Roubaix Capital LLC Lowers Stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Roubaix Capital LLC cut its stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 45.5% in the 3rd quarter, Holdings Channel reports. The fund owned 237,747 shares of the company’s stock after selling 198,471 shares during the quarter. Roubaix Capital LLC’s holdings in Maravai LifeSciences were worth $1,976,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Maravai LifeSciences by 74.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 27,225 shares of the company’s stock worth $226,000 after purchasing an additional 11,621 shares in the last quarter. Custom Index Systems LLC purchased a new position in Maravai LifeSciences in the 3rd quarter worth $97,000. E. Ohman J or Asset Management AB lifted its stake in Maravai LifeSciences by 28.8% in the third quarter. E. Ohman J or Asset Management AB now owns 232,751 shares of the company’s stock worth $1,934,000 after purchasing an additional 52,000 shares during the last quarter. Blue Trust Inc. boosted its position in Maravai LifeSciences by 181.1% during the third quarter. Blue Trust Inc. now owns 17,409 shares of the company’s stock valued at $145,000 after buying an additional 11,215 shares during the period. Finally, Bleakley Financial Group LLC grew its stake in shares of Maravai LifeSciences by 38.3% during the third quarter. Bleakley Financial Group LLC now owns 32,034 shares of the company’s stock valued at $266,000 after buying an additional 8,863 shares during the last quarter. Institutional investors own 50.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MRVI shares. UBS Group boosted their target price on Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Morgan Stanley lowered Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $11.00 to $10.00 in a research note on Tuesday, August 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $15.00 target price on shares of Maravai LifeSciences in a research note on Friday, August 16th. The Goldman Sachs Group cut their price target on shares of Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, October 8th. Finally, Wells Fargo & Company initiated coverage on shares of Maravai LifeSciences in a research note on Tuesday, August 27th. They set an “overweight” rating and a $10.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.67.

Maravai LifeSciences Trading Up 7.3 %

Shares of MRVI stock opened at $7.63 on Thursday. The company has a current ratio of 10.00, a quick ratio of 9.28 and a debt-to-equity ratio of 0.71. Maravai LifeSciences Holdings, Inc. has a 12-month low of $4.52 and a 12-month high of $11.56. The stock has a market capitalization of $1.92 billion and a P/E ratio of -7.71. The firm’s 50 day moving average is $8.33 and its 200 day moving average is $8.52.

Maravai LifeSciences (NASDAQ:MRVI) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter. Maravai LifeSciences had a negative return on equity of 4.78% and a negative net margin of 47.41%. The firm had revenue of $73.40 million during the quarter, compared to the consensus estimate of $71.64 million. During the same period in the previous year, the firm earned ($0.06) EPS. The business’s revenue was up 6.5% on a year-over-year basis. Research analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.17 earnings per share for the current year.

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.