Cannon Global Investment Management LLC Invests $590,000 in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

by · The Markets Daily

Cannon Global Investment Management LLC bought a new position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Free Report) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 71,000 shares of the company’s stock, valued at approximately $590,000. Maravai LifeSciences accounts for about 0.9% of Cannon Global Investment Management LLC’s investment portfolio, making the stock its 25th biggest holding.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Maravai LifeSciences by 310.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock worth $26,000 after purchasing an additional 2,711 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Maravai LifeSciences in the 2nd quarter worth $32,000. Headlands Technologies LLC bought a new stake in Maravai LifeSciences during the first quarter valued at about $42,000. Blue Trust Inc. bought a new stake in Maravai LifeSciences during the second quarter valued at about $44,000. Finally, Custom Index Systems LLC bought a new stake in Maravai LifeSciences during the third quarter valued at about $97,000. 50.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Royal Bank of Canada reissued an “outperform” rating and set a $15.00 price target on shares of Maravai LifeSciences in a report on Friday, August 16th. Wells Fargo & Company assumed coverage on Maravai LifeSciences in a report on Tuesday, August 27th. They set an “overweight” rating and a $10.00 price target on the stock. Morgan Stanley cut Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $11.00 to $10.00 in a report on Tuesday, August 13th. The Goldman Sachs Group reduced their target price on Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, October 8th. Finally, UBS Group lifted their target price on Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Maravai LifeSciences currently has an average rating of “Moderate Buy” and a consensus target price of $10.67.

Get Our Latest Report on Maravai LifeSciences

Maravai LifeSciences Trading Up 0.7 %

MRVI traded up $0.05 on Friday, hitting $7.46. The company had a trading volume of 972,294 shares, compared to its average volume of 1,251,616. The company has a market cap of $1.88 billion, a PE ratio of -7.54 and a beta of 0.02. Maravai LifeSciences Holdings, Inc. has a 12-month low of $4.52 and a 12-month high of $11.56. The company has a quick ratio of 9.28, a current ratio of 10.00 and a debt-to-equity ratio of 0.71. The business’s fifty day simple moving average is $8.27 and its 200 day simple moving average is $8.51.

Maravai LifeSciences (NASDAQ:MRVI – Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter. The company had revenue of $73.40 million during the quarter, compared to analysts’ expectations of $71.64 million. Maravai LifeSciences had a negative return on equity of 4.78% and a negative net margin of 47.41%. The company’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.06) EPS. Equities research analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.17 EPS for the current year.

Maravai LifeSciences Company Profile

(Free Report)

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.

Further Reading

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