Marshall Wace LLP Has $28.68 Million Stock Position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Marshall Wace LLP cut its position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 17.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,004,884 shares of the company’s stock after selling 824,862 shares during the period. Marshall Wace LLP’s holdings in Maravai LifeSciences were worth $28,675,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MRVI. 12 West Capital Management LP boosted its holdings in Maravai LifeSciences by 13.8% in the first 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 holdings in shares of Maravai LifeSciences by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 10,038,126 shares of the company’s stock worth $87,031,000 after purchasing an additional 34,232 shares in the last quarter. Braidwell LP grew its position in Maravai LifeSciences by 26.8% in the 4th quarter. Braidwell LP now owns 5,040,635 shares of the company’s stock valued at $33,016,000 after purchasing an additional 1,065,778 shares during the period. Massachusetts Financial Services Co. MA grew its position in Maravai LifeSciences by 15.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,550,503 shares of the company’s stock valued at $32,582,000 after purchasing an additional 598,530 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Maravai LifeSciences by 20.8% during the 2nd quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock valued at $27,791,000 after purchasing an additional 668,552 shares in the last quarter. 50.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MRVI. UBS Group lifted their price objective on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Morgan Stanley downgraded Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $11.00 to $10.00 in a research note on Tuesday, August 13th. Wells Fargo & Company assumed coverage on Maravai LifeSciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price objective for the company. The Goldman Sachs Group raised their target price on Maravai LifeSciences from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $15.00 price target on shares of Maravai LifeSciences in a report on Friday, August 16th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.78.

Maravai LifeSciences Stock Performance

MRVI stock opened at $8.36 on Friday. The company has a quick ratio of 9.28, a current ratio of 10.00 and a debt-to-equity ratio of 0.71. The firm has a market cap of $2.11 billion, a PE ratio of -8.44 and a beta of 0.01. The business has a 50 day moving average of $8.83 and a 200-day moving average of $8.59. Maravai LifeSciences Holdings, Inc. has a 12-month low of $4.52 and a 12-month high of $11.56.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter. The business 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%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.06) EPS. As a group, sell-side analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.17 earnings per share for the current year.

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.