Systematic Financial Management LP Reduces Stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Systematic Financial Management LP cut its holdings in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 6.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,405,662 shares of the company’s stock after selling 99,491 shares during the quarter. Systematic Financial Management LP owned about 0.56% of Maravai LifeSciences worth $10,065,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of MRVI. Bank of New York Mellon Corp raised its position 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 acquiring an additional 117,120 shares in the last quarter. Principal Financial Group Inc. increased its position in Maravai LifeSciences by 3,349.6% during the first quarter. Principal Financial Group Inc. now owns 410,197 shares of the company’s stock worth $3,556,000 after buying an additional 398,306 shares during the period. Jennison Associates LLC acquired a new position in Maravai LifeSciences during the first quarter worth approximately $3,415,000. Dragoneer Investment Group LLC acquired a new position in shares of Maravai LifeSciences in the second quarter worth $5,373,000. Finally, Point72 Europe London LLP acquired a new position in shares of Maravai LifeSciences in the fourth quarter worth $17,059,000. 50.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MRVI shares. Royal Bank of Canada reissued an “outperform” rating and issued a $15.00 price target on shares of Maravai LifeSciences in a report on Friday, August 16th. Morgan Stanley lowered Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $11.00 to $10.00 in a research note on Tuesday, August 13th. Wells Fargo & Company initiated coverage on Maravai LifeSciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 target price for the company. The Goldman Sachs Group upped their target price on Maravai LifeSciences from $7.00 to $8.00 and gave the company a “neutral” rating in a research note 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 research note on Thursday, August 8th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Maravai LifeSciences currently has an average rating of “Moderate Buy” and a consensus target price of $10.78.

Maravai LifeSciences Price Performance

Shares of NASDAQ MRVI opened at $8.42 on Monday. Maravai LifeSciences Holdings, Inc. has a 1-year low of $4.52 and a 1-year high of $11.56. The business has a 50-day moving average of $8.82 and a 200-day moving average of $8.60. The company has a debt-to-equity ratio of 0.71, a current ratio of 10.00 and a quick ratio of 9.28. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of -8.51 and a beta of 0.01.

Maravai LifeSciences (NASDAQ:MRVI) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter. The business 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 company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.06) EPS. On average, equities analysts anticipate 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.