Amalgamated Bank Cuts Stock Holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Amalgamated Bank lowered its stake in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 82.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,871 shares of the company’s stock after selling 17,967 shares during the quarter. Amalgamated Bank’s holdings in Maravai LifeSciences were worth $28,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of Maravai LifeSciences by 310.2% during the second quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock worth $26,000 after purchasing an additional 2,711 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Maravai LifeSciences during the first quarter worth $42,000. Blue Trust Inc. acquired a new position in shares of Maravai LifeSciences during the second quarter worth $44,000. Delap Wealth Advisory LLC acquired a new position in shares of Maravai LifeSciences during the first quarter worth $106,000. Finally, Quent Capital LLC grew its stake in shares of Maravai LifeSciences by 26,315.8% during the first quarter. Quent Capital LLC now owns 15,057 shares of the company’s stock worth $131,000 after purchasing an additional 15,000 shares in the last quarter. Hedge funds and other institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Price Performance

Shares of NASDAQ:MRVI opened at $7.90 on Thursday. The company has a 50-day simple moving average of $8.81 and a 200-day simple moving average of $8.61. Maravai LifeSciences Holdings, Inc. has a one year low of $4.52 and a one year high of $11.56. The company has a debt-to-equity ratio of 0.71, a quick ratio of 9.28 and a current ratio of 10.00. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of -7.98 and a beta of 0.01.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MRVI. The Goldman Sachs Group boosted their target price on shares of Maravai LifeSciences from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Wells Fargo & Company assumed coverage on shares of Maravai LifeSciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price objective for the company. UBS Group upped their price objective on shares of 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 downgraded shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $11.00 to $10.00 in a research note on Tuesday, August 13th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $15.00 price objective on shares of Maravai LifeSciences in a research note on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $10.78.

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.