Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Shares Acquired by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB grew its stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 28.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 232,751 shares of the company’s stock after acquiring an additional 52,000 shares during the quarter. E. Ohman J or Asset Management AB owned about 0.09% of Maravai LifeSciences worth $1,934,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in shares of Maravai LifeSciences by 30.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 506,413 shares of the company’s stock worth $3,626,000 after purchasing an additional 117,120 shares during the period. Principal Financial Group Inc. boosted its holdings in Maravai LifeSciences by 3,349.6% during 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 period. Dragoneer Investment Group LLC purchased a new position in Maravai LifeSciences during the 2nd quarter valued at about $5,373,000. Jennison Associates LLC purchased a new position in Maravai LifeSciences during the 1st quarter valued at about $3,415,000. Finally, Bamco Inc. NY boosted its holdings in Maravai LifeSciences by 43.1% during the 1st quarter. Bamco Inc. NY now owns 2,123,651 shares of the company’s stock valued at $18,412,000 after acquiring an additional 640,000 shares during the period. 50.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MRVI. Wells Fargo & Company began coverage on Maravai LifeSciences in a report on Tuesday, August 27th. They set an “overweight” rating and a $10.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and set a $15.00 target price 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 for the company in a report on Tuesday, October 8th. UBS Group increased their price target on Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Finally, Morgan Stanley lowered Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $11.00 to $10.00 in a research report on Tuesday, August 13th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Maravai LifeSciences has an average rating of “Moderate Buy” and an average target price of $10.67.

Maravai LifeSciences Trading Down 1.5 %

MRVI opened at $7.02 on Friday. The firm has a market cap of $1.77 billion and a price-to-earnings ratio of -7.09. Maravai LifeSciences Holdings, Inc. has a 52 week low of $4.52 and a 52 week high of $11.56. The business’s 50 day moving average is $8.43 and its two-hundred day moving average is $8.54. 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 (NASDAQ:MRVI) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter. The firm had revenue of $73.40 million for the quarter, compared to analyst estimates of $71.64 million. Maravai LifeSciences had a negative return on equity of 4.78% and a negative net margin of 47.41%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the firm earned ($0.06) EPS. On average, research analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.17 EPS for the current year.

About Maravai LifeSciences

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.