Handelsbanken Fonder AB Increases Position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Handelsbanken Fonder AB lifted its position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 35.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,600 shares of the company’s stock after buying an additional 11,700 shares during the quarter. Handelsbanken Fonder AB’s holdings in Maravai LifeSciences were worth $371,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MRVI. GAMMA Investing LLC boosted its stake in shares of Maravai LifeSciences by 310.2% in the second quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock worth $26,000 after acquiring an additional 2,711 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Maravai LifeSciences in the 2nd quarter worth approximately $32,000. Headlands Technologies LLC purchased a new stake in Maravai LifeSciences during the 1st quarter valued at approximately $42,000. Blue Trust Inc. bought a new stake in shares of Maravai LifeSciences during the second quarter valued at approximately $44,000. Finally, Delap Wealth Advisory LLC purchased a new position in shares of Maravai LifeSciences in the first quarter worth $106,000. Institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Stock Performance

NASDAQ MRVI opened at $8.26 on Tuesday. The business’s 50 day moving average price is $8.58 and its 200-day moving average price is $8.58. Maravai LifeSciences Holdings, Inc. has a fifty-two week low of $4.52 and a fifty-two week high of $11.56. The company has a market cap of $2.08 billion and a P/E ratio of -8.34. 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 (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 net margin of 47.41% and a negative return on equity of 4.78%. The firm had revenue of $73.40 million during the quarter, compared to analysts’ expectations of $71.64 million. During the same period in the prior year, the company posted ($0.06) EPS. The company’s revenue was up 6.5% compared to the same quarter last year. Sell-side analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group cut their target price on shares of Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $15.00 target price 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 price target 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 price objective on the stock. Finally, UBS Group increased their target price on Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.67.

About Maravai LifeSciences

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.