Bleakley Financial Group LLC Grows Position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Bleakley Financial Group LLC boosted its stake in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 30.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,691 shares of the company’s stock after buying an additional 9,657 shares during the quarter. Bleakley Financial Group LLC’s holdings in Maravai LifeSciences were worth $227,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of 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 valued at $33,658,000 after purchasing an additional 3,731,924 shares in the last quarter. Royce & Associates LP increased its holdings in shares of Maravai LifeSciences by 130.4% during the 3rd quarter. Royce & Associates LP now owns 908,778 shares of the company’s stock worth $7,552,000 after buying an additional 514,332 shares during the last quarter. Barclays PLC increased its stake in 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 raised its holdings in Maravai LifeSciences by 14.7% in the third quarter. Systematic Financial Management LP now owns 1,612,161 shares of the company’s stock valued at $13,397,000 after buying an additional 206,499 shares during the period. Finally, Geode Capital Management LLC raised its position in Maravai LifeSciences by 6.3% in the third quarter. Geode Capital Management LLC now owns 2,752,077 shares of the company’s stock valued at $22,874,000 after purchasing an additional 162,601 shares during the period. 50.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Maravai LifeSciences

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the stock in a transaction that occurred 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 owns 167,618 shares in the company, valued at $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 SEC, which is available at the SEC website. 0.63% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MRVI shares. Royal Bank of Canada dropped their price target on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Guggenheim assumed coverage on Maravai LifeSciences in a research report on Thursday, December 19th. They issued a “neutral” rating for the company. Wolfe Research began coverage on shares of Maravai LifeSciences in a report on Thursday, November 14th. They issued a “peer perform” rating for the company. The Goldman Sachs Group lowered Maravai LifeSciences from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $7.00 to $4.25 in a research report on Thursday, December 5th. Finally, William Blair reissued a “market perform” rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $10.28.

Maravai LifeSciences Stock Performance

Shares of NASDAQ MRVI opened at $4.26 on Thursday. The company has a market capitalization of $1.08 billion, a P/E ratio of -2.60 and a beta of -0.08. 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 Holdings, Inc. has a one year low of $4.05 and a one year high of $11.56. The business’s 50-day moving average price is $5.26 and its two-hundred day moving average price is $6.91.

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.