Royce & Associates LP Buys 369,559 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Key Points

• Royce & Associates LP increased its holdings in Maravai LifeSciences by 38.5%, acquiring an additional 369,559 shares, bringing its total ownership to 1,328,444 shares valued at approximately $2.94 million.
• Maravai LifeSciences reported a quarterly revenue of $46.85 million, exceeding analysts' estimates, but posted a loss of ($0.08) earnings per share, which was below the consensus estimate of ($0.07).
• Analyst ratings for Maravai LifeSciences show a consensus rating of "Hold", with a price target averaging $6.64; however, recent targets from analysts have been lowered significantly.

Royce & Associates LP grew its position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 38.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,328,444 shares of the company's stock after buying an additional 369,559 shares during the quarter. Royce & Associates LP owned approximately 0.52% of Maravai LifeSciences worth $2,936,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of MRVI. Teacher Retirement System of Texas bought a new stake in shares of Maravai LifeSciences during the first quarter worth $37,000. Pekin Hardy Strauss Inc. bought a new stake in Maravai LifeSciences during the 1st quarter worth about $55,000. Simplicity Wealth LLC bought a new position in Maravai LifeSciences in the first quarter valued at about $67,000. Sherbrooke Park Advisers LLC bought a new position in Maravai LifeSciences in the fourth quarter valued at about $78,000. Finally, Townsquare Capital LLC bought a new position in shares of Maravai LifeSciences in the 4th quarter valued at about $103,000. 50.25% of the stock is currently owned by institutional investors.

Maravai LifeSciences Price Performance

MRVI stock traded up $0.01 during mid-day trading on Thursday, hitting $2.42. The stock had a trading volume of 351,651 shares, compared to its average volume of 2,477,218. Maravai LifeSciences Holdings, Inc. has a 52 week low of $1.66 and a 52 week high of $10.03. The firm has a fifty day simple moving average of $2.40 and a 200 day simple moving average of $2.83. The company has a current ratio of 5.96, a quick ratio of 5.17 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $615.00 million, a P/E ratio of -2.12 and a beta of 0.28.

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 for the quarter, compared to the consensus estimate of $44.01 million. Maravai LifeSciences's revenue for the quarter was down 26.9% on a year-over-year basis. As a group, research analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.24 EPS for the current year.

Analyst Ratings Changes

MRVI has been the topic of several recent research reports. Craig Hallum reduced their target price on shares of Maravai LifeSciences from $12.00 to $10.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Robert W. Baird reduced their target price on Maravai LifeSciences from $3.00 to $2.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $6.64.

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.