Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Shares Sold by Bank of America Corp DE

Bank of America Corp DE decreased its position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 23.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 689,182 shares of the company's stock after selling 205,292 shares during the quarter. Bank of America Corp DE owned 0.27% of Maravai LifeSciences worth $3,756,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Performa Ltd US LLC lifted its holdings in shares of Maravai LifeSciences by 614.3% in the 4th quarter. Performa Ltd US LLC now owns 5,000 shares of the company's stock worth $27,000 after purchasing an additional 4,300 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Maravai LifeSciences by 3,541.4% in the 4th quarter. Farther Finance Advisors LLC now owns 10,196 shares of the company's stock worth $56,000 after purchasing an additional 9,916 shares during the last quarter. Cibc World Markets Corp bought a new stake in shares of Maravai LifeSciences in the 4th quarter worth approximately $56,000. Atria Investments Inc bought a new stake in shares of Maravai LifeSciences in the 4th quarter worth approximately $58,000. Finally, Townsquare Capital LLC bought a new stake in shares of Maravai LifeSciences in the 4th quarter worth approximately $103,000. Institutional investors and hedge funds own 50.25% of the company's stock.

Maravai LifeSciences Price Performance

Shares of MRVI stock traded up $0.09 during mid-day trading on Tuesday, hitting $2.22. 935,899 shares of the stock traded hands, compared to its average volume of 2,336,402. Maravai LifeSciences Holdings, Inc. has a twelve month low of $1.67 and a twelve month high of $10.03. The firm has a market cap of $565.35 million, a price-to-earnings ratio of -1.35 and a beta of 0.19. The company's 50-day simple moving average is $2.05 and its 200-day simple moving average is $3.67. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.01). The company had revenue of $46.85 million during the quarter, compared to analyst estimates 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 revenue for the quarter was down 26.9% on a year-over-year basis. As a group, equities research analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.24 earnings per share for the current year.

Wall Street Analyst Weigh In

MRVI has been the topic of several recent analyst reports. Morgan Stanley cut their target price on Maravai LifeSciences from $7.00 to $5.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 25th. Baird R W downgraded Maravai LifeSciences from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Craig Hallum cut their target price on Maravai LifeSciences from $12.00 to $10.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Robert W. Baird cut their target price on Maravai LifeSciences from $3.00 to $2.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Finally, UBS Group cut their target price on Maravai LifeSciences from $8.00 to $2.50 and set a "neutral" rating on the stock in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price 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.