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

Federated Hermes Inc. trimmed its position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 80.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,807 shares of the company’s stock after selling 189,696 shares during the quarter. Federated Hermes Inc.’s holdings in Maravai LifeSciences were worth $293,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Signaturefd LLC lifted its holdings in Maravai LifeSciences by 99.9% during the third quarter. Signaturefd LLC now owns 3,364 shares of the company’s stock worth $34,000 after acquiring an additional 1,681 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Maravai LifeSciences by 96.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 3,391 shares of the company’s stock worth $34,000 after purchasing an additional 1,662 shares during the period. Pinnacle Associates Ltd. bought a new position in shares of Maravai LifeSciences during the 4th quarter valued at about $69,000. Ieq Capital LLC acquired a new position in shares of Maravai LifeSciences in the 3rd quarter valued at approximately $110,000. Finally, Advisor Partners II LLC bought a new stake in Maravai LifeSciences during the 3rd quarter worth approximately $115,000. Institutional investors and hedge funds own 50.25% of the company’s stock.

Maravai LifeSciences Trading Up 1.9 %

Maravai LifeSciences stock opened at $8.97 on Friday. The company has a market cap of $2.26 billion, a price-to-earnings ratio of -9.97 and a beta of 0.03. The firm has a 50-day moving average of $8.04 and a 200-day moving average of $6.70. The company has a debt-to-equity ratio of 0.70, a current ratio of 8.00 and a quick ratio of 7.41. Maravai LifeSciences Holdings, Inc. has a one year low of $4.52 and a one year high of $16.62.

Maravai LifeSciences (NASDAQ:MRVI) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The company had revenue of $74.14 million for the quarter, compared to analyst estimates of $62.99 million. Maravai LifeSciences had a negative net margin of 41.19% and a negative return on equity of 1.31%. On average, equities analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MRVI has been the subject of several research analyst reports. Craig Hallum began coverage on shares of Maravai LifeSciences in a report on Wednesday, April 10th. They issued a “buy” rating and a $15.00 price target for the company. Royal Bank of Canada upped their target price on shares of 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 dropped their price target on Maravai LifeSciences from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Maravai LifeSciences currently has a consensus rating of “Moderate Buy” and a consensus price target 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.