Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Short Interest Update

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) saw a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 5,120,000 shares, a decline of 30.3% from the March 15th total of 7,350,000 shares. Based on an average daily volume of 2,740,000 shares, the days-to-cover ratio is currently 1.9 days. Currently, 4.8% of the shares of the company are short sold.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Craig Hallum assumed coverage on shares of Maravai LifeSciences in a report on Wednesday. They issued a "buy" rating and a $15.00 target price on the stock. Royal Bank of Canada lifted their target price on shares of Maravai LifeSciences from $12.00 to $14.00 and gave the company an "outperform" rating in a report on Friday, February 23rd. Finally, Stifel Nicolaus lowered their target price on shares of Maravai LifeSciences from $11.00 to $10.00 and set a "buy" rating on the stock in a report on Friday, February 23rd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $11.56.

Institutional Investors Weigh In On Maravai LifeSciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans grew its stake in Maravai LifeSciences by 32.6% in the 1st quarter. Thrivent Financial for Lutherans now owns 8,189,798 shares of the company's stock valued at $114,739,000 after buying an additional 2,011,683 shares during the last quarter. 12 West Capital Management LP grew its stake in Maravai LifeSciences by 92.2% in the 3rd quarter. 12 West Capital Management LP now owns 6,463,111 shares of the company's stock valued at $64,631,000 after buying an additional 3,101,275 shares during the last quarter. BlackRock Inc. grew its stake in Maravai LifeSciences by 2.2% in the 1st quarter. BlackRock Inc. now owns 5,899,915 shares of the company's stock valued at $82,658,000 after buying an additional 126,007 shares during the last quarter. Mackenzie Financial Corp grew its stake in Maravai LifeSciences by 4.8% in the 4th quarter. Mackenzie Financial Corp now owns 5,169,176 shares of the company's stock valued at $33,858,000 after buying an additional 238,335 shares during the last quarter. Finally, Braidwell LP grew its stake in Maravai LifeSciences by 26.8% in the 4th quarter. Braidwell LP now owns 5,040,635 shares of the company's stock valued at $33,016,000 after buying an additional 1,065,778 shares during the last quarter. 50.25% of the stock is owned by institutional investors.

Maravai LifeSciences Price Performance

MRVI traded down $0.19 during midday trading on Friday, reaching $8.40. 1,257,184 shares of the company's stock were exchanged, compared to its average volume of 2,680,618. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of -9.33 and a beta of 0.01. The company has a quick ratio of 7.41, a current ratio of 8.00 and a debt-to-equity ratio of 0.70. Maravai LifeSciences has a one year low of $4.52 and a one year high of $16.62. The business has a 50-day simple moving average of $7.32 and a two-hundred day simple moving average of $6.81.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last released its earnings results on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.01). Maravai LifeSciences had a negative return on equity of 1.31% and a negative net margin of 41.19%. The business had revenue of $74.14 million for the quarter, compared to analyst estimates of $62.99 million. As a group, research analysts predict that Maravai LifeSciences will post -0.15 EPS for the current year.

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.

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