Lazard Asset Management LLC Increases Stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Lazard Asset Management LLC lifted its stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 9.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,447,714 shares of the company's stock after buying an additional 127,672 shares during the quarter. Lazard Asset Management LLC owned approximately 0.57% of Maravai LifeSciences worth $7,890,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. acquired a new stake in Maravai LifeSciences in the fourth quarter valued at approximately $501,000. FORA Capital LLC acquired a new stake in Maravai LifeSciences in the 4th quarter valued at $156,000. Bamco Inc. NY increased its holdings in Maravai LifeSciences by 3.8% in the 4th quarter. Bamco Inc. NY now owns 2,203,651 shares of the company's stock worth $12,010,000 after acquiring an additional 80,000 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Maravai LifeSciences during the fourth quarter worth $362,000. Finally, Ameriprise Financial Inc. raised its position in Maravai LifeSciences by 1.8% during the fourth quarter. Ameriprise Financial Inc. now owns 3,611,625 shares of the company's stock worth $19,683,000 after acquiring an additional 62,123 shares during the period. 50.25% of the stock is owned by institutional investors and hedge funds.

Maravai LifeSciences Trading Up 0.7%

Shares of NASDAQ:MRVI traded up $0.02 during midday trading on Tuesday, reaching $2.19. 295,296 shares of the company's stock were exchanged, compared to its average volume of 2,338,590. The stock has a market cap of $556.43 million, a price-to-earnings ratio of -1.33 and a beta of 0.19. Maravai LifeSciences Holdings, Inc. has a fifty-two week low of $1.67 and a fifty-two week high of $11.50. The firm's 50 day simple moving average is $2.09 and its two-hundred day simple moving average is $3.97. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last announced its quarterly 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 net margin of 81.13% and a negative return on equity of 6.61%. The company had revenue of $46.85 million for the quarter, compared to analyst estimates of $44.01 million. The company's revenue was down 26.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MRVI has been the subject of several research analyst reports. Craig Hallum reduced their price target on shares of Maravai LifeSciences from $12.00 to $10.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Bank of America reduced their target price on Maravai LifeSciences from $9.00 to $8.00 and set a "buy" rating for the company in a report on Monday, March 3rd. UBS Group dropped their price target on Maravai LifeSciences from $8.00 to $2.50 and set a "neutral" rating for the company in a research report on Friday, March 21st. Baird R W downgraded Maravai LifeSciences from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus set a $5.00 target price on shares of Maravai LifeSciences in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus 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.