Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Shares Purchased by Delta Investment Management LLC

Delta Investment Management LLC raised its holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 285.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 332,993 shares of the company’s stock after purchasing an additional 246,592 shares during the period. Delta Investment Management LLC owned about 0.13% of Maravai LifeSciences worth $1,815,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MRVI. Alyeska Investment Group L.P. raised 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 purchasing an additional 3,161,072 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Maravai LifeSciences by 29.5% during 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 buying an additional 1,062,485 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Maravai LifeSciences by 4.9% in the 4th quarter. JPMorgan Chase & Co. now owns 4,250,656 shares of the company’s stock worth $23,166,000 after acquiring an additional 200,411 shares in the last quarter. Ameriprise Financial Inc. lifted its stake 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 purchasing an additional 62,123 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in 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 period. Institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Stock Performance

Shares of NASDAQ MRVI opened at $2.17 on Tuesday. Maravai LifeSciences Holdings, Inc. has a 1 year low of $1.67 and a 1 year high of $11.50. The firm has a market cap of $552.61 million, a P/E ratio of -1.32 and a beta of 0.19. The stock has a fifty day moving average price of $2.09 and a two-hundred day moving average price of $3.97. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74.

Maravai LifeSciences (NASDAQ:MRVI) last released 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). The firm had revenue of $46.85 million for the quarter, compared to analyst estimates of $44.01 million. Maravai LifeSciences had a negative return on equity of 6.61% and a negative net margin of 81.13%. The firm’s quarterly revenue was down 26.9% compared to the same quarter last year. Research analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MRVI shares. Stifel Nicolaus set a $5.00 price target on shares of Maravai LifeSciences in a research report on Friday, March 21st. Robert W. Baird decreased their target price on Maravai LifeSciences from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Craig Hallum cut their price target on Maravai LifeSciences from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Baird R W downgraded Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, Bank of America cut their target price on Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $6.64.

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.