Lazard Asset Management LLC Sells 170,919 Shares of Maravai LifeSciences Holdings, Inc. $MRVI

Key Points

• Lazard Asset Management reduced its Maravai LifeSciences stake by 16.8%, selling 170,919 shares and retaining 847,799 shares valued at approximately $2.4 million. Institutional investors and hedge funds collectively own 50.25% of MRVI.
• Maravai reported quarterly revenue of $65.84 million and earnings per share of $0.01, beating analyst estimates for both revenue and EPS, though the company remains unprofitable with a negative net margin.
• Analyst sentiment is mixed, with three Buy ratings and two Sell ratings producing an overall “Hold” consensus and an average price target of $5.50, below the stock’s reported $6.57 opening price.

Lazard Asset Management LLC lowered its stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 16.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 847,799 shares of the company's stock after selling 170,919 shares during the quarter. Lazard Asset Management LLC owned about 0.33% of Maravai LifeSciences worth $2,399,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. T. Rowe Price Investment Management Inc. lifted its stake in Maravai LifeSciences by 2.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,336,680 shares of the company's stock valued at $20,595,000 after buying an additional 178,445 shares during the period. Mackenzie Financial Corp grew its position in shares of Maravai LifeSciences by 1.7% during the 4th quarter. Mackenzie Financial Corp now owns 6,173,656 shares of the company's stock worth $20,148,000 after buying an additional 104,355 shares during the period. Renaissance Technologies LLC grew its position in shares of Maravai LifeSciences by 0.9% during the 1st quarter. Renaissance Technologies LLC now owns 4,264,689 shares of the company's stock worth $12,069,000 after buying an additional 39,600 shares during the period. Tejara Capital Ltd increased its stake in shares of Maravai LifeSciences by 23.1% in the 4th quarter. Tejara Capital Ltd now owns 3,020,209 shares of the company's stock valued at $9,816,000 after acquiring an additional 566,768 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Maravai LifeSciences by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 2,848,105 shares of the company's stock valued at $9,259,000 after acquiring an additional 34,447 shares during the last quarter. 50.25% of the stock is owned by institutional investors and hedge funds.

Maravai LifeSciences Stock Performance

Shares of MRVI stock opened at $6.57 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.96 and a current ratio of 5.91. Maravai LifeSciences Holdings, Inc. has a 52 week low of $1.99 and a 52 week high of $7.44. The company's 50 day moving average price is $5.80 and its two-hundred day moving average price is $4.30. The company has a market capitalization of $1.70 billion, a P/E ratio of -9.25 and a beta of 0.65.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.06. Maravai LifeSciences had a negative net margin of 51.07% and a negative return on equity of 17.87%. The company had revenue of $65.84 million during the quarter, compared to analysts' expectations of $53.00 million. On average, analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MRVI. Weiss Ratings upgraded shares of Maravai LifeSciences from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, May 29th. UBS Group reiterated a "reduce" rating on shares of Maravai LifeSciences in a report on Wednesday, June 3rd. Wells Fargo & Company lifted their price target on shares of Maravai LifeSciences from $4.50 to $5.50 and gave the stock an "overweight" rating in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $6.00 price target on shares of Maravai LifeSciences in a report on Friday, May 8th. Finally, Wall Street Zen downgraded Maravai LifeSciences from a "buy" rating to a "hold" rating in a research note on Saturday. Three investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $5.50.

Insiders Place Their Bets

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the company's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $5.06, for a total value of $126,500.00. Following the completion of the transaction, the general counsel directly owned 360,767 shares of the company's stock, valued at approximately $1,825,481.02. This represents a 6.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.49% of the company's stock.

Maravai LifeSciences Profile

Maravai LifeSciences Holdings, Inc NASDAQ: MRVI is a life sciences company specializing in the development and supply of critical reagents and services for the development and manufacture of biologic therapies. The company's offerings support a range of applications in genomics, molecular diagnostics, vaccine development and next-generation sequencing. Maravai's platforms address key challenges in nucleic acid production, protein detection, epigenetic analysis and reagent quality across the biopharmaceutical industry.

Through its product portfolio, which includes proprietary mRNA capping reagents, lipid nanoparticle delivery systems, synthetic oligonucleotides and high-precision assay kits, Maravai enables customers to accelerate research and streamline manufacturing workflows.

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