Jennison Associates LLC Invests $3.42 Million in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Jennison Associates LLC bought a new stake in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVIFree Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 393,894 shares of the company’s stock, valued at approximately $3,415,000. Jennison Associates LLC owned approximately 0.16% of Maravai LifeSciences at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in MRVI. Jump Financial LLC purchased a new position in Maravai LifeSciences during the 4th quarter worth approximately $225,000. Principal Financial Group Inc. grew its stake 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 worth $3,556,000 after purchasing an additional 398,306 shares in the last quarter. Performa Ltd US LLC increased its holdings in Maravai LifeSciences by 112.4% during the 4th quarter. Performa Ltd US LLC now owns 6,000 shares of the company’s stock worth $39,000 after purchasing an additional 3,175 shares during the period. Sivik Global Healthcare LLC acquired a new stake in Maravai LifeSciences in the 4th quarter valued at about $1,344,000. Finally, Point72 Europe London LLP purchased a new stake in shares of Maravai LifeSciences during the fourth quarter worth approximately $17,059,000. 50.25% of the stock is owned by institutional investors and hedge funds.

Maravai LifeSciences Trading Up 3.0 %

MRVI opened at $7.57 on Wednesday. The company has a quick ratio of 10.47, a current ratio of 11.32 and a debt-to-equity ratio of 0.71. Maravai LifeSciences Holdings, Inc. has a 52 week low of $4.52 and a 52 week high of $13.31. The business’s 50 day moving average is $8.68 and its two-hundred day moving average is $7.64.

Maravai LifeSciences (NASDAQ:MRVIGet Free Report) last announced its earnings results on Wednesday, May 8th. The company reported ($0.11) earnings per share (EPS) 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 business had revenue of $64.18 million for the quarter, compared to analysts’ expectations of $60.84 million. Analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.15 earnings per share for the current fiscal year.

Insider Activity

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

Wall Street Analysts Forecast Growth

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

Get Our Latest Stock Report on Maravai LifeSciences

Maravai LifeSciences Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Maravai LifeSciences (NASDAQ:MRVI)

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