Two Sigma Advisers LP Sells 453,000 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Two Sigma Advisers LP trimmed its holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 67.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 216,500 shares of the company's stock after selling 453,000 shares during the quarter. Two Sigma Advisers LP owned 0.09% of Maravai LifeSciences worth $1,180,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Alyeska Investment Group L.P. lifted its stake in shares of Maravai LifeSciences by 145.8% in 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 last quarter. Massachusetts Financial Services Co. MA increased its stake in Maravai LifeSciences by 29.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,664,210 shares of the company's stock worth $25,420,000 after purchasing an additional 1,062,485 shares during the period. JPMorgan Chase & Co. lifted its position in Maravai LifeSciences by 4.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,250,656 shares of the company's stock valued at $23,166,000 after purchasing an additional 200,411 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Maravai LifeSciences by 1.8% during the fourth quarter. Ameriprise Financial Inc. now owns 3,611,625 shares of the company's stock valued at $19,683,000 after purchasing an additional 62,123 shares during the period. Finally, Jennison Associates LLC grew its holdings in shares of Maravai LifeSciences by 0.3% in the fourth quarter. Jennison Associates LLC now owns 2,990,414 shares of the company's stock worth $16,298,000 after purchasing an additional 9,769 shares during the last quarter. Hedge funds and other institutional investors own 50.25% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MRVI shares. Bank of America dropped their price target on shares of Maravai LifeSciences from $9.00 to $8.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Stifel Nicolaus set a $5.00 target price on Maravai LifeSciences in a research note on Friday, March 21st. UBS Group reduced their price target on Maravai LifeSciences from $8.00 to $2.50 and set a "neutral" rating on the stock in a report on Friday, March 21st. Morgan Stanley dropped their price objective on Maravai LifeSciences from $7.00 to $5.00 and set an "equal weight" rating for the company in a report on Tuesday, March 25th. Finally, Craig Hallum reduced their target price on Maravai LifeSciences from $12.00 to $10.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $6.64.

Maravai LifeSciences Stock Up 0.9%

MRVI stock traded up $0.02 during midday trading on Wednesday, hitting $2.24. The stock had a trading volume of 128,714 shares, compared to its average volume of 2,327,647. The business has a 50-day moving average of $2.05 and a two-hundred day moving average of $3.67. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. The firm has a market cap of $570.18 million, a price-to-earnings ratio of -1.37 and a beta of 0.25. Maravai LifeSciences Holdings, Inc. has a 52-week low of $1.67 and a 52-week high of $10.03.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.01). The business had revenue of $46.85 million for the quarter, compared to the consensus estimate of $44.01 million. Maravai LifeSciences had a negative net margin of 81.13% and a negative return on equity of 6.61%. The business's revenue was down 26.9% on a year-over-year basis. As a group, equities research analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.24 earnings per share for the current fiscal year.

Maravai LifeSciences 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.