Point72 Asia Singapore Pte. Ltd. Purchases Shares of 4,449 Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,449 shares of the company’s stock, valued at approximately $32,000.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in Maravai LifeSciences by 310.2% in the second quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock valued at $26,000 after purchasing an additional 2,711 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Maravai LifeSciences in the first quarter valued at $42,000. Blue Trust Inc. purchased a new stake in Maravai LifeSciences in the second quarter valued at $44,000. Delap Wealth Advisory LLC purchased a new stake in Maravai LifeSciences in the first quarter valued at $106,000. Finally, Burgundy Asset Management Ltd. purchased a new stake in shares of Maravai LifeSciences during the 4th quarter worth about $95,000. 50.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on MRVI. The Goldman Sachs Group increased their target price on shares of Maravai LifeSciences from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. UBS Group increased their target price on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Wells Fargo & Company began 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. Morgan Stanley lowered shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $11.00 to $10.00 in a research note on Tuesday, August 13th. Finally, 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. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.78.

Maravai LifeSciences Trading Down 3.1 %

Shares of Maravai LifeSciences stock opened at $8.05 on Wednesday. The firm has a market capitalization of $2.03 billion, a PE ratio of -8.13 and a beta of 0.01. Maravai LifeSciences Holdings, Inc. has a twelve month low of $4.52 and a twelve month high of $11.56. The firm’s 50-day moving average price is $8.82 and its 200 day moving average price is $8.61. The company has a current ratio of 10.00, a quick ratio of 9.28 and a debt-to-equity ratio of 0.71.

Maravai LifeSciences (NASDAQ:MRVI) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter. The business had revenue of $73.40 million during the quarter, compared to analyst estimates of $71.64 million. Maravai LifeSciences had a negative net margin of 47.41% and a negative return on equity of 4.78%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.06) EPS. On average, sell-side analysts predict 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.