Principal Financial Group Inc. lifted its holdings in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 24.8% during the third quarter, Holdings Channel.com reports. The fund owned 615,341 shares of the company’s stock after acquiring an additional 122,409 shares during the period. Principal Financial Group Inc.’s holdings in Maravai LifeSciences were worth $30,201,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Parkside Financial Bank & Trust grew its stake in shares of Maravai LifeSciences by 171.9% during the third quarter. Parkside Financial Bank & Trust now owns 1,153 shares of the company’s stock worth $57,000 after acquiring an additional 729 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Maravai LifeSciences during the second quarter worth about $110,000. AGF Investments LLC purchased a new stake in shares of Maravai LifeSciences during the second quarter worth about $118,000. Nisa Investment Advisors LLC acquired a new stake in shares of Maravai LifeSciences during the third quarter worth about $210,000. Finally, Alpha Paradigm Partners LLC acquired a new stake in shares of Maravai LifeSciences during the second quarter worth about $198,000. Institutional investors and hedge funds own 50.31% of the company’s stock.
Separately, Zacks Investment Research downgraded Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 5th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $54.80.
Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings results on Wednesday, November 10th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.09. Maravai LifeSciences had a return on equity of 109.36% and a net margin of 22.69%. The company had revenue of $204.81 million during the quarter, compared to the consensus estimate of $199.68 million. Equities research analysts predict that Maravai LifeSciences Holdings, Inc. will post 1.51 earnings per share for the current fiscal year.
Maravai LifeSciences Profile
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.
Featured Article: Beige Book
Want to see what other hedge funds are holding MRVI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI).
Receive News & Ratings for Maravai LifeSciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Maravai LifeSciences and related companies with MarketBeat.com's FREE daily email newsletter.