Symmetry Investments LP Makes New $823,000 Investment in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Symmetry Investments LP purchased a new position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 115,000 shares of the company’s stock, valued at approximately $823,000.

Several other hedge funds have also recently added to or reduced their stakes in MRVI. Point72 Europe London LLP acquired a new position in Maravai LifeSciences in the fourth quarter worth approximately $17,059,000. 12 West Capital Management LP grew 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 worth $114,470,000 after purchasing an additional 1,600,000 shares in the last quarter. Braidwell LP grew 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 worth $33,016,000 after purchasing an additional 1,065,778 shares in the last quarter. Renaissance Technologies LLC grew its position in Maravai LifeSciences by 20.8% during the 2nd quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock worth $27,791,000 after purchasing an additional 668,552 shares in the last quarter. Finally, Bamco Inc. NY grew 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 worth $18,412,000 after purchasing an additional 640,000 shares in the last quarter. Institutional investors and hedge funds own 50.25% of the company’s stock.

Maravai LifeSciences Trading Down 4.5 %

Maravai LifeSciences stock opened at $8.44 on Friday. The company’s fifty day simple moving average is $8.89 and its 200-day simple moving average is $8.56. The company has a quick ratio of 9.28, a current ratio of 10.00 and a debt-to-equity ratio of 0.71. Maravai LifeSciences Holdings, Inc. has a 12 month low of $4.52 and a 12 month high of $11.56. The stock has a market cap of $2.13 billion, a P/E ratio of -8.53 and a beta of 0.01.

Maravai LifeSciences (NASDAQ:MRVI) last posted its quarterly earnings results 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 company had revenue of $73.40 million for the quarter, compared to analysts’ expectations of $71.64 million. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Maravai LifeSciences Company 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.