Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Shares Purchased by Bamco Inc. NY

Bamco Inc. NY boosted its position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 43.1% in the first quarter, HoldingsChannel.com reports. The fund owned 2,123,651 shares of the company’s stock after acquiring an additional 640,000 shares during the quarter. Bamco Inc. NY’s holdings in Maravai LifeSciences were worth $18,412,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in MRVI. Wellington Management Group LLP lifted its holdings in shares of Maravai LifeSciences by 2.6% during the third quarter. Wellington Management Group LLP now owns 70,658 shares of the company’s stock worth $707,000 after purchasing an additional 1,779 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of Maravai LifeSciences by 11.7% in the 1st quarter. QRG Capital Management Inc. now owns 17,143 shares of the company’s stock valued at $149,000 after acquiring an additional 1,796 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Maravai LifeSciences by 17.3% in the 4th quarter. M&T Bank Corp now owns 20,107 shares of the company’s stock valued at $131,000 after acquiring an additional 2,972 shares during the last quarter. Performa Ltd US LLC increased its stake in shares of Maravai LifeSciences by 112.4% in the fourth quarter. Performa Ltd US LLC now owns 6,000 shares of the company’s stock worth $39,000 after acquiring an additional 3,175 shares during the period. Finally, Handelsbanken Fonder AB raised its holdings in shares of Maravai LifeSciences by 15.4% during the fourth quarter. Handelsbanken Fonder AB now owns 25,500 shares of the company’s stock worth $167,000 after purchasing an additional 3,400 shares during the last quarter. Hedge funds and other institutional investors own 50.25% of the company’s stock.

Insider Activity at Maravai LifeSciences

In other Maravai LifeSciences news, Director Gtcr Investment Xi Llc sold 9,940,974 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 20,150,005 shares in the company, valued at approximately $197,671,549.05. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.63% of the stock is currently owned by corporate insiders.

Maravai LifeSciences Price Performance

Shares of MRVI stock traded up $0.65 during trading hours on Friday, hitting $9.16. 1,261,621 shares of the company’s stock were exchanged, compared to its average volume of 2,373,665. 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 cap of $2.31 billion, a P/E ratio of -9.25 and a beta of 0.02. The company has a quick ratio of 10.47, a current ratio of 11.32 and a debt-to-equity ratio of 0.71. The firm has a 50 day moving average of $8.38 and a two-hundred day moving average of $7.82.

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

Wall Street Analyst Weigh In

MRVI has been the topic of several analyst reports. Robert W. Baird increased their price target on Maravai LifeSciences from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. 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 research note on Tuesday, July 9th. Finally, Craig Hallum began coverage on Maravai LifeSciences in a research report on Wednesday, April 10th. They set a “buy” rating and a $15.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.44.

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.