Royce & Associates LP Buys 369,559 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Royce & Associates LP raised its holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 38.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,328,444 shares of the company’s stock after purchasing an additional 369,559 shares during the period. Royce & Associates LP’s holdings in Maravai LifeSciences were worth $2,936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sherbrooke Park Advisers LLC bought a new stake in Maravai LifeSciences in the 4th quarter valued at $78,000. Teacher Retirement System of Texas bought a new stake in Maravai LifeSciences in the 1st quarter valued at $37,000. Townsquare Capital LLC bought a new stake in Maravai LifeSciences in the 4th quarter valued at $103,000. KLP Kapitalforvaltning AS bought a new stake in Maravai LifeSciences in the 4th quarter valued at $112,000. Finally, Pekin Hardy Strauss Inc. bought a new stake in Maravai LifeSciences in the 1st quarter valued at $55,000. Institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Stock Down 0.7%

Shares of NASDAQ MRVI opened at $2.69 on Monday. The firm’s 50-day simple moving average is $2.38 and its 200 day simple moving average is $2.85. The company has a market cap of $685.04 million, a price-to-earnings ratio of -2.36 and a beta of 0.28. The company has a quick ratio of 5.17, a current ratio of 5.96 and a debt-to-equity ratio of 0.60. Maravai LifeSciences Holdings, Inc. has a 12-month low of $1.66 and a 12-month high of $10.03.

Maravai LifeSciences (NASDAQ:MRVI) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The company 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 12.91% and a negative net margin of 67.14%. The company’s revenue for the quarter was down 26.9% on a year-over-year basis. On average, research analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

MRVI has been the topic of several analyst reports. Craig Hallum lowered their price target on shares of Maravai LifeSciences from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Robert W. Baird lowered their target price 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. One 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.com, the company currently has an average 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.