Pier Capital LLC grew its position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 137.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,127,773 shares of the company's stock after purchasing an additional 651,921 shares during the period. Pier Capital LLC owned approximately 0.45% of Maravai LifeSciences worth $6,146,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in Maravai LifeSciences by 1,172.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company's stock worth $33,658,000 after buying an additional 3,731,924 shares in the last quarter. Barclays PLC increased its position in shares of Maravai LifeSciences by 349.2% during the third quarter. Barclays PLC now owns 184,189 shares of the company's stock worth $1,531,000 after acquiring an additional 143,184 shares during the last quarter. Systematic Financial Management LP lifted its stake in shares of Maravai LifeSciences by 14.7% in the third 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 in the last quarter. Empowered Funds LLC purchased a new position in Maravai LifeSciences in the fourth quarter valued at about $155,000. Finally, Bleakley Financial Group LLC increased its holdings in Maravai LifeSciences by 30.1% during the 4th quarter. Bleakley Financial Group LLC now owns 41,691 shares of the company's stock worth $227,000 after purchasing an additional 9,657 shares during the last quarter. 50.25% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, General Counsel Kurt Oreshack sold 25,000 shares of the firm's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $5.03, for a total transaction of $125,750.00. Following the transaction, the general counsel now directly owns 167,618 shares of the company's stock, valued at approximately $843,118.54. This trade represents a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.63% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on MRVI shares. Morgan Stanley decreased their price target on shares of Maravai LifeSciences from $7.00 to $5.00 and set an "equal weight" rating for the company in a research report on Tuesday. The Goldman Sachs Group lowered shares of Maravai LifeSciences from a "neutral" rating to a "sell" rating and cut their target price for the company from $7.00 to $4.25 in a research note on Thursday, December 5th. Guggenheim started coverage on Maravai LifeSciences in a research note on Thursday, December 19th. They issued a "neutral" rating for the company. Stifel Nicolaus set a $5.00 price objective on Maravai LifeSciences in a research note on Friday, March 21st. Finally, UBS Group decreased their target price on Maravai LifeSciences from $8.00 to $2.50 and set a "neutral" rating for the company in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $7.31.
Check Out Our Latest Stock Report on MRVI
Maravai LifeSciences Stock Performance
Shares of Maravai LifeSciences stock traded up $0.01 during trading on Friday, hitting $2.36. 2,820,403 shares of the stock were exchanged, compared to its average volume of 2,325,960. The stock has a market cap of $595.97 million, a PE ratio of -1.44 and a beta of -0.08. The stock's fifty day moving average is $3.73 and its 200 day moving average is $5.59. Maravai LifeSciences Holdings, Inc. has a 12 month low of $2.07 and a 12 month high of $11.56. 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 Profile
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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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