Seven Eight Capital LP Sells 45,341 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Seven Eight Capital LP cut its position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 75.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,712 shares of the company’s stock after selling 45,341 shares during the quarter. Seven Eight Capital LP’s holdings in Maravai LifeSciences were worth $105,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Jump Financial LLC bought a new stake in shares of Maravai LifeSciences during the 4th quarter valued at $225,000. Orion Portfolio Solutions LLC raised its stake in shares of Maravai LifeSciences by 54.6% during the 4th quarter. Orion Portfolio Solutions LLC now owns 100,720 shares of the company’s stock valued at $692,000 after purchasing an additional 35,564 shares during the period. Capstone Investment Advisors LLC raised its stake in shares of Maravai LifeSciences by 137.0% during the 4th quarter. Capstone Investment Advisors LLC now owns 73,415 shares of the company’s stock valued at $481,000 after purchasing an additional 42,434 shares during the period. Burgundy Asset Management Ltd. bought a new stake in shares of Maravai LifeSciences during the 4th quarter valued at $95,000. Finally, Aristides Capital LLC bought a new stake in shares of Maravai LifeSciences during the 4th quarter valued at $319,000. 50.25% of the stock is currently owned by institutional investors.

Maravai LifeSciences Price Performance

MRVI opened at $8.30 on Tuesday. The stock has a 50-day moving average price of $8.89 and a 200-day moving average price of $8.58. Maravai LifeSciences Holdings, Inc. has a 12-month low of $4.52 and a 12-month high of $11.56. The company has a current ratio of 10.00, a quick ratio of 9.28 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $2.09 billion, a P/E ratio of -8.38 and a beta of 0.01.

Maravai LifeSciences (NASDAQ:MRVI) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.08) earnings per share (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 analysts’ expectations of $71.64 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. Maravai LifeSciences’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on MRVI. Morgan Stanley lowered 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. Royal Bank of Canada reiterated 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 Maravai LifeSciences in a research note on Tuesday, August 27th. They set an “overweight” rating and a $10.00 price objective on the stock. The Goldman Sachs Group upped their target price on Maravai LifeSciences from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Finally, UBS Group upped their target price on Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.