Victory Capital Management Inc. Grows Stock Position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Victory Capital Management Inc. lifted its stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 65.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 96,273 shares of the company’s stock after purchasing an additional 37,946 shares during the period. Victory Capital Management Inc.’s holdings in Maravai LifeSciences were worth $525,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FNY Investment Advisers LLC boosted its holdings in Maravai LifeSciences by 600.0% in the fourth quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock valued at $38,000 after purchasing an additional 6,000 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Maravai LifeSciences during the 3rd quarter worth about $105,000. Neo Ivy Capital Management purchased a new stake in Maravai LifeSciences during the 3rd quarter worth about $136,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in Maravai LifeSciences during the 4th quarter worth about $136,000. Finally, Empowered Funds LLC purchased a new stake in Maravai LifeSciences during the 4th quarter worth about $155,000. 50.25% of the stock is currently owned by hedge funds and other institutional investors.

Maravai LifeSciences Stock Down 5.4 %

MRVI opened at $2.27 on Friday. The stock has a market capitalization of $573.24 million, a P/E ratio of -1.38 and a beta of -0.08. Maravai LifeSciences Holdings, Inc. has a one year low of $2.07 and a one year high of $11.56. The business’s 50-day simple moving average is $3.96 and its 200-day simple moving average is $5.83. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74.

Insider Activity at Maravai LifeSciences

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the business’s 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 approximately $843,118.54. The trade was a 12.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.63% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. The Goldman Sachs Group downgraded Maravai LifeSciences from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $7.00 to $4.25 in a report on Thursday, December 5th. Bank of America decreased their price target on Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Baird R W downgraded Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. Robert W. Baird cut Maravai LifeSciences from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $9.00 to $3.00 in a research report on Wednesday, February 26th. Finally, Guggenheim began coverage on Maravai LifeSciences in a research report on Thursday, December 19th. They set 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 issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $8.22.

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.