Bayesian Capital Management LP Purchases Shares of 74,175 Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Bayesian Capital Management LP purchased a new stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 74,175 shares of the company’s stock, valued at approximately $643,000.

Several other institutional investors and hedge funds also recently modified their holdings of MRVI. SG Americas Securities LLC purchased a new stake in shares of Maravai LifeSciences in the fourth quarter valued at about $614,000. Pinnacle Associates Ltd. acquired a new position in shares of Maravai LifeSciences in the fourth quarter valued at approximately $69,000. China Universal Asset Management Co. Ltd. raised its position in shares of Maravai LifeSciences by 351.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 15,292 shares of the company’s stock valued at $100,000 after buying an additional 11,901 shares during the last quarter. Bleakley Financial Group LLC raised its position in shares of Maravai LifeSciences by 83.3% in the fourth quarter. Bleakley Financial Group LLC now owns 23,760 shares of the company’s stock valued at $156,000 after buying an additional 10,796 shares during the last quarter. Finally, Simplicity Solutions LLC raised its position in shares of Maravai LifeSciences by 83.3% in the fourth quarter. Simplicity Solutions LLC now owns 23,760 shares of the company’s stock valued at $156,000 after buying an additional 10,796 shares during the last quarter. Hedge funds and other institutional investors own 50.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MRVI. The Goldman Sachs Group cut their price objective on shares of Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Robert W. Baird upped their price target on shares of Maravai LifeSciences from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Finally, Craig Hallum initiated coverage on shares of 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $11.44.

Maravai LifeSciences Trading Up 3.9 %

Shares of Maravai LifeSciences stock traded up $0.36 during trading hours on Tuesday, hitting $9.48. The company’s stock had a trading volume of 1,328,691 shares, compared to its average volume of 2,347,559. Maravai LifeSciences Holdings, Inc. has a 1-year low of $4.52 and a 1-year high of $12.10. The business has a fifty day moving average of $8.33 and a 200 day moving average of $7.84. The company has a market capitalization of $2.39 billion, a PE ratio of -9.21 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.

Maravai LifeSciences (NASDAQ:MRVI) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $60.84 million. As a group, equities analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.15 EPS for the current year.

Insider Transactions at Maravai LifeSciences

In other news, Director Gtcr Investment Xi Llc sold 9,940,974 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $9.81, for a total value of $97,520,954.94. Following the completion of the transaction, the director now directly owns 20,150,005 shares in the company, valued at $197,671,549.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.63% of the company’s stock.

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.