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

Roubaix Capital LLC lessened its position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 45.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 237,747 shares of the company's stock after selling 198,471 shares during the period. Roubaix Capital LLC owned 0.09% of Maravai LifeSciences worth $1,976,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in Maravai LifeSciences by 310.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,585 shares of the company's stock valued at $26,000 after buying an additional 2,711 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Maravai LifeSciences during the 2nd quarter valued at $32,000. Headlands Technologies LLC purchased a new stake in Maravai LifeSciences during the 1st quarter worth about $42,000. Blue Trust Inc. bought a new position in Maravai LifeSciences in the 2nd quarter worth about $44,000. Finally, Custom Index Systems LLC purchased a new position in Maravai LifeSciences during the 3rd quarter valued at about $97,000. Hedge funds and other institutional investors own 50.25% of the company's stock.

Wall Street Analysts Forecast Growth

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

Maravai LifeSciences Price Performance

Shares of Maravai LifeSciences stock traded down $0.22 during trading on Thursday, hitting $7.41. 1,375,118 shares of the stock traded hands, compared to its average volume of 2,218,729. The firm's fifty day moving average is $8.30 and its 200-day moving average is $8.51. The stock has a market cap of $1.87 billion and a price-to-earnings ratio of -7.48. Maravai LifeSciences Holdings, Inc. has a 52 week low of $4.52 and a 52 week high of $11.56. The company has a quick ratio of 9.28, a current ratio of 10.00 and a debt-to-equity ratio of 0.71.

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

Maravai LifeSciences Company 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.