JPMorgan Chase & Co. grew its holdings in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 4.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,250,656 shares of the company's stock after buying an additional 200,411 shares during the period. JPMorgan Chase & Co. owned approximately 1.68% of Maravai LifeSciences worth $23,166,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Maravai LifeSciences by 118.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 52,508 shares of the company's stock worth $298,000 after acquiring an additional 28,480 shares in the last quarter. Pier Capital LLC raised its holdings in shares of Maravai LifeSciences by 137.0% during the fourth quarter. Pier Capital LLC now owns 1,127,773 shares of the company's stock valued at $6,146,000 after purchasing an additional 651,921 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Maravai LifeSciences during the 4th quarter worth about $112,000. Cibc World Markets Corp bought a new position in shares of Maravai LifeSciences during the 4th quarter worth about $56,000. Finally, Performa Ltd US LLC grew its stake in shares of Maravai LifeSciences by 614.3% in the 4th quarter. Performa Ltd US LLC now owns 5,000 shares of the company's stock valued at $27,000 after buying an additional 4,300 shares during the period. Institutional investors and hedge funds own 50.25% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on MRVI. Robert W. Baird lowered Maravai LifeSciences from an "outperform" rating to a "neutral" rating and lowered their target price for the stock from $9.00 to $3.00 in a research report on Wednesday, February 26th. Guggenheim assumed coverage on shares of Maravai LifeSciences in a research report on Thursday, December 19th. They set a "neutral" rating on the stock. Morgan Stanley lowered their target price on Maravai LifeSciences from $7.00 to $5.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 25th. Bank of America dropped their price objective on Maravai LifeSciences from $9.00 to $8.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Finally, Stifel Nicolaus set a $5.00 price objective on shares of Maravai LifeSciences in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $6.34.
View Our Latest Analysis on Maravai LifeSciences
Insider Buying and Selling
In related news, General Counsel Kurt Oreshack sold 25,000 shares of the company's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $5.03, for a total value of $125,750.00. Following the completion of the transaction, the general counsel now directly owns 167,618 shares in the company, valued at approximately $843,118.54. The trade was a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.63% of the stock is owned by company insiders.
Maravai LifeSciences Price Performance
NASDAQ:MRVI traded down $0.05 during trading hours on Tuesday, hitting $1.73. 278,133 shares of the company's stock traded hands, compared to its average volume of 2,344,552. The firm has a market cap of $438.73 million, a P/E ratio of -1.06 and a beta of 0.18. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89. The business's fifty day simple moving average is $2.89 and its two-hundred day simple moving average is $4.98. Maravai LifeSciences Holdings, Inc. has a 52 week low of $1.70 and a 52 week high of $11.56.
Maravai LifeSciences Company Profile
(
Free Report)
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.
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