Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 32.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 25,450 shares of the company’s stock after acquiring an additional 6,212 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Maravai LifeSciences were worth $182,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MRVI. Point72 Europe London LLP acquired a new stake in shares of Maravai LifeSciences in the fourth quarter valued at about $17,059,000. 12 West Capital Management LP raised its position in shares of Maravai LifeSciences by 13.8% during the 1st quarter. 12 West Capital Management LP now owns 13,202,988 shares of the company’s stock worth $114,470,000 after buying an additional 1,600,000 shares in the last quarter. Braidwell LP raised its holdings in shares of Maravai LifeSciences by 26.8% in the 4th quarter. Braidwell LP now owns 5,040,635 shares of the company’s stock worth $33,016,000 after purchasing an additional 1,065,778 shares in the last quarter. Bamco Inc. NY boosted its position in shares of Maravai LifeSciences by 43.1% in the 1st quarter. Bamco Inc. NY now owns 2,123,651 shares of the company’s stock valued at $18,412,000 after purchasing an additional 640,000 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Maravai LifeSciences by 3,349.6% in the 1st quarter. Principal Financial Group Inc. now owns 410,197 shares of the company’s stock worth $3,556,000 after purchasing an additional 398,306 shares during the period. Hedge funds and other institutional investors own 50.25% of the company’s stock.

Wall Street Analyst Weigh In

MRVI has been the topic of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $15.00 price target on shares of Maravai LifeSciences in a report on Friday, August 16th. Morgan Stanley cut Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $11.00 to $10.00 in a report on Tuesday, August 13th. Wells Fargo & Company assumed coverage on Maravai LifeSciences in a report on Tuesday, August 27th. They set an “overweight” rating and a $10.00 target price on the stock. UBS Group lifted their price target on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Finally, The Goldman Sachs Group increased their target price on shares of Maravai LifeSciences from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Maravai LifeSciences presently has an average rating of “Moderate Buy” and a consensus price target of $10.78.

Maravai LifeSciences Stock Down 2.0 %

NASDAQ:MRVI opened at $8.87 on Tuesday. Maravai LifeSciences Holdings, Inc. has a twelve month low of $4.52 and a twelve month high of $11.56. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of -8.96 and a beta of 0.01. The stock’s 50 day moving average price is $8.66 and its two-hundred day moving average price is $8.51. 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 (NASDAQ:MRVI) last announced its earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter. Maravai LifeSciences had a negative net margin of 47.41% and a negative return on equity of 4.78%. The business had revenue of $73.40 million during the quarter, compared to the consensus estimate of $71.64 million. During the same period in the previous year, the firm posted ($0.06) EPS. The company’s revenue was up 6.5% compared to the same quarter last year. Equities research analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.17 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 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.