Massachusetts Financial Services Co. MA grew its stake in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 29.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,664,210 shares of the company's stock after purchasing an additional 1,062,485 shares during the period. Massachusetts Financial Services Co. MA owned about 1.85% of Maravai LifeSciences worth $25,420,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MRVI. Performa Ltd US LLC boosted its position in shares of Maravai LifeSciences by 614.3% during the fourth 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 last quarter. FNY Investment Advisers LLC lifted its stake in Maravai LifeSciences by 600.0% during the 4th quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company's stock valued at $38,000 after acquiring an additional 6,000 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Maravai LifeSciences by 3,541.4% during the 4th quarter. Farther Finance Advisors LLC now owns 10,196 shares of the company's stock worth $56,000 after acquiring an additional 9,916 shares during the last quarter. Cibc World Markets Corp bought a new stake in shares of Maravai LifeSciences in the 4th quarter worth $56,000. Finally, Atria Investments Inc purchased a new stake in shares of Maravai LifeSciences in the fourth quarter valued at about $58,000. 50.25% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on MRVI. Guggenheim began coverage on shares of Maravai LifeSciences in a research report on Thursday, December 19th. They issued a "neutral" rating for the company. Bank of America reduced their target price on Maravai LifeSciences from $9.00 to $8.00 and set a "buy" rating for the company in a report on Monday, March 3rd. UBS Group dropped their price target on Maravai LifeSciences from $8.00 to $2.50 and set a "neutral" rating on the stock in a report on Friday, March 21st. Robert W. Baird cut Maravai LifeSciences from an "outperform" rating to a "neutral" rating and cut their price objective for the stock from $9.00 to $3.00 in a research report on Wednesday, February 26th. Finally, Morgan Stanley decreased their target price on Maravai LifeSciences from $7.00 to $5.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Maravai LifeSciences has a consensus rating of "Hold" and a consensus price target of $6.34.
Read Our Latest Stock Analysis on MRVI
Maravai LifeSciences Stock Performance
Shares of MRVI traded up $0.05 during mid-day trading on Friday, hitting $1.83. The stock had a trading volume of 1,510,681 shares, compared to its average volume of 2,349,538. Maravai LifeSciences Holdings, Inc. has a 52 week low of $1.72 and a 52 week high of $11.56. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. The business has a fifty day moving average price of $2.96 and a 200-day moving average price of $5.05. The firm has a market cap of $465.43 million, a P/E ratio of -1.12 and a beta of 0.18.
Insider Buying and Selling
In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the company's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $5.03, for a total transaction of $125,750.00. Following the sale, the general counsel now directly owns 167,618 shares of the company's stock, valued at $843,118.54. This represents a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.63% of the stock is currently owned by insiders.
About Maravai LifeSciences
(
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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