Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Shares Acquired by Point72 Europe London LLP

Point72 Europe London LLP increased its position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 12.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,468,465 shares of the company’s stock after purchasing an additional 268,122 shares during the period. Maravai LifeSciences makes up approximately 1.5% of Point72 Europe London LLP’s portfolio, making the stock its 15th largest position. Point72 Europe London LLP’s holdings in Maravai LifeSciences were worth $17,674,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in shares of Maravai LifeSciences by 30.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 506,413 shares of the company’s stock worth $3,626,000 after buying an additional 117,120 shares in the last quarter. Jump Financial LLC purchased a new position in Maravai LifeSciences in the fourth quarter worth $225,000. Principal Financial Group Inc. lifted its holdings in Maravai LifeSciences by 3,349.6% in the first quarter. Principal Financial Group Inc. now owns 410,197 shares of the company’s stock valued at $3,556,000 after acquiring an additional 398,306 shares during the period. Jennison Associates LLC purchased a new stake in shares of Maravai LifeSciences during the 1st quarter worth $3,415,000. Finally, Bamco Inc. NY grew its stake in shares of Maravai LifeSciences by 43.1% during the 1st quarter. Bamco Inc. NY now owns 2,123,651 shares of the company’s stock worth $18,412,000 after purchasing an additional 640,000 shares during the period. Institutional investors and hedge funds own 50.25% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on MRVI shares. Morgan Stanley cut shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $11.00 to $10.00 in a research note on Tuesday, August 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $15.00 price target on shares of Maravai LifeSciences in a research report on Friday, August 16th. Wells Fargo & Company initiated coverage on Maravai LifeSciences in a report on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price target on the stock. The Goldman Sachs Group lifted 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. Finally, UBS Group upped their target price on Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $10.78.

Maravai LifeSciences Stock Performance

Shares of NASDAQ:MRVI opened at $8.45 on Wednesday. The company has a current ratio of 10.00, a quick ratio of 9.28 and a debt-to-equity ratio of 0.71. The business’s fifty day moving average price is $8.86 and its two-hundred day moving average price is $8.59. Maravai LifeSciences Holdings, Inc. has a one year low of $4.52 and a one year high of $11.56.

Maravai LifeSciences (NASDAQ:MRVI) last issued its quarterly earnings data 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 analysts’ expectations of $71.64 million. Maravai LifeSciences had a negative net margin of 47.41% and a negative return on equity of 4.78%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.06) earnings per share. Sell-side analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.17 EPS for the current fiscal year.

Maravai LifeSciences Company 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.