Millennium Management LLC trimmed its stake in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 55.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,907,261 shares of the company's stock after selling 2,418,051 shares during the quarter. Millennium Management LLC owned about 0.76% of Maravai LifeSciences worth $10,395,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of MRVI. Alyeska Investment Group L.P. lifted its position in shares of Maravai LifeSciences by 145.8% during the 4th 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 lifted its position in shares of Maravai LifeSciences by 17,912.9% during the 4th quarter. Marshall Wace LLP now owns 2,778,497 shares of the company's stock valued at $15,143,000 after acquiring an additional 2,763,072 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Maravai LifeSciences by 29.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,664,210 shares of the company's stock valued at $25,420,000 after acquiring an additional 1,062,485 shares during the period. CenterBook Partners LP bought a new stake in shares of Maravai LifeSciences during the 4th quarter valued at $4,425,000. Finally, Pier Capital LLC lifted its position in shares of Maravai LifeSciences by 137.0% during the 4th quarter. Pier Capital LLC now owns 1,127,773 shares of the company's stock valued at $6,146,000 after acquiring an additional 651,921 shares during the period. 50.25% of the stock is currently owned by institutional investors.
Maravai LifeSciences Price Performance
MRVI stock traded up $0.18 during trading on Thursday, reaching $2.39. 600,599 shares of the company were exchanged, compared to its average volume of 2,344,951. The company has a 50-day moving average of $2.06 and a two-hundred day moving average of $3.77. The company has a market capitalization of $607.36 million, a price-to-earnings ratio of -1.46 and a beta of 0.19. Maravai LifeSciences Holdings, Inc. has a twelve month low of $1.67 and a twelve month high of $10.03. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94.
Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last released its quarterly earnings data 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 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 company's revenue for the quarter was down 26.9% on a year-over-year basis. As a group, equities analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.24 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
MRVI has been the subject of a number of recent analyst reports. Stifel Nicolaus set a $5.00 target price on Maravai LifeSciences in a research report on Friday, March 21st. Bank of America dropped their price objective on Maravai LifeSciences from $9.00 to $8.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Morgan Stanley reduced their price objective 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. Craig Hallum lowered their target price on Maravai LifeSciences from $12.00 to $10.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Finally, Robert W. Baird reduced their price target on shares of Maravai LifeSciences from $3.00 to $2.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $6.64.
Check Out Our Latest Stock Report on Maravai LifeSciences
About Maravai LifeSciences
(
Free Report)
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.
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