Barclays PLC Raises Stock Holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Barclays PLC raised its position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 349.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 184,189 shares of the company's stock after purchasing an additional 143,184 shares during the period. Barclays PLC owned 0.07% of Maravai LifeSciences worth $1,531,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MRVI. Bank of New York Mellon Corp lifted its holdings in shares of Maravai LifeSciences by 30.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 506,413 shares of the company's stock worth $3,626,000 after acquiring an additional 117,120 shares during the last quarter. Dragoneer Investment Group LLC purchased a new position in shares of Maravai LifeSciences in the 2nd quarter worth about $5,373,000. Royce & Associates LP boosted its holdings in shares of Maravai LifeSciences by 130.4% in the 3rd quarter. Royce & Associates LP now owns 908,778 shares of the company's stock worth $7,552,000 after purchasing an additional 514,332 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Maravai LifeSciences by 16.8% during the 2nd quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company's stock valued at $41,962,000 after buying an additional 844,325 shares in the last quarter. Finally, Systematic Financial Management LP lifted its holdings in shares of Maravai LifeSciences by 14.7% in the 3rd quarter. Systematic Financial Management LP now owns 1,612,161 shares of the company's stock worth $13,397,000 after acquiring an additional 206,499 shares during the last quarter. 50.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MRVI shares. The Goldman Sachs Group lowered Maravai LifeSciences from a "neutral" rating to a "sell" rating and dropped their price objective for the company from $7.00 to $4.25 in a research note on Thursday, December 5th. Guggenheim initiated coverage on shares of Maravai LifeSciences in a report on Thursday, December 19th. They issued a "neutral" rating on the stock. Royal Bank of Canada lowered their price objective 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. Wolfe Research started coverage on Maravai LifeSciences in a research note on Thursday, November 14th. They issued a "peer perform" rating on the stock. Finally, William Blair restated a "market perform" rating on shares of Maravai LifeSciences in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $10.28.

Insider Buying and Selling at Maravai LifeSciences

In related news, insider Carl Hull bought 175,000 shares of the stock in a transaction dated Monday, November 11th. The shares were purchased at an average price of $5.64 per share, with a total value of $987,000.00. Following the completion of the acquisition, the insider now owns 175,000 shares of the company's stock, valued at $987,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.63% of the company's stock.

Maravai LifeSciences Price Performance

Shares of NASDAQ MRVI traded up $0.08 during midday trading on Monday, reaching $4.93. The stock had a trading volume of 2,753,327 shares, compared to its average volume of 2,315,590. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -3.01 and a beta of -0.07. Maravai LifeSciences Holdings, Inc. has a 12-month low of $4.28 and a 12-month high of $11.56. The stock has a 50-day moving average of $5.59 and a 200-day moving average of $7.40. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74.

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.