Delta Investment Management LLC Purchases 246,592 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Delta Investment Management LLC increased its stake in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 285.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 332,993 shares of the company's stock after buying an additional 246,592 shares during the period. Delta Investment Management LLC owned 0.13% of Maravai LifeSciences worth $1,815,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC bought a new position in Maravai LifeSciences during the 4th quarter worth approximately $155,000. Bleakley Financial Group LLC raised its holdings in Maravai LifeSciences by 30.1% in the fourth quarter. Bleakley Financial Group LLC now owns 41,691 shares of the company's stock worth $227,000 after purchasing an additional 9,657 shares during the period. Rhumbline Advisers boosted its position in shares of Maravai LifeSciences by 9.9% during the fourth quarter. Rhumbline Advisers now owns 185,221 shares of the company's stock worth $1,009,000 after purchasing an additional 16,712 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Maravai LifeSciences in the 4th quarter valued at $112,000. Finally, Franklin Resources Inc. acquired a new position in shares of Maravai LifeSciences in the 3rd quarter valued at $600,000. Institutional investors own 50.25% of the company's stock.

Maravai LifeSciences Price Performance

Shares of MRVI traded down $0.08 during trading hours on Friday, hitting $2.22. 2,235,036 shares of the company were exchanged, compared to its average volume of 2,358,231. Maravai LifeSciences Holdings, Inc. has a fifty-two week low of $1.67 and a fifty-two week high of $11.16. The firm's fifty day moving average is $2.07 and its 200 day moving average is $3.84. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89. The company has a market cap of $565.35 million, a price-to-earnings ratio of -1.35 and a beta of 0.19.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.01). The firm had revenue of $46.85 million for the quarter, compared to the consensus estimate of $44.01 million. Maravai LifeSciences had a negative return on equity of 6.61% and a negative net margin of 81.13%. The business's quarterly revenue was down 26.9% on a year-over-year basis. On average, equities analysts anticipate that Maravai LifeSciences Holdings, Inc. will post -0.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MRVI shares. Morgan Stanley reduced their price objective on Maravai LifeSciences from $7.00 to $5.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 25th. Craig Hallum reduced their price target on Maravai LifeSciences from $12.00 to $10.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Baird R W cut shares of Maravai LifeSciences from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Stifel Nicolaus set a $5.00 price objective on shares of Maravai LifeSciences in a report on Friday, March 21st. Finally, Robert W. Baird reduced their target price on shares of Maravai LifeSciences from $3.00 to $2.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $6.64.

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.