Royce & Associates LP Increases Stock Holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Royce & Associates LP boosted its position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 130.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 908,778 shares of the company's stock after purchasing an additional 514,332 shares during the quarter. Royce & Associates LP owned approximately 0.36% of Maravai LifeSciences worth $7,552,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Victory Capital Management Inc. raised its stake in Maravai LifeSciences by 312.3% in the third quarter. Victory Capital Management Inc. now owns 58,327 shares of the company's stock valued at $485,000 after buying an additional 44,180 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Maravai LifeSciences during the 3rd quarter worth approximately $47,000. Kornitzer Capital Management Inc. KS increased its holdings in Maravai LifeSciences by 0.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 519,890 shares of the company's stock valued at $4,320,000 after buying an additional 3,725 shares in the last quarter. Cannon Global Investment Management LLC acquired a new position in shares of Maravai LifeSciences during the 3rd quarter worth approximately $590,000. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of Maravai LifeSciences by 74.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 27,225 shares of the company's stock worth $226,000 after purchasing an additional 11,621 shares during the last quarter. 50.25% of the stock is owned by hedge funds and other institutional investors.

Maravai LifeSciences Price Performance

Shares of NASDAQ:MRVI traded up $0.13 during trading on Monday, hitting $4.55. 3,320,929 shares of the stock were exchanged, compared to its average volume of 2,277,825. The company has a market cap of $1.15 billion, a PE ratio of -2.70 and a beta of 0.02. Maravai LifeSciences Holdings, Inc. has a 12-month low of $4.28 and a 12-month high of $11.56. The company has a fifty day moving average price of $7.76 and a two-hundred day moving average price of $8.42. The company has a current ratio of 10.74, a quick ratio of 9.28 and a debt-to-equity ratio of 0.89.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MRVI shares. Royal Bank of Canada dropped their price target on Maravai LifeSciences from $17.00 to $13.00 and set an "outperform" rating for the company in a research report on Friday, November 8th. William Blair reiterated a "market perform" rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. The Goldman Sachs Group dropped their price target on Maravai LifeSciences from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 8th. Wolfe Research assumed coverage on Maravai LifeSciences in a report on Thursday. They issued a "peer perform" rating on the stock. Finally, Wells Fargo & Company initiated coverage on Maravai LifeSciences in a report on Tuesday, August 27th. They set an "overweight" rating and a $10.00 price target for the company. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Maravai LifeSciences presently has an average rating of "Moderate Buy" and an average target price of $10.33.

Insider Buying and Selling at Maravai LifeSciences

In other news, insider Carl Hull bought 175,000 shares of Maravai LifeSciences stock in a transaction on Monday, November 11th. The shares were bought at an average cost of $5.64 per share, for a total transaction of $987,000.00. Following the acquisition, the insider now owns 175,000 shares in the company, valued at approximately $987,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.63% of the company's stock.

Maravai LifeSciences 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.