Monaco Asset Management SAM Boosts Stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Monaco Asset Management SAM raised its position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 186.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 835,865 shares of the company's stock after acquiring an additional 544,501 shares during the quarter. Maravai LifeSciences comprises 0.4% of Monaco Asset Management SAM's investment portfolio, making the stock its 29th biggest holding. Monaco Asset Management SAM owned about 0.33% of Maravai LifeSciences worth $1,847,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. XTX Topco Ltd boosted its position in Maravai LifeSciences by 160.4% during the first quarter. XTX Topco Ltd now owns 99,458 shares of the company's stock valued at $220,000 after acquiring an additional 61,270 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Maravai LifeSciences by 56.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 47,031 shares of the company's stock valued at $104,000 after acquiring an additional 16,914 shares during the last quarter. Royce & Associates LP boosted its position in Maravai LifeSciences by 38.5% during the first quarter. Royce & Associates LP now owns 1,328,444 shares of the company's stock valued at $2,936,000 after acquiring an additional 369,559 shares during the last quarter. Pekin Hardy Strauss Inc. acquired a new position in shares of Maravai LifeSciences during the first quarter valued at about $55,000. Finally, VELA Investment Management LLC raised its holdings in shares of Maravai LifeSciences by 5.6% during the first quarter. VELA Investment Management LLC now owns 156,334 shares of the company's stock valued at $345,000 after purchasing an additional 8,222 shares during the period. Institutional investors own 50.25% of the company's stock.

Maravai LifeSciences Stock Down 5.1%

Shares of MRVI traded down $0.12 on Friday, reaching $2.22. The company's stock had a trading volume of 1,184,537 shares, compared to its average volume of 1,507,423. The company has a current ratio of 5.96, a quick ratio of 5.17 and a debt-to-equity ratio of 0.60. Maravai LifeSciences Holdings, Inc. has a twelve month low of $1.66 and a twelve month high of $9.95. The stock has a market capitalization of $565.35 million, a PE ratio of -1.95 and a beta of 0.28. The firm has a fifty day moving average of $2.40 and a 200-day moving average of $2.79.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last posted 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). Maravai LifeSciences had a negative return on equity of 12.91% and a negative net margin of 67.14%. The business had revenue of $46.85 million during the quarter, compared to analyst estimates of $44.01 million. The business's revenue was down 26.9% on a year-over-year basis. Equities analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.24 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Robert W. Baird dropped their price objective on shares of Maravai LifeSciences from $3.00 to $2.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Craig Hallum dropped their price objective on shares of Maravai LifeSciences from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. One equities 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. According to data from MarketBeat, Maravai LifeSciences presently has an average rating of "Hold" and an average price target 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.