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

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

A number of other institutional investors have also recently added to or reduced their stakes in MRVI. Alyeska Investment Group L.P. lifted its stake 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 valued at $29,045,000 after acquiring an additional 3,161,072 shares during the last quarter. Marshall Wace LLP lifted its stake 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 valued at $15,143,000 after acquiring an additional 2,763,072 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Maravai LifeSciences by 29.5% in the fourth 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 last quarter. CenterBook Partners LP acquired a new stake in Maravai LifeSciences in the fourth quarter valued at approximately $4,425,000. Finally, SG Americas Securities LLC lifted its stake 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 valued at $1,538,000 after acquiring an additional 662,861 shares during the last quarter. 50.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MRVI has been the subject of a number of analyst reports. Craig Hallum reduced their target price on shares of Maravai LifeSciences from $12.00 to $10.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Robert W. Baird reduced their price objective 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 issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $6.64.

Maravai LifeSciences Price Performance

Shares of Maravai LifeSciences stock opened at $2.69 on Monday. Maravai LifeSciences Holdings, Inc. has a 1-year low of $1.66 and a 1-year high of $10.03. The firm has a fifty day simple moving average of $2.38 and a 200-day simple moving average of $2.85. The stock has a market capitalization of $685.04 million, a price-to-earnings ratio of -2.36 and a beta of 0.28. 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 (NASDAQ:MRVI - Get Free Report) last announced its earnings results 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). Maravai LifeSciences had a negative return on equity of 12.91% and a negative net margin of 67.14%. The company had revenue of $46.85 million for the quarter, compared to the consensus estimate of $44.01 million. The firm's quarterly revenue was down 26.9% compared to the same quarter last year. On average, sell-side analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.24 earnings per share for the current year.

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.

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