Principal Financial Group Inc. Acquires 139,667 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Principal Financial Group Inc. boosted its holdings in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVIGet Rating) by 27.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 641,349 shares of the company’s stock after acquiring an additional 139,667 shares during the period. Principal Financial Group Inc.’s holdings in Maravai LifeSciences were worth $18,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Zions Bancorporation N.A. purchased a new stake in shares of Maravai LifeSciences during the first quarter valued at about $28,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Maravai LifeSciences during the second quarter valued at about $32,000. Steward Partners Investment Advisory LLC lifted its position in shares of Maravai LifeSciences by 6,670.0% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,354 shares of the company’s stock valued at $38,000 after buying an additional 1,334 shares during the last quarter. Van ECK Associates Corp purchased a new stake in shares of Maravai LifeSciences during the second quarter valued at about $81,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Maravai LifeSciences during the first quarter valued at about $163,000. 51.02% of the stock is owned by hedge funds and other institutional investors.

Maravai LifeSciences Stock Performance

Shares of Maravai LifeSciences stock opened at $14.35 on Wednesday. Maravai LifeSciences Holdings, Inc. has a 52 week low of $13.40 and a 52 week high of $46.29. The company has a 50 day moving average price of $19.08 and a 200 day moving average price of $24.55. The company has a quick ratio of 6.68, a current ratio of 7.22 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $3.66 billion, a P/E ratio of 8.02 and a beta of -0.23.

Wall Street Analysts Forecast Growth

Several research firms have commented on MRVI. Morgan Stanley decreased their price target on shares of Maravai LifeSciences from $35.00 to $32.00 and set an “overweight” rating for the company in a research report on Friday, November 4th. KeyCorp decreased their price target on shares of Maravai LifeSciences from $35.00 to $28.00 and set an “overweight” rating for the company in a research report on Thursday, November 3rd. The Goldman Sachs Group decreased their price objective on shares of Maravai LifeSciences from $30.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, November 4th. TheStreet lowered shares of Maravai LifeSciences from a “c-” rating to a “d+” rating in a research report on Tuesday, July 26th. Finally, Bank of America lowered shares of Maravai LifeSciences from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $32.00 to $17.00 in a research report on Thursday, November 3rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.33.

Maravai LifeSciences Profile

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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 in the United States and internationally. 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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