Kennedy Capital Management LLC Lowers Holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Kennedy Capital Management LLC lessened its holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 7.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 97,277 shares of the company’s stock after selling 7,268 shares during the quarter. Kennedy Capital Management LLC’s holdings in Maravai LifeSciences were worth $843,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Point72 Europe London LLP purchased a new stake in shares of Maravai LifeSciences in the 4th quarter valued at about $17,059,000. 12 West Capital Management LP lifted its position in Maravai LifeSciences by 13.8% during the first quarter. 12 West Capital Management LP now owns 13,202,988 shares of the company’s stock valued at $114,470,000 after purchasing an additional 1,600,000 shares during the last quarter. Braidwell LP grew its stake in Maravai LifeSciences by 26.8% in the 4th 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 in the last quarter. Bamco Inc. NY increased its holdings in shares of Maravai LifeSciences by 43.1% in the 1st quarter. Bamco Inc. NY now owns 2,123,651 shares of the company’s stock worth $18,412,000 after buying an additional 640,000 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of 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 buying an additional 398,306 shares in the last quarter. Institutional investors own 50.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MRVI. Craig Hallum initiated coverage on Maravai LifeSciences in a report on Wednesday, April 10th. They issued a “buy” rating and a $15.00 price objective for the company. Robert W. Baird upped their target price on Maravai LifeSciences from $8.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. Finally, The Goldman Sachs Group decreased their price target on shares of Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Maravai LifeSciences has an average rating of “Moderate Buy” and a consensus target price of $11.44.

Insider Activity

In related news, Director Gtcr Investment Xi Llc sold 9,940,974 shares of the firm’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 transaction, the director now owns 20,150,005 shares of the company’s stock, valued at approximately $197,671,549.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.63% of the company’s stock.

Maravai LifeSciences Stock Up 2.6 %

Shares of NASDAQ MRVI opened at $9.73 on Thursday. Maravai LifeSciences Holdings, Inc. has a 12 month low of $4.52 and a 12 month high of $12.10. The firm has a fifty day simple moving average of $8.27 and a two-hundred day simple moving average of $7.88. The company has a debt-to-equity ratio of 0.71, a quick ratio of 10.47 and a current ratio of 11.32.

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