Massachusetts Financial Services Co. MA Reduces Stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Massachusetts Financial Services Co. MA reduced its holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 94.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 247,821 shares of the company's stock after selling 4,416,389 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.10% of Maravai LifeSciences worth $548,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Alyeska Investment Group L.P. lifted its holdings in 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 worth $29,045,000 after buying an additional 3,161,072 shares during the period. Marshall Wace LLP lifted its holdings in 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 buying an additional 2,763,072 shares during the period. CenterBook Partners LP purchased a new stake in Maravai LifeSciences in the fourth quarter worth about $4,425,000. SG Americas Securities LLC lifted its holdings in Maravai LifeSciences by 2,005.9% in the first quarter. SG Americas Securities LLC now owns 695,907 shares of the company's stock worth $1,538,000 after buying an additional 662,861 shares during the period. Finally, Pier Capital LLC lifted its holdings in 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 buying an additional 651,921 shares during the period. 50.25% of the stock is currently owned by institutional investors.

Maravai LifeSciences Stock Down 0.7%

Shares of NASDAQ:MRVI traded down $0.02 during trading on Friday, reaching $2.69. 874,365 shares of the stock traded hands, compared to its average volume of 1,832,825. The stock has a 50-day moving average of $2.38 and a two-hundred day moving average of $2.89. Maravai LifeSciences Holdings, Inc. has a 52-week low of $1.66 and a 52-week high of $10.03. The company has a debt-to-equity ratio of 0.60, a quick ratio of 5.17 and a current ratio of 5.96. The stock has a market cap of $685.04 million, a P/E ratio of -2.36 and a beta of 0.28.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.01). Maravai LifeSciences had a negative net margin of 67.14% and a negative return on equity of 12.91%. The firm had revenue of $46.85 million for the quarter, compared to analysts' expectations of $44.01 million. The company's revenue for the quarter was down 26.9% compared to the same quarter last year. As a group, sell-side analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Craig Hallum lowered their price objective on shares of Maravai LifeSciences from $12.00 to $10.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Robert W. Baird decreased 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 note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Maravai LifeSciences presently has a consensus rating of "Hold" and an average target price of $6.64.

About Maravai LifeSciences

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.