67,310 Shares in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Purchased by Choreo LLC

Choreo LLC bought a new position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 67,310 shares of the company’s stock, valued at approximately $467,000.

Several other large investors also recently modified their holdings of the business. Point72 Europe London LLP bought a new stake in Maravai LifeSciences during the 4th quarter valued at approximately $17,059,000. 12 West Capital Management LP boosted its position in 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 valued at $114,470,000 after acquiring an additional 1,600,000 shares in the last quarter. Braidwell LP boosted its position in Maravai LifeSciences by 26.8% during the 4th quarter. Braidwell LP now owns 5,040,635 shares of the company’s stock valued at $33,016,000 after acquiring an additional 1,065,778 shares in the last quarter. Bamco Inc. NY boosted its position in Maravai LifeSciences by 43.1% during the 1st quarter. Bamco Inc. NY now owns 2,123,651 shares of the company’s stock valued at $18,412,000 after acquiring an additional 640,000 shares in the last quarter. Finally, Roubaix Capital LLC bought a new stake in Maravai LifeSciences during the 2nd quarter valued at approximately $3,123,000. 50.25% of the stock is owned by institutional investors.

Maravai LifeSciences Price Performance

Shares of MRVI opened at $8.39 on Monday. The firm has a market cap of $2.11 billion, a PE ratio of -8.47 and a beta of 0.01. The company has a current ratio of 10.00, a quick ratio of 9.28 and a debt-to-equity ratio of 0.71. The firm has a fifty day simple moving average of $8.80 and a two-hundred day simple moving average of $8.53. Maravai LifeSciences Holdings, Inc. has a 1-year low of $4.52 and a 1-year high of $11.56.

Maravai LifeSciences (NASDAQ:MRVI) last announced its earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter. The company had revenue of $73.40 million for 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%. Maravai LifeSciences’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. On average, equities analysts anticipate that Maravai LifeSciences Holdings, Inc. will post -0.17 EPS for the current year.

Wall Street Analyst Weigh In

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

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.