Pier Capital LLC Grows Holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Pier Capital LLC raised its position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 137.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,127,773 shares of the company’s stock after purchasing an additional 651,921 shares during the period. Pier Capital LLC’s holdings in Maravai LifeSciences were worth $6,146,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MRVI. Victory Capital Management Inc. lifted its stake in shares of Maravai LifeSciences by 312.3% in the third quarter. Victory Capital Management Inc. now owns 58,327 shares of the company’s stock worth $485,000 after acquiring an additional 44,180 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Maravai LifeSciences by 14.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 214,645 shares of the company’s stock valued at $1,784,000 after purchasing an additional 26,885 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Maravai LifeSciences during the 3rd quarter valued at approximately $200,000. Charles Schwab Investment Management Inc. grew its position in shares of Maravai LifeSciences by 6.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 946,576 shares of the company’s stock worth $7,866,000 after buying an additional 56,071 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Maravai LifeSciences by 36.0% in the third quarter. The Manufacturers Life Insurance Company now owns 58,987 shares of the company’s stock worth $490,000 after buying an additional 15,615 shares during the last quarter. 50.25% of the stock is currently owned by institutional investors and hedge funds.

Maravai LifeSciences Stock Performance

NASDAQ:MRVI opened at $2.24 on Tuesday. The company has a 50-day moving average of $3.91 and a 200-day moving average of $5.75. The firm has a market cap of $565.66 million, a price-to-earnings ratio of -1.37 and a beta of -0.08. 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 twelve month low of $2.07 and a twelve month high of $11.56.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. The Goldman Sachs Group downgraded shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $7.00 to $4.25 in a research note on Thursday, December 5th. Guggenheim assumed coverage on shares of Maravai LifeSciences in a research report on Thursday, December 19th. They set a “neutral” rating on the stock. UBS Group lowered their price objective on Maravai LifeSciences from $8.00 to $2.50 and set a “neutral” rating for the company in a report on Friday. Robert W. Baird downgraded Maravai LifeSciences from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $9.00 to $3.00 in a report on Wednesday, February 26th. Finally, Bank of America dropped their price objective on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.22.

Insider Activity at Maravai LifeSciences

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the business’s stock in a transaction 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 sale, the general counsel now directly owns 167,618 shares of the company’s stock, valued at $843,118.54. The trade was a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.63% of the company’s stock.

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.