Millennium Management LLC Has $42.74 Million Stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Millennium Management LLC increased its position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 12.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,968,592 shares of the company’s stock after purchasing an additional 653,639 shares during the period. Millennium Management LLC owned about 2.37% of Maravai LifeSciences worth $42,735,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in Maravai LifeSciences by 310.2% in the 2nd 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 period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Maravai LifeSciences in the 2nd quarter worth approximately $32,000. Headlands Technologies LLC acquired a new stake in shares of Maravai LifeSciences during the 1st quarter valued at $42,000. Blue Trust Inc. acquired a new stake in shares of Maravai LifeSciences during the 2nd quarter valued at $44,000. Finally, Burgundy Asset Management Ltd. acquired a new stake in shares of Maravai LifeSciences during the 4th quarter valued at $95,000. Institutional investors and hedge funds own 50.25% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. 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 research note on Thursday, August 8th. 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. Morgan Stanley lowered shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $11.00 to $10.00 in a research note on Tuesday, August 13th. 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 for the company. Finally, The Goldman Sachs Group raised their price target 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. 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.78.

Maravai LifeSciences Stock Down 3.1 %

Maravai LifeSciences stock opened at $8.05 on Wednesday. The company has a market capitalization of $2.03 billion, a P/E ratio of -8.13 and a beta of 0.01. Maravai LifeSciences Holdings, Inc. has a 1-year low of $4.52 and a 1-year high of $11.56. 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’s fifty day simple moving average is $8.82 and its 200-day simple moving average is $8.61.

Maravai LifeSciences (NASDAQ:MRVI) last announced its earnings results on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter. The firm had revenue of $73.40 million during the quarter, compared to the consensus estimate of $71.64 million. Maravai LifeSciences had a negative return on equity of 4.78% and a negative net margin of 47.41%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.06) EPS. Sell-side analysts forecast 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.