China Universal Asset Management Co. Ltd. Buys 11,621 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

China Universal Asset Management Co. Ltd. lifted its position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 74.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 27,225 shares of the company’s stock after purchasing an additional 11,621 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Maravai LifeSciences were worth $226,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MRVI. GAMMA Investing LLC grew its holdings in shares of Maravai LifeSciences by 310.2% during the second quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock worth $26,000 after purchasing an additional 2,711 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Maravai LifeSciences in the 2nd quarter valued at about $32,000. Headlands Technologies LLC bought a new position in shares of Maravai LifeSciences in the first quarter worth about $42,000. Blue Trust Inc. bought a new position in shares of Maravai LifeSciences in the second quarter worth about $44,000. Finally, Custom Index Systems LLC acquired a new position in shares of Maravai LifeSciences during the third quarter worth approximately $97,000. 50.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MRVI shares. Morgan Stanley lowered shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $11.00 to $10.00 in a report on Tuesday, August 13th. The Goldman Sachs Group dropped their target price on Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Tuesday, October 8th. UBS Group boosted their price objective on Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Wells Fargo & Company assumed coverage on shares of Maravai LifeSciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 target price on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $15.00 price objective on shares of Maravai LifeSciences in a report on Friday, August 16th. 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 a consensus rating of “Moderate Buy” and an average target price of $10.67.

Maravai LifeSciences Stock Up 7.3 %

Maravai LifeSciences stock opened at $7.63 on Thursday. The firm has a market capitalization of $1.92 billion and a price-to-earnings ratio of -7.71. The company’s 50 day simple moving average is $8.33 and its 200 day simple moving average is $8.52. The company has a debt-to-equity ratio of 0.71, a current ratio of 10.00 and a quick ratio of 9.28. Maravai LifeSciences Holdings, Inc. has a fifty-two week low of $4.52 and a fifty-two week high of $11.56.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly 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 firm had revenue of $73.40 million for the quarter, compared to the consensus estimate of $71.64 million. During the same period in the prior year, the business earned ($0.06) earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Maravai LifeSciences Holdings, Inc. will post -0.17 EPS for the current year.

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.