Pekin Hardy Strauss Inc. Invests $55,000 in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Pekin Hardy Strauss Inc. purchased a new position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) in the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 25,000 shares of the company’s stock, valued at approximately $55,000.

Several other hedge funds have also recently modified their holdings of the business. Victory Capital Management Inc. increased its stake in Maravai LifeSciences by 65.1% during the 4th quarter. Victory Capital Management Inc. now owns 96,273 shares of the company’s stock valued at $525,000 after purchasing an additional 37,946 shares in the last quarter. Atria Investments Inc acquired a new stake in Maravai LifeSciences during the fourth quarter worth about $58,000. Wealthfront Advisers LLC acquired a new stake in shares of Maravai LifeSciences during the fourth quarter valued at about $1,046,000. Farther Finance Advisors LLC grew its holdings in shares of Maravai LifeSciences by 3,541.4% in the fourth quarter. Farther Finance Advisors LLC now owns 10,196 shares of the company’s stock valued at $56,000 after purchasing an additional 9,916 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Maravai LifeSciences by 14.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 447,994 shares of the company’s stock worth $2,442,000 after acquiring an additional 57,727 shares in the last quarter. Hedge funds and other institutional investors own 50.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MRVI. Stifel Nicolaus set a $5.00 price objective on shares of Maravai LifeSciences in a research report on Friday, March 21st. Craig Hallum decreased their target price on shares of Maravai LifeSciences from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Robert W. Baird decreased their price target on shares of Maravai LifeSciences from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. UBS Group decreased their price target on shares of Maravai LifeSciences from $8.00 to $2.50 and set a “neutral” rating on the stock in a report on Friday, March 21st. Finally, Morgan Stanley cut their price objective on shares of Maravai LifeSciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.64.

Maravai LifeSciences Trading Up 6.2%

Shares of MRVI stock opened at $2.76 on Wednesday. The company has a quick ratio of 5.17, a current ratio of 5.96 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $702.86 million, a P/E ratio of -2.42 and a beta of 0.28. Maravai LifeSciences Holdings, Inc. has a 12-month low of $1.67 and a 12-month high of $10.03. The firm has a 50-day moving average price of $2.24 and a 200 day moving average price of $3.14.

Maravai LifeSciences (NASDAQ:MRVI) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Maravai LifeSciences had a negative net margin of 67.14% and a negative return on equity of 12.91%. The company had revenue of $46.85 million during 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. Research analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.24 earnings per share for the current fiscal 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.