Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Position Raised by Victory Capital Management Inc.

Victory Capital Management Inc. raised its stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 312.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 58,327 shares of the company’s stock after buying an additional 44,180 shares during the quarter. Victory Capital Management Inc.’s holdings in Maravai LifeSciences were worth $485,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Creative Planning raised its stake in shares of Maravai LifeSciences by 4.4% during the third quarter. Creative Planning now owns 44,943 shares of the company’s stock valued at $373,000 after purchasing an additional 1,881 shares in the last quarter. GAMMA Investing LLC raised its position in Maravai LifeSciences by 310.2% in the second quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock worth $26,000 after acquiring an additional 2,711 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Maravai LifeSciences by 5.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 73,595 shares of the company’s stock worth $639,000 after acquiring an additional 3,575 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its position in Maravai LifeSciences by 0.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 519,890 shares of the company’s stock worth $4,320,000 after acquiring an additional 3,725 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Maravai LifeSciences in the second quarter worth about $32,000. 50.25% of the stock is currently owned by institutional investors.

Maravai LifeSciences Trading Down 4.2 %

Shares of MRVI opened at $5.67 on Friday. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89. Maravai LifeSciences Holdings, Inc. has a 1-year low of $4.28 and a 1-year high of $11.56. The business’s 50-day moving average price is $7.04 and its 200 day moving average price is $8.14. The stock has a market capitalization of $1.43 billion, a P/E ratio of -3.46 and a beta of 0.02.

Insider Buying and Selling at Maravai LifeSciences

In other Maravai LifeSciences news, insider Carl Hull bought 175,000 shares of the stock in a transaction on Monday, November 11th. The shares were bought at an average price of $5.64 per share, with a total value of $987,000.00. Following the purchase, the insider now directly owns 175,000 shares in the company, valued at $987,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wolfe Research assumed coverage on shares of Maravai LifeSciences in a research report on Thursday, November 14th. They issued a “peer perform” rating on the stock. Robert W. Baird dropped 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. The Goldman Sachs Group dropped their price target on shares of Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 8th. William Blair reissued a “market perform” rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. Finally, Morgan Stanley cut Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $11.00 to $10.00 in a research note on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.33.

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.