Lazard Asset Management LLC Has $2.40 Million Stock Position in Maravai LifeSciences Holdings, Inc. $MRVI

Lazard Asset Management LLC reduced its holdings in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 16.8% in the 1st quarter, Holdings Channel.com reports. The fund owned 847,799 shares of the company’s stock after selling 170,919 shares during the period. Lazard Asset Management LLC’s holdings in Maravai LifeSciences were worth $2,399,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MRVI. Renaissance Technologies LLC boosted its holdings in Maravai LifeSciences by 0.9% during the first quarter. Renaissance Technologies LLC now owns 4,264,689 shares of the company’s stock worth $12,069,000 after purchasing an additional 39,600 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Maravai LifeSciences in the 1st quarter valued at $238,000. Dimensional Fund Advisors LP lifted its position in Maravai LifeSciences by 64.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,418,597 shares of the company’s stock worth $4,015,000 after buying an additional 558,050 shares in the last quarter. Brummer Multi Strategy AB lifted its position in Maravai LifeSciences by 66.0% during the 1st quarter. Brummer Multi Strategy AB now owns 759,743 shares of the company’s stock worth $2,150,000 after buying an additional 302,036 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Maravai LifeSciences by 2.7% during the 1st quarter. Bank of New York Mellon Corp now owns 343,643 shares of the company’s stock worth $973,000 after buying an additional 8,955 shares during the last quarter. 50.25% of the stock is currently owned by institutional investors and hedge funds.

Maravai LifeSciences Stock Performance

Shares of NASDAQ:MRVI opened at $6.57 on Monday. Maravai LifeSciences Holdings, Inc. has a 12-month low of $1.99 and a 12-month high of $7.44. The stock has a market cap of $1.70 billion, a PE ratio of -9.25 and a beta of 0.65. The business has a 50 day moving average of $5.80 and a 200-day moving average of $4.30. The company has a quick ratio of 4.96, a current ratio of 5.91 and a debt-to-equity ratio of 0.72.

Maravai LifeSciences (NASDAQ:MRVI) last announced its earnings results on Thursday, May 7th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.06. The company had revenue of $65.84 million for the quarter, compared to analyst estimates of $53.00 million. Maravai LifeSciences had a negative return on equity of 17.87% and a negative net margin of 51.07%. As a group, equities research analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.2 earnings per share for the current year.

Insider Buying and Selling

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $5.06, for a total transaction of $126,500.00. Following the transaction, the general counsel owned 360,767 shares in the company, valued at $1,825,481.02. This trade represents a 6.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.49% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MRVI shares. Wall Street Zen cut Maravai LifeSciences from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings upgraded Maravai LifeSciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 29th. Wells Fargo & Company raised their price target on Maravai LifeSciences from $4.50 to $5.50 and gave the company an “overweight” rating in a research note on Friday, May 8th. UBS Group reaffirmed a “reduce” rating on shares of Maravai LifeSciences in a research report on Wednesday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $6.00 price target on shares of Maravai LifeSciences in a research report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Maravai LifeSciences currently has a consensus rating of “Hold” and a consensus target price of $5.50.

About Maravai LifeSciences

Maravai LifeSciences Holdings, Inc (NASDAQ: MRVI) is a life sciences company specializing in the development and supply of critical reagents and services for the development and manufacture of biologic therapies. The company’s offerings support a range of applications in genomics, molecular diagnostics, vaccine development and next-generation sequencing. Maravai’s platforms address key challenges in nucleic acid production, protein detection, epigenetic analysis and reagent quality across the biopharmaceutical industry.

Through its product portfolio, which includes proprietary mRNA capping reagents, lipid nanoparticle delivery systems, synthetic oligonucleotides and high-precision assay kits, Maravai enables customers to accelerate research and streamline manufacturing workflows.