Wedmont Private Capital Has $361,000 Position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Wedmont Private Capital increased its position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 14.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,439 shares of the company’s stock after buying an additional 5,242 shares during the quarter. Wedmont Private Capital’s holdings in Maravai LifeSciences were worth $361,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jump Financial LLC bought a new position in Maravai LifeSciences during the fourth quarter valued at about $225,000. Performa Ltd US LLC increased its stake in Maravai LifeSciences by 112.4% during the fourth quarter. Performa Ltd US LLC now owns 6,000 shares of the company’s stock valued at $39,000 after acquiring an additional 3,175 shares during the period. Sivik Global Healthcare LLC bought a new position in Maravai LifeSciences during the fourth quarter valued at about $1,344,000. Point72 Europe London LLP bought a new position in Maravai LifeSciences during the fourth quarter valued at about $17,059,000. Finally, Glenmede Trust Co. NA increased its stake in Maravai LifeSciences by 163.8% during the third quarter. Glenmede Trust Co. NA now owns 1,108,554 shares of the company’s stock valued at $11,086,000 after acquiring an additional 688,403 shares during the period. 50.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Maravai LifeSciences news, Director Gtcr Investment Xi Llc sold 9,940,974 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $9.81, for a total transaction of $97,520,954.94. Following the completion of the transaction, the director now owns 20,150,005 shares in the company, valued at approximately $197,671,549.05. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.63% of the company’s stock.

Maravai LifeSciences Price Performance

MRVI opened at $7.24 on Friday. The company has a quick ratio of 10.47, a current ratio of 11.32 and a debt-to-equity ratio of 0.71. Maravai LifeSciences Holdings, Inc. has a 12 month low of $4.52 and a 12 month high of $13.60. The company has a fifty day simple moving average of $8.85 and a 200 day simple moving average of $7.51. The stock has a market cap of $1.82 billion, a P/E ratio of -7.31 and a beta of 0.06.

Maravai LifeSciences (NASDAQ:MRVI) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.05). Maravai LifeSciences had a negative net margin of 47.81% and a negative return on equity of 4.28%. The firm had revenue of $64.18 million during the quarter, compared to the consensus estimate of $60.84 million. On average, research analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.15 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Craig Hallum assumed coverage on Maravai LifeSciences in a report on Wednesday, April 10th. They issued a “buy” rating and a $15.00 target price on the stock. Royal Bank of Canada upped their price objective on Maravai LifeSciences from $12.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Stifel Nicolaus reduced their price objective on Maravai LifeSciences from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. Finally, Robert W. Baird upped their price objective on Maravai LifeSciences from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.44.

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.