Venturi Wealth Management LLC Invests $47,000 in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Venturi Wealth Management LLC purchased a new stake in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,705 shares of the company’s stock, valued at approximately $47,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MRVI. Quent Capital LLC grew its position in shares of Maravai LifeSciences by 26,315.8% in the 1st quarter. Quent Capital LLC now owns 15,057 shares of the company’s stock worth $131,000 after buying an additional 15,000 shares during the period. Headlands Technologies LLC purchased a new stake in Maravai LifeSciences in the first quarter worth about $42,000. QRG Capital Management Inc. grew its holdings in Maravai LifeSciences by 11.7% in the first quarter. QRG Capital Management Inc. now owns 17,143 shares of the company’s stock worth $149,000 after purchasing an additional 1,796 shares during the period. Bleakley Financial Group LLC increased its stake in shares of Maravai LifeSciences by 24.6% during the first quarter. Bleakley Financial Group LLC now owns 29,613 shares of the company’s stock valued at $257,000 after purchasing an additional 5,853 shares in the last quarter. Finally, Orion Portfolio Solutions LLC lifted its holdings in shares of Maravai LifeSciences by 14.4% during the first quarter. Orion Portfolio Solutions LLC now owns 115,239 shares of the company’s stock valued at $999,000 after purchasing an additional 14,519 shares during the last quarter. 50.25% of the stock is owned by hedge funds and other institutional investors.

Maravai LifeSciences Trading Down 15.0 %

Shares of MRVI stock opened at $4.42 on Friday. The company has a current ratio of 10.74, a quick ratio of 9.28 and a debt-to-equity ratio of 0.89. Maravai LifeSciences Holdings, Inc. has a 12-month low of $4.39 and a 12-month high of $11.56. The stock has a market capitalization of $1.11 billion, a P/E ratio of -2.70 and a beta of 0.02. The firm’s 50 day moving average is $7.76 and its 200 day moving average is $8.41.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Royal Bank of Canada reduced their price objective on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Wolfe Research began coverage on shares of Maravai LifeSciences in a research note on Thursday. They issued a “peer perform” rating on the stock. William Blair reissued a “market perform” rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. The Goldman Sachs Group decreased their target price on shares of Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, October 8th. Finally, Morgan Stanley cut shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $11.00 to $10.00 in a report on Tuesday, August 13th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $10.33.

Insider Activity

In other news, insider Carl Hull purchased 175,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was acquired at an average cost of $5.64 per share, for a total transaction of $987,000.00. Following the purchase, the insider now directly owns 175,000 shares in the company, valued at $987,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.63% of the company’s stock.

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.