Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 15.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,550,503 shares of the company’s stock after buying an additional 598,530 shares during the period. Massachusetts Financial Services Co. MA owned 1.81% of Maravai LifeSciences worth $32,582,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in Maravai LifeSciences by 30.1% in the second quarter. Bank of New York Mellon Corp now owns 506,413 shares of the company’s stock worth $3,626,000 after buying an additional 117,120 shares during the period. Jump Financial LLC acquired a new stake in Maravai LifeSciences in the fourth quarter worth $225,000. Principal Financial Group Inc. increased its position in Maravai LifeSciences by 3,349.6% in the first quarter. Principal Financial Group Inc. now owns 410,197 shares of the company’s stock worth $3,556,000 after buying an additional 398,306 shares during the period. Jennison Associates LLC acquired a new stake in Maravai LifeSciences in the first quarter worth $3,415,000. Finally, Point72 Europe London LLP acquired a new stake in Maravai LifeSciences in the fourth quarter worth $17,059,000. 50.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Maravai LifeSciences Stock Down 4.5 %

NASDAQ MRVI opened at $8.44 on Friday. Maravai LifeSciences Holdings, Inc. has a 12 month low of $4.52 and a 12 month high of $11.56. The company has a market capitalization of $2.13 billion, a P/E ratio of -8.53 and a beta of 0.01. The company’s 50 day simple moving average is $8.89 and its 200 day simple moving average is $8.56. 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 (NASDAQ:MRVI) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter. The company had revenue of $73.40 million during the quarter, compared to the consensus estimate 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 period in the prior year, the company posted ($0.06) EPS. 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.