mackenzie US Small-Mid Cap Growth is currently holding 3.58 million shares of worth totaling $18.26 million. The company recently came buying 0.19 million shares which brought its stake up to 2.71% of the company’s outstanding shares. Vanguard Total Stock Market ETF sold -0.21 million shares, after which its hold over company’s outstanding shares shrunk to 2.49%, leaving 3.29 million shares with the mutual fund that have a worth of about $16.78 million. Vanguard Small Cap Index Fund, after buying 2.71 million shares, have now control over 2.05% of the stake in the company. It holds 1320.0 shares of worth $13.83 million.
Maravai LifeSciences Holdings Inc (NASDAQ: MRVI) started trading at $6.44, above $0.07 from concluding price of the previous day. However, the stock later moved at a day high price of 6.91, or with a gain of 4.87%. Stock saw a price change of 7.05% in past 5 days and over the past one month there was a price change of 35.50%. Year-to-date (YTD), MRVI shares are showing a performance of -53.32% which decreased to -53.02% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $4.52 but also hit the highest price of $16.90 during that period. The average intraday trading volume for Maravai LifeSciences Holdings Inc shares is 2.62 million. The stock is currently trading 20.38% above its 20-day simple moving average (SMA20), while that difference is up 10.77% for SMA50 and it goes to -37.98% lower than SMA200.
Thrivent Asset Management LLC acquired 11.84 million shares of Maravai LifeSciences Holdings Inc having value of about $60.38 million. Data submitted at the U.S SEC by Thrivent Asset Management LLC revealed that the firm now holds 3.53 million shares in the company valued at close to $23602023.16, or have control over 42.54% stake in the company. Maravai LifeSciences Holdings Inc (NASDAQ: MRVI) currently have 131.69M outstanding shares and institutions hold larger chunk of about 88.36% of that. Holding of mutual funds in the company is about 43.08% while other institutional holders and individual stake holders have control over 45.48% and 17.51% of the stake respectively.
The stock has a current market capitalization of $883.03M and its 3Y-monthly beta is at -0.25. PE ratio of stock for trailing 12 months is 36.93, while it has posted earnings per share of $0.18 in the same period. It has Quick Ratio of 8.33 while making debt-to-equity ratio of 1.18. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for MRVI, volatility over the week remained 4.97% while standing at 5.89% over the month.
Analysts are in expectations that Maravai LifeSciences Holdings Inc (MRVI) stock would likely to be making an EPS of -$0.01 in the current quarter, while forecast for next quarter EPS is $0 and it is $0.05 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.02 which is $0 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.35 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -99.82% while it is estimated to increase by 1494.90% in next year.
Analysts at 11 brokerage firms have issued recommendations for the Maravai LifeSciences Holdings Inc (MRVI)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.64. Out of those 11 Wall Street analysts, 7 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BofA Securities on December 12, 2023 offering a Buy rating for the stock and assigned a target price range of between $10 and $8 to it.
