Jennison Associates LLC Has $16.30 Million Stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Jennison Associates LLC boosted its position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,990,414 shares of the company’s stock after purchasing an additional 9,769 shares during the period. Jennison Associates LLC owned 1.18% of Maravai LifeSciences worth $16,298,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Creative Planning increased its stake in shares of Maravai LifeSciences by 4.4% in the third quarter. Creative Planning now owns 44,943 shares of the company’s stock valued at $373,000 after buying an additional 1,881 shares during the period. SG Americas Securities LLC increased its position in Maravai LifeSciences by 7.3% in the 4th quarter. SG Americas Securities LLC now owns 33,046 shares of the company’s stock valued at $180,000 after acquiring an additional 2,239 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in shares of Maravai LifeSciences by 10.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 30,076 shares of the company’s stock valued at $164,000 after acquiring an additional 2,851 shares during the last quarter. Kornitzer Capital Management Inc. KS lifted its holdings in shares of Maravai LifeSciences by 0.7% during the third quarter. Kornitzer Capital Management Inc. KS now owns 519,890 shares of the company’s stock worth $4,320,000 after purchasing an additional 3,725 shares during the period. Finally, Venturi Wealth Management LLC bought a new stake in shares of Maravai LifeSciences in the third quarter worth $47,000. 50.25% of the stock is currently owned by institutional investors.

Maravai LifeSciences Stock Up 3.6 %

Maravai LifeSciences stock opened at $4.94 on Thursday. The company has a market capitalization of $1.25 billion, a PE ratio of -3.01 and a beta of -0.08. Maravai LifeSciences Holdings, Inc. has a 12-month low of $4.28 and a 12-month high of $11.56. The firm’s fifty day moving average is $5.38 and its 200 day moving average is $7.06. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.09) earnings per share for the quarter. The company had revenue of $65.20 million for the quarter, compared to analyst estimates of $67.58 million. Maravai LifeSciences had a negative net margin of 81.13% and a negative return on equity of 6.61%. During the same quarter in the prior year, the company posted ($0.02) EPS. As a group, sell-side analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Guggenheim started coverage on Maravai LifeSciences in a research report on Thursday, December 19th. They set a “neutral” rating for the company. The Goldman Sachs Group lowered Maravai LifeSciences from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $7.00 to $4.25 in a research note on Thursday, December 5th. Royal Bank of Canada reduced their target price on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. William Blair restated a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Finally, Wolfe Research initiated coverage on shares of Maravai LifeSciences in a research note on Thursday, November 14th. They issued a “peer perform” rating on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $10.28.

Insider Buying and Selling

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $5.03, for a total transaction of $125,750.00. Following the transaction, the general counsel now directly owns 167,618 shares of the company’s stock, valued at $843,118.54. This represents a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Carl Hull bought 175,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average price of $5.64 per share, for a total transaction of $987,000.00. Following the completion of the acquisition, the insider now owns 175,000 shares in the company, valued at $987,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.63% of the stock is owned by company insiders.

Maravai LifeSciences Company 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.