PenderFund Capital Management Ltd. Raises Position in Maravai LifeSciences Holdings, Inc. $MRVI

Key Points

• PenderFund Capital Management Ltd. increased its stake in Maravai LifeSciences Holdings, Inc. by 42.4%, acquiring an additional 246,000 shares in the first quarter, bringing its total ownership to 826,300 shares.
• Multiple analysts have lowered price targets for Maravai LifeSciences, with Craig Hallum reducing its target from $12.00 to $10.00, indicating a "buy" rating, while Robert W. Baird set a target of $2.00 with a "neutral" rating.
• As of the latest report, Maravai LifeSciences has a market capitalization of $640.95 million and the stock is trading significantly below its 52-week high of $9.60, currently at $2.51.

PenderFund Capital Management Ltd. boosted its position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 42.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 826,300 shares of the company's stock after acquiring an additional 246,000 shares during the quarter. PenderFund Capital Management Ltd. owned 0.32% of Maravai LifeSciences worth $1,826,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in MRVI. Price T Rowe Associates Inc. MD grew its stake in shares of Maravai LifeSciences by 12.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 70,828 shares of the company's stock valued at $387,000 after purchasing an additional 7,946 shares during the last quarter. VELA Investment Management LLC lifted 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 worth $345,000 after purchasing an additional 8,222 shares during the period. Performa Ltd US LLC lifted its holdings in shares of Maravai LifeSciences by 245.0% during the first quarter. Performa Ltd US LLC now owns 17,250 shares of the company's stock worth $38,000 after purchasing an additional 12,250 shares during the period. Sherbrooke Park Advisers LLC purchased a new position in Maravai LifeSciences in the 4th quarter valued at $78,000. Finally, EntryPoint Capital LLC acquired a new position in Maravai LifeSciences in the 1st quarter valued at $32,000. Hedge funds and other institutional investors own 50.25% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada dropped their price target on shares of Maravai LifeSciences from $7.00 to $5.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Maravai LifeSciences presently has a consensus rating of "Hold" and a consensus target price of $5.22.

Maravai LifeSciences Price Performance

Shares of NASDAQ:MRVI traded up $0.19 during midday trading on Thursday, hitting $2.79. 981,588 shares of the stock were exchanged, compared to its average volume of 2,292,276. Maravai LifeSciences Holdings, Inc. has a twelve month low of $1.66 and a twelve month high of $9.50. The company has a current ratio of 5.16, a quick ratio of 4.49 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average price of $2.49 and a 200-day moving average price of $2.35. The stock has a market cap of $712.45 million, a P/E ratio of -2.05 and a beta of 0.29.

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.