China Universal Asset Management Co. Ltd. Buys 11,621 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

China Universal Asset Management Co. Ltd. grew its stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 74.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,225 shares of the company’s stock after buying an additional 11,621 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Maravai LifeSciences were worth $226,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. 12 West Capital Management LP lifted its holdings in Maravai LifeSciences by 13.8% in 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 during the last quarter. Vanguard Group Inc. lifted its stake in shares of Maravai LifeSciences by 0.3% in the first quarter. Vanguard Group Inc. now owns 10,038,126 shares of the company’s stock worth $87,031,000 after buying an additional 34,232 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Maravai LifeSciences by 12.3% during the 2nd quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock worth $42,735,000 after buying an additional 653,639 shares during the period. Mackenzie Financial Corp grew its stake in Maravai LifeSciences by 16.8% in the 2nd quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock valued at $41,962,000 after buying an additional 844,325 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake 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 buying an additional 598,530 shares during the last quarter. Institutional investors own 50.25% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MRVI shares. Royal Bank of Canada restated an “outperform” rating and set a $15.00 price target on shares of Maravai LifeSciences in a report on Friday, August 16th. The Goldman Sachs Group lowered their target price on Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, October 8th. UBS Group upped their price target on Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Wells Fargo & Company started coverage on Maravai LifeSciences in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price objective for the company. Finally, Morgan Stanley lowered shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $11.00 to $10.00 in a research report on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.67.

Maravai LifeSciences Stock Performance

Shares of NASDAQ MRVI opened at $7.63 on Thursday. The firm has a market capitalization of $1.92 billion and a price-to-earnings ratio of -7.71. Maravai LifeSciences Holdings, Inc. has a one year low of $4.52 and a one year high of $11.56. The business has a fifty day simple moving average of $8.33 and a 200 day simple moving average of $8.52. 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 for 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%. Maravai LifeSciences’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.06) earnings per share. Sell-side analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.17 EPS for the current 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.