JPMorgan Chase & Co. Raises Position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

JPMorgan Chase & Co. grew its stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 1,172.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,050,245 shares of the company's stock after purchasing an additional 3,731,924 shares during the period. JPMorgan Chase & Co. owned approximately 1.60% of Maravai LifeSciences worth $33,658,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MRVI. Creative Planning boosted its stake in Maravai LifeSciences by 4.4% during the third quarter. Creative Planning now owns 44,943 shares of the company's stock worth $373,000 after buying an additional 1,881 shares during the period. Kornitzer Capital Management Inc. KS raised its holdings in shares of Maravai LifeSciences by 0.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 519,890 shares of the company's stock worth $4,320,000 after buying an additional 3,725 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Maravai LifeSciences in the second quarter worth approximately $32,000. Venturi Wealth Management LLC bought a new stake in shares of Maravai LifeSciences during the 3rd quarter worth approximately $47,000. Finally, Orion Portfolio Solutions LLC boosted its holdings in Maravai LifeSciences by 4.8% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 135,749 shares of the company's stock valued at $1,128,000 after acquiring an additional 6,177 shares during the period. Hedge funds and other institutional investors own 50.25% of the company's stock.

Maravai LifeSciences Stock Up 1.7 %

NASDAQ:MRVI traded up $0.10 during trading hours on Tuesday, reaching $6.05. The company's stock had a trading volume of 1,757,189 shares, compared to its average volume of 1,386,247. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. The company has a market capitalization of $1.53 billion, a P/E ratio of -3.69 and a beta of -0.07. The stock has a 50 day moving average price of $5.76 and a two-hundred day moving average price of $7.44. Maravai LifeSciences Holdings, Inc. has a 12 month low of $4.28 and a 12 month high of $11.56.

Insider Transactions at Maravai LifeSciences

In related news, insider Carl Hull bought 175,000 shares of the business's stock in a transaction on Monday, November 11th. The shares were bought at an average price of $5.64 per share, for a total transaction of $987,000.00. Following the completion of the purchase, the insider now directly owns 175,000 shares of the company's stock, valued at approximately $987,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.63% of the company's stock.

Wall Street Analysts Forecast Growth

MRVI has been the topic of a number of recent analyst reports. Robert W. Baird reduced their target price on Maravai LifeSciences from $10.00 to $9.00 and set an "outperform" rating on the stock in a research note on Friday, November 8th. Guggenheim began coverage on shares of Maravai LifeSciences in a report on Thursday, December 19th. They set a "neutral" rating for the company. The Goldman Sachs Group cut shares of Maravai LifeSciences from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $7.00 to $4.25 in a research report on Thursday, December 5th. Royal Bank of Canada decreased their price target on shares of Maravai LifeSciences from $17.00 to $13.00 and set an "outperform" rating for the company in a research note on Friday, November 8th. Finally, William Blair reissued a "market perform" rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Maravai LifeSciences has a consensus rating of "Hold" and an average price target of $10.28.

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.