43,372 Shares in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 43,372 shares of the company’s stock, valued at approximately $311,000.

Several other large investors have also bought and sold shares of the stock. GAMMA Investing LLC raised its position 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 worth $26,000 after acquiring an additional 2,711 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Maravai LifeSciences in the 2nd quarter worth about $32,000. Headlands Technologies LLC bought a new position in shares of Maravai LifeSciences in the 1st quarter worth about $42,000. Blue Trust Inc. bought a new position in shares of Maravai LifeSciences in the 2nd quarter worth about $44,000. Finally, Delap Wealth Advisory LLC bought a new position in shares of Maravai LifeSciences in the 1st quarter worth about $106,000. 50.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MRVI has been the subject of several research analyst reports. UBS Group lifted their price objective on Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. The Goldman Sachs Group reduced their target price on Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. Morgan Stanley downgraded Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $11.00 to $10.00 in a research note on Tuesday, August 13th. Wells Fargo & Company assumed 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. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $15.00 target price on shares of Maravai LifeSciences in a research note on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.67.

Maravai LifeSciences Price Performance

MRVI stock opened at $8.11 on Friday. The company has a market capitalization of $2.04 billion and a P/E ratio of -8.19. The company has a debt-to-equity ratio of 0.71, a quick ratio of 9.28 and a current ratio of 10.00. Maravai LifeSciences Holdings, Inc. has a 52-week low of $4.52 and a 52-week high of $11.56. The business has a 50-day simple moving average of $8.54 and a two-hundred day simple moving average of $8.57.

Maravai LifeSciences (NASDAQ:MRVI) last announced its earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter. Maravai LifeSciences had a negative return on equity of 4.78% and a negative net margin of 47.41%. The business had revenue of $73.40 million during the quarter, compared to analysts’ expectations of $71.64 million. During the same quarter in the previous year, the firm earned ($0.06) EPS. Maravai LifeSciences’s quarterly revenue was up 6.5% on a year-over-year basis. Research analysts expect 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.