Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Stock Position Raised by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 15.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 4,550,503 shares of the company’s stock after buying an additional 598,530 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Maravai LifeSciences were worth $32,582,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MRVI. GAMMA Investing LLC increased its holdings 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. Headlands Technologies LLC purchased a new stake in Maravai LifeSciences in the 1st quarter worth approximately $42,000. Blue Trust Inc. acquired a new stake in shares of Maravai LifeSciences during the 2nd quarter valued at $44,000. Burgundy Asset Management Ltd. purchased a new position in shares of Maravai LifeSciences during the 4th quarter valued at $95,000. Finally, Delap Wealth Advisory LLC purchased a new position in shares of Maravai LifeSciences during the 1st quarter valued at $106,000. 50.25% of the stock is owned by institutional investors and hedge funds.

Maravai LifeSciences Trading Down 4.5 %

Shares of MRVI stock opened at $8.44 on Friday. The business’s 50 day moving average is $8.89 and its two-hundred day moving average is $8.56. The company has a quick ratio of 9.28, a current ratio of 10.00 and a debt-to-equity ratio of 0.71. Maravai LifeSciences Holdings, Inc. has a 12 month low of $4.52 and a 12 month high of $11.56. The company has a market cap of $2.13 billion, a PE ratio of -8.53 and a beta of 0.01.

Maravai LifeSciences (NASDAQ:MRVI) last posted its earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter. The firm had revenue of $73.40 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.06) earnings per share. Equities analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. The Goldman Sachs Group increased their price objective on Maravai LifeSciences from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Royal Bank of Canada reiterated 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 started coverage on Maravai LifeSciences in a report on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price objective on the stock. UBS Group lifted their target price on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Finally, Morgan Stanley lowered shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $11.00 to $10.00 in a research note on Tuesday, August 13th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.78.

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 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.