Bank of America Corp DE Sells 205,292 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Bank of America Corp DE decreased its holdings in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 23.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 689,182 shares of the company's stock after selling 205,292 shares during the quarter. Bank of America Corp DE owned about 0.27% of Maravai LifeSciences worth $3,756,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. boosted its position in shares of Maravai LifeSciences by 145.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 5,329,420 shares of the company's stock valued at $29,045,000 after acquiring an additional 3,161,072 shares during the period. Marshall Wace LLP grew its stake in shares of Maravai LifeSciences by 17,912.9% in the fourth quarter. Marshall Wace LLP now owns 2,778,497 shares of the company's stock worth $15,143,000 after acquiring an additional 2,763,072 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Maravai LifeSciences by 29.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,664,210 shares of the company's stock worth $25,420,000 after acquiring an additional 1,062,485 shares during the last quarter. CenterBook Partners LP acquired a new stake in shares of Maravai LifeSciences in the fourth quarter worth $4,425,000. Finally, Pier Capital LLC grew its stake in shares of Maravai LifeSciences by 137.0% in the fourth quarter. Pier Capital LLC now owns 1,127,773 shares of the company's stock worth $6,146,000 after acquiring an additional 651,921 shares during the last quarter. Institutional investors and hedge funds own 50.25% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Baird R W downgraded shares of Maravai LifeSciences from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 26th. UBS Group cut their target price on Maravai LifeSciences from $8.00 to $2.50 and set a "neutral" rating for the company in a research note on Friday, March 21st. Morgan Stanley cut their target price on Maravai LifeSciences from $7.00 to $5.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 25th. Bank of America lowered their price objective on Maravai LifeSciences from $9.00 to $8.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Finally, Robert W. Baird dropped their target price on shares of Maravai LifeSciences from $3.00 to $2.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Maravai LifeSciences currently has a consensus rating of "Hold" and a consensus price target of $6.64.

Maravai LifeSciences Stock Down 4.6%

MRVI stock traded down $0.11 during mid-day trading on Friday, reaching $2.26. The company had a trading volume of 3,243,605 shares, compared to its average volume of 2,346,245. Maravai LifeSciences Holdings, Inc. has a 52 week low of $1.67 and a 52 week high of $10.03. The company has a market capitalization of $575.53 million, a price-to-earnings ratio of -1.38 and a beta of 0.19. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. The stock has a 50 day simple moving average of $2.06 and a two-hundred day simple moving average of $3.72.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last issued its earnings results 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 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% compared to the same quarter last year. As a group, equities analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.24 earnings per share for the current fiscal year.

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.