Federated Hermes Inc. Sells 189,696 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Federated Hermes Inc. decreased its holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 80.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,807 shares of the company’s stock after selling 189,696 shares during the period. Federated Hermes Inc.’s holdings in Maravai LifeSciences were worth $293,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. 12 West Capital Management LP lifted its holdings 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 worth $64,631,000 after purchasing an additional 3,101,275 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Maravai LifeSciences by 4.8% during the fourth quarter. Mackenzie Financial Corp now owns 5,169,176 shares of the company’s stock worth $33,858,000 after acquiring an additional 238,335 shares during the last quarter. Braidwell LP boosted its position in shares of Maravai LifeSciences by 120.3% during the third quarter. Braidwell LP now owns 3,974,857 shares of the company’s stock worth $39,749,000 after acquiring an additional 2,170,157 shares during the last quarter. Pacer Advisors Inc. grew its stake in Maravai LifeSciences by 37.8% during the fourth quarter. Pacer Advisors Inc. now owns 2,955,230 shares of the company’s stock valued at $19,357,000 after acquiring an additional 810,957 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in Maravai LifeSciences by 43.3% in the 3rd quarter. Jennison Associates LLC now owns 2,547,753 shares of the company’s stock valued at $25,478,000 after acquiring an additional 769,362 shares during the last quarter. Institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Stock Performance

NASDAQ MRVI opened at $8.97 on Friday. The business’s 50 day moving average price is $8.04 and its 200-day moving average price is $6.70. Maravai LifeSciences Holdings, Inc. has a fifty-two week low of $4.52 and a fifty-two week high of $16.62. The company has a market cap of $2.26 billion, a P/E ratio of -9.97 and a beta of 0.03. The company has a debt-to-equity ratio of 0.70, a quick ratio of 7.41 and a current ratio of 8.00.

Maravai LifeSciences (NASDAQ:MRVI) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). Maravai LifeSciences had a negative net margin of 41.19% and a negative return on equity of 1.31%. The firm had revenue of $74.14 million for the quarter, compared to the consensus estimate of $62.99 million. Sell-side analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on MRVI shares. Craig Hallum assumed coverage on Maravai LifeSciences in a research report on Wednesday, April 10th. They set a “buy” rating and a $15.00 price objective for the company. Royal Bank of Canada lifted their price objective on Maravai LifeSciences from $12.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Finally, Stifel Nicolaus lowered their target price on Maravai LifeSciences from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.56.

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.