Tower Research Capital LLC TRC Sells 8,936 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Tower Research Capital LLC TRC cut its stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 59.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,098 shares of the company’s stock after selling 8,936 shares during the period. Tower Research Capital LLC TRC’s holdings in Maravai LifeSciences were worth $40,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. raised its holdings in Maravai LifeSciences by 96.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,391 shares of the company’s stock valued at $34,000 after acquiring an additional 1,662 shares in the last quarter. Signaturefd LLC raised its holdings in Maravai LifeSciences by 99.9% in the 3rd quarter. Signaturefd LLC now owns 3,364 shares of the company’s stock valued at $34,000 after acquiring an additional 1,681 shares in the last quarter. Wellington Management Group LLP raised its holdings in Maravai LifeSciences by 2.6% in the 3rd quarter. Wellington Management Group LLP now owns 70,658 shares of the company’s stock valued at $707,000 after acquiring an additional 1,779 shares in the last quarter. Swiss National Bank raised its holdings in Maravai LifeSciences by 1.1% in the 3rd quarter. Swiss National Bank now owns 246,500 shares of the company’s stock valued at $2,465,000 after acquiring an additional 2,600 shares in the last quarter. Finally, M&T Bank Corp raised its holdings in Maravai LifeSciences by 17.3% in the 4th quarter. M&T Bank Corp now owns 20,107 shares of the company’s stock valued at $131,000 after acquiring an additional 2,972 shares in the last quarter. 50.25% of the stock is owned by institutional investors and hedge funds.

Maravai LifeSciences Price Performance

MRVI traded up $0.38 on Thursday, reaching $8.80. The stock had a trading volume of 1,426,233 shares, compared to its average volume of 2,507,551. Maravai LifeSciences Holdings, Inc. has a fifty-two week low of $4.52 and a fifty-two week high of $16.62. The firm has a 50-day moving average of $7.96 and a 200-day moving average of $6.67. The company has a current ratio of 8.00, a quick ratio of 7.41 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of -9.66 and a beta of 0.03.

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

Wall Street Analysts Forecast Growth

MRVI has been the subject of several analyst reports. Royal Bank of Canada lifted their price objective on Maravai LifeSciences from $12.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Craig Hallum initiated coverage on Maravai LifeSciences in a report on Wednesday, April 10th. They set a “buy” rating and a $15.00 price target for the company. Finally, Stifel Nicolaus lowered their price target on Maravai LifeSciences from $11.00 to $10.00 and set a “buy” rating for the company in a report on Friday, February 23rd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.56.

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.