JPMorgan Chase & Co. Acquires 3,731,924 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

JPMorgan Chase & Co. grew its holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 1,172.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,050,245 shares of the company’s stock after buying an additional 3,731,924 shares during the period. JPMorgan Chase & Co.’s holdings in Maravai LifeSciences were worth $33,658,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MRVI. Bank of New York Mellon Corp boosted its position in Maravai LifeSciences by 30.1% during the second quarter. Bank of New York Mellon Corp now owns 506,413 shares of the company’s stock worth $3,626,000 after purchasing an additional 117,120 shares during the period. Dragoneer Investment Group LLC bought a new stake in shares of Maravai LifeSciences during the 2nd quarter worth about $5,373,000. Principal Financial Group Inc. boosted its holdings in shares of Maravai LifeSciences by 62.4% during the 2nd quarter. Principal Financial Group Inc. now owns 666,187 shares of the company’s stock worth $4,770,000 after buying an additional 255,990 shares during the period. Royce & Associates LP grew its stake in Maravai LifeSciences by 130.4% in the 3rd quarter. Royce & Associates LP now owns 908,778 shares of the company’s stock valued at $7,552,000 after buying an additional 514,332 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings in 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 acquiring an additional 844,325 shares during the period. 50.25% of the stock is currently owned by institutional investors.

Maravai LifeSciences Stock Up 4.8 %

MRVI stock opened at $5.95 on Tuesday. The company has a market cap of $1.50 billion, a PE ratio of -3.63 and a beta of -0.07. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89. Maravai LifeSciences Holdings, Inc. has a 52 week low of $4.28 and a 52 week high of $11.56. The business has a 50-day simple moving average of $5.78 and a 200 day simple moving average of $7.45.

Insider Activity

In other Maravai LifeSciences news, insider Carl Hull bought 175,000 shares of Maravai LifeSciences stock in a transaction on Monday, November 11th. The shares were purchased at an average price of $5.64 per share, with a total value of $987,000.00. Following the acquisition, the insider now owns 175,000 shares in the company, valued at $987,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.63% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MRVI shares. The Goldman Sachs Group cut Maravai LifeSciences from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $7.00 to $4.25 in a report on Thursday, December 5th. William Blair restated a “market perform” rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. Royal Bank of Canada lowered their price objective on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Guggenheim assumed coverage on shares of Maravai LifeSciences in a research report on Thursday, December 19th. They issued a “neutral” rating for the company. Finally, Robert W. Baird lowered their price target on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.28.

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.