Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Shares Bought by Clearbridge Investments LLC

Clearbridge Investments LLC boosted its position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 800,222 shares of the company’s stock after buying an additional 21,200 shares during the quarter. Clearbridge Investments LLC owned approximately 0.32% of Maravai LifeSciences worth $6,938,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MRVI. Point72 Europe London LLP acquired a new position in Maravai LifeSciences during the 4th quarter worth $17,059,000. 12 West Capital Management LP raised its stake in shares of 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 buying an additional 1,600,000 shares in the last quarter. Braidwell LP grew its position in Maravai LifeSciences by 26.8% during the fourth quarter. Braidwell LP now owns 5,040,635 shares of the company’s stock worth $33,016,000 after buying an additional 1,065,778 shares during the period. Pacer Advisors Inc. increased its position in shares of Maravai LifeSciences by 37.8% in the fourth quarter. Pacer Advisors Inc. now owns 2,955,230 shares of the company’s stock valued at $19,357,000 after buying an additional 810,957 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Maravai LifeSciences by 3,349.6% in the 1st quarter. Principal Financial Group Inc. now owns 410,197 shares of the company’s stock valued at $3,556,000 after acquiring an additional 398,306 shares during the last quarter. 50.25% of the stock is currently owned by institutional investors and hedge funds.

Maravai LifeSciences Price Performance

MRVI stock traded up $0.23 during trading on Thursday, hitting $8.51. The company had a trading volume of 41,710 shares, compared to its average volume of 2,360,764. Maravai LifeSciences Holdings, Inc. has a fifty-two week low of $4.52 and a fifty-two week high of $12.10. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of -8.60 and a beta of 0.02. The business has a 50 day moving average of $8.47 and a 200 day moving average of $7.79. The company has a current ratio of 11.32, a quick ratio of 10.47 and a debt-to-equity ratio of 0.71.

Maravai LifeSciences (NASDAQ:MRVI) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.05). Maravai LifeSciences had a negative net margin of 47.81% and a negative return on equity of 4.28%. The company had revenue of $64.18 million during the quarter, compared to the consensus estimate of $60.84 million. As a group, research analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.15 earnings per share for the current year.

Insider Buying and Selling

In other Maravai LifeSciences news, Director Gtcr Investment Xi Llc sold 9,940,974 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $9.81, for a total transaction of $97,520,954.94. Following the sale, the director now owns 20,150,005 shares in the company, valued at approximately $197,671,549.05. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.63% of the company’s stock.

Analyst Ratings Changes

MRVI has been the subject of several analyst reports. The Goldman Sachs Group cut their target price on shares of Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Robert W. Baird lifted their price target on shares of Maravai LifeSciences from $8.00 to $10.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Finally, Craig Hallum assumed coverage on Maravai LifeSciences in a research note on Wednesday, April 10th. They issued a “buy” rating and a $15.00 target price for the company. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Maravai LifeSciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.44.

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.