Pier Capital LLC lessened its stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Free Report) by 5.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 478,355 shares of the company’s stock after selling 27,940 shares during the quarter. Pier Capital LLC owned about 0.19% of Maravai LifeSciences worth $3,425,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. QRG Capital Management Inc. increased its position in Maravai LifeSciences by 11.7% in the 1st quarter. QRG Capital Management Inc. now owns 17,143 shares of the company’s stock valued at $149,000 after acquiring an additional 1,796 shares in the last quarter. GAMMA Investing LLC increased its position in Maravai LifeSciences by 310.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock valued at $26,000 after acquiring an additional 2,711 shares in the last quarter. M&T Bank Corp increased its position in Maravai LifeSciences by 17.3% in the 4th quarter. M&T Bank Corp now owns 20,107 shares of the company’s stock valued at $131,000 after acquiring an additional 2,972 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Maravai LifeSciences by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 73,595 shares of the company’s stock valued at $639,000 after acquiring an additional 3,575 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Maravai LifeSciences in the 1st quarter valued at about $42,000. Institutional investors and hedge funds own 50.25% of the company’s stock.
Maravai LifeSciences Stock Performance
Shares of MRVI stock opened at $8.98 on Wednesday. The company’s fifty day simple moving average is $8.70 and its 200-day simple moving average is $8.51. The company has a quick ratio of 9.28, a current ratio of 10.00 and a debt-to-equity ratio of 0.71. The firm has a market cap of $2.26 billion, a PE ratio of -9.07 and a beta of 0.01. Maravai LifeSciences Holdings, Inc. has a 12 month low of $4.52 and a 12 month high of $11.56.
Wall Street Analyst Weigh In
MRVI has been the subject of several analyst reports. The Goldman Sachs Group lifted their price target on shares of Maravai LifeSciences from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Morgan Stanley cut shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $11.00 to $10.00 in a research report on Tuesday, August 13th. UBS Group lifted their price target on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Wells Fargo & Company initiated coverage on shares of Maravai LifeSciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $10.00 price target for the company. Finally, Royal Bank of Canada restated an “outperform” rating and set a $15.00 price objective on shares of Maravai LifeSciences in a report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.78.
Read Our Latest Stock Report on MRVI
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.
Featured Articles
- Five stocks we like better than Maravai LifeSciences
- What Are the U.K. Market Holidays? How to Invest and Trade
- Matador Resources Insiders Keep Buying Its Stock, Should You?
- The 3 Best Retail Stocks to Shop for in August
- Oracle Can Turn the Magnificent 7 Into 8: Here’s Why
- Low PE Growth Stocks: Unlocking Investment Opportunities
- Palantir Stock Is Up 14% on S&P 500 News: Is It Time to Buy?
Want to see what other hedge funds are holding MRVI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Free Report).
Receive News & Ratings for Maravai LifeSciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Maravai LifeSciences and related companies with MarketBeat.com's FREE daily email newsletter.