191,900 Shares in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC acquired a new position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 191,900 shares of the company’s stock, valued at approximately $1,046,000. Wealthfront Advisers LLC owned about 0.08% of Maravai LifeSciences as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in Maravai LifeSciences by 1,172.4% during the third quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company’s stock valued at $33,658,000 after purchasing an additional 3,731,924 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Maravai LifeSciences during the third quarter valued at approximately $22,108,000. Royce & Associates LP grew its holdings in Maravai LifeSciences by 130.4% during the third quarter. Royce & Associates LP now owns 908,778 shares of the company’s stock valued at $7,552,000 after purchasing an additional 514,332 shares during the last quarter. Quantinno Capital Management LP grew its holdings in Maravai LifeSciences by 610.2% during the third quarter. Quantinno Capital Management LP now owns 336,527 shares of the company’s stock valued at $2,797,000 after purchasing an additional 289,141 shares during the last quarter. Finally, Systematic Financial Management LP grew its holdings in Maravai LifeSciences by 14.7% during the third quarter. Systematic Financial Management LP now owns 1,612,161 shares of the company’s stock valued at $13,397,000 after purchasing an additional 206,499 shares during the last quarter. Institutional investors and hedge funds own 50.25% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on MRVI. Bank of America lowered their price target on Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Robert W. Baird downgraded Maravai LifeSciences from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $9.00 to $3.00 in a report on Wednesday, February 26th. Baird R W downgraded shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. The Goldman Sachs Group downgraded shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $7.00 to $4.25 in a research note on Thursday, December 5th. Finally, Guggenheim assumed coverage on shares of Maravai LifeSciences in a research note on Thursday, December 19th. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Maravai LifeSciences presently has an average rating of “Hold” and an average target price of $9.28.

Insider Buying and Selling

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences 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 completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.63% of the stock is owned by company insiders.

Maravai LifeSciences Stock Up 1.2 %

Shares of MRVI stock opened at $2.45 on Friday. The stock has a market cap of $618.69 million, a P/E ratio of -1.49 and a beta of -0.08. Maravai LifeSciences Holdings, Inc. has a one year low of $2.37 and a one year high of $11.56. The stock has a fifty day moving average price of $4.30 and a 200 day moving average price of $6.04. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94.

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.