VELA Investment Management LLC Has $686,000 Stock Holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

VELA Investment Management LLC lifted its holdings in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 29.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 95,866 shares of the company’s stock after acquiring an additional 21,549 shares during the period. VELA Investment Management LLC’s holdings in Maravai LifeSciences were worth $686,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Point72 Europe London LLP bought a new position in Maravai LifeSciences in the fourth quarter valued at about $17,059,000. 12 West Capital Management LP grew its holdings 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 valued at $114,470,000 after purchasing an additional 1,600,000 shares during the last quarter. Braidwell LP grew its holdings in shares of Maravai LifeSciences by 26.8% during the 4th quarter. Braidwell LP now owns 5,040,635 shares of the company’s stock valued at $33,016,000 after purchasing an additional 1,065,778 shares during the last quarter. Bamco Inc. NY increased its position in Maravai LifeSciences by 43.1% during the 1st quarter. Bamco Inc. NY now owns 2,123,651 shares of the company’s stock worth $18,412,000 after purchasing an additional 640,000 shares in the last quarter. Finally, Roubaix Capital LLC bought a new position in Maravai LifeSciences in the 2nd quarter valued at approximately $3,123,000. 50.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on MRVI shares. Morgan Stanley cut shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $11.00 to $10.00 in a research note on Tuesday, August 13th. Robert W. Baird boosted their price objective on Maravai LifeSciences from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Wells Fargo & Company initiated coverage on Maravai LifeSciences in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 target price for the company. UBS Group boosted their price target on Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $15.00 price objective on shares of Maravai LifeSciences in a report on Friday, August 16th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $10.78.

Maravai LifeSciences Price Performance

Shares of MRVI opened at $8.64 on Friday. The business has a 50-day moving average of $8.58 and a 200-day moving average of $8.41. The company has a debt-to-equity ratio of 0.71, a current ratio of 10.00 and a quick ratio of 9.28. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -8.73 and a beta of 0.01. Maravai LifeSciences Holdings, Inc. has a 1 year low of $4.52 and a 1 year high of $11.56.

Maravai LifeSciences (NASDAQ:MRVI) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter. Maravai LifeSciences had a negative return on equity of 4.78% and a negative net margin of 47.41%. The firm had revenue of $73.40 million for the quarter, compared to the consensus estimate of $71.64 million. During the same quarter in the previous year, the business posted ($0.06) EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Maravai LifeSciences Holdings, Inc. will post -0.17 earnings per share for the current year.

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.