Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC increased its position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 20.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,881,441 shares of the company’s stock after acquiring an additional 668,552 shares during the period. Renaissance Technologies LLC owned about 1.54% of Maravai LifeSciences worth $27,791,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. 12 West Capital Management LP lifted its stake 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 worth $114,470,000 after acquiring an additional 1,600,000 shares in the last quarter. Vanguard Group Inc. lifted its stake in Maravai LifeSciences by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 10,038,126 shares of the company’s stock worth $87,031,000 after acquiring an additional 34,232 shares in the last quarter. Braidwell LP lifted its stake in Maravai LifeSciences by 26.8% during the 4th quarter. Braidwell LP now owns 5,040,635 shares of the company’s stock worth $33,016,000 after acquiring an additional 1,065,778 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Maravai LifeSciences by 15.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,550,503 shares of the company’s stock worth $32,582,000 after acquiring an additional 598,530 shares in the last quarter. Finally, Point72 Europe London LLP acquired a new position in Maravai LifeSciences during the 4th quarter worth about $17,059,000. Institutional investors and hedge funds own 50.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and set a $15.00 target price on shares of Maravai LifeSciences in a research note on Friday, August 16th. UBS Group upped their price target 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 initiated coverage on Maravai LifeSciences in a report on Tuesday, August 27th. They set an “overweight” rating and a $10.00 price target on the stock. The Goldman Sachs Group upped their price target on Maravai LifeSciences from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, Morgan Stanley downgraded Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $11.00 to $10.00 in a report on Tuesday, August 13th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.78.

Maravai LifeSciences Trading Down 3.5 %

MRVI opened at $8.84 on Friday. Maravai LifeSciences Holdings, Inc. has a one year low of $4.52 and a one year high of $11.56. The company has a market cap of $2.23 billion, a P/E ratio of -8.93 and a beta of 0.01. The company has a debt-to-equity ratio of 0.71, a quick ratio of 9.28 and a current ratio of 10.00. The business’s 50-day simple moving average is $8.89 and its 200-day simple moving average is $8.55.

Maravai LifeSciences (NASDAQ:MRVI) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.08) 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 analysts’ expectations of $71.64 million. During the same quarter in the previous year, the company posted ($0.06) EPS. The company’s revenue was up 6.5% compared to the same quarter last year. As a group, equities research analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.17 EPS for the current fiscal 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.