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

Royce & Associates LP grew its holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 130.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 908,778 shares of the company’s stock after acquiring an additional 514,332 shares during the quarter. Royce & Associates LP owned about 0.36% of Maravai LifeSciences worth $7,552,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MRVI. Point72 Asset Management L.P. increased its holdings in shares of Maravai LifeSciences by 149.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,519,561 shares of the company’s stock valued at $25,200,000 after acquiring an additional 2,109,199 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of Maravai LifeSciences by 16.8% in the 2nd quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock valued at $41,962,000 after purchasing an additional 844,325 shares during the period. Dragoneer Investment Group LLC acquired a new stake in shares of Maravai LifeSciences in the 2nd quarter valued at about $5,373,000. Renaissance Technologies LLC boosted its position in shares of Maravai LifeSciences by 20.8% in the 2nd quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock valued at $27,791,000 after purchasing an additional 668,552 shares during the period. Finally, Millennium Management LLC boosted its position in shares of Maravai LifeSciences by 12.3% in the 2nd quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock valued at $42,735,000 after purchasing an additional 653,639 shares during the period. Hedge funds and other institutional investors own 50.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. UBS Group upped their target price on Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Robert W. Baird decreased their target price on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Wolfe Research started coverage on Maravai LifeSciences in a research report on Thursday. They issued a “peer perform” rating for the company. Morgan Stanley cut Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $11.00 to $10.00 in a research report on Tuesday, August 13th. Finally, Wells Fargo & Company started coverage on Maravai LifeSciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $10.00 price objective for the company. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Maravai LifeSciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.33.

Insiders Place Their Bets

In other Maravai LifeSciences news, insider Carl Hull acquired 175,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were acquired at an average price of $5.64 per share, for a total transaction of $987,000.00. Following the completion of the acquisition, the insider now directly owns 175,000 shares of the company’s stock, valued at $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. 0.63% of the stock is currently owned by company insiders.

Maravai LifeSciences Stock Performance

Maravai LifeSciences stock opened at $4.42 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.28 and a current ratio of 10.74. The stock has a fifty day moving average of $7.76 and a two-hundred day moving average of $8.42. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -2.70 and a beta of 0.02. Maravai LifeSciences Holdings, Inc. has a fifty-two week low of $4.39 and a fifty-two week high of $11.56.

About Maravai LifeSciences

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.