Kornitzer Capital Management Inc. KS Decreases Stock Holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Kornitzer Capital Management Inc. KS decreased its holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 512,440 shares of the company’s stock after selling 7,450 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Maravai LifeSciences were worth $2,793,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Rhumbline Advisers grew its stake in shares of Maravai LifeSciences by 9.9% during the 4th quarter. Rhumbline Advisers now owns 185,221 shares of the company’s stock valued at $1,009,000 after purchasing an additional 16,712 shares during the period. Empowered Funds LLC bought a new stake in shares of Maravai LifeSciences during the 4th quarter valued at about $155,000. Bleakley Financial Group LLC grew its stake in shares of Maravai LifeSciences by 30.1% during the 4th quarter. Bleakley Financial Group LLC now owns 41,691 shares of the company’s stock valued at $227,000 after purchasing an additional 9,657 shares during the period. E. Ohman J or Asset Management AB grew its stake in shares of Maravai LifeSciences by 10.7% during the 4th quarter. E. Ohman J or Asset Management AB now owns 257,751 shares of the company’s stock valued at $1,405,000 after purchasing an additional 25,000 shares during the period. Finally, Jennison Associates LLC grew its stake in shares of Maravai LifeSciences by 0.3% during the 4th quarter. Jennison Associates LLC now owns 2,990,414 shares of the company’s stock valued at $16,298,000 after purchasing an additional 9,769 shares during the period. Hedge funds and other institutional investors own 50.25% of the company’s stock.

Insiders Place Their Bets

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $5.03, for a total value of $125,750.00. Following the completion of the transaction, the general counsel now directly owns 167,618 shares in the company, valued at $843,118.54. This represents a 12.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.63% of the stock is currently owned by corporate insiders.

Maravai LifeSciences Trading Down 2.4 %

MRVI stock opened at $4.10 on Wednesday. Maravai LifeSciences Holdings, Inc. has a 1-year low of $4.05 and a 1-year high of $11.56. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -2.50 and a beta of -0.08. The business has a 50 day simple moving average of $5.16 and a two-hundred day simple moving average of $6.75.

Wall Street Analysts Forecast Growth

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

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.