Massachusetts Financial Services Co. MA Has $25.42 Million Stock Position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Massachusetts Financial Services Co. MA lifted its stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 29.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,664,210 shares of the company’s stock after buying an additional 1,062,485 shares during the period. Massachusetts Financial Services Co. MA owned about 1.85% of Maravai LifeSciences worth $25,420,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Performa Ltd US LLC boosted its holdings in shares of Maravai LifeSciences by 614.3% in the 4th quarter. Performa Ltd US LLC now owns 5,000 shares of the company’s stock worth $27,000 after acquiring an additional 4,300 shares in the last quarter. FNY Investment Advisers LLC raised its position in Maravai LifeSciences by 600.0% in the 4th quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock valued at $38,000 after purchasing an additional 6,000 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Maravai LifeSciences by 3,541.4% in the fourth quarter. Farther Finance Advisors LLC now owns 10,196 shares of the company’s stock worth $56,000 after purchasing an additional 9,916 shares in the last quarter. Cibc World Markets Corp bought a new stake in shares of Maravai LifeSciences during the fourth quarter worth $56,000. Finally, Atria Investments Inc acquired a new stake in shares of Maravai LifeSciences in the fourth quarter valued at $58,000. 50.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Morgan Stanley reduced their price target on shares of Maravai LifeSciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 25th. Bank of America decreased their price target 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. Robert W. Baird cut shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $9.00 to $3.00 in a research report on Wednesday, February 26th. Guggenheim initiated coverage on Maravai LifeSciences in a report on Thursday, December 19th. They set a “neutral” rating on the stock. Finally, UBS Group lowered their target price on Maravai LifeSciences from $8.00 to $2.50 and set a “neutral” rating for the company in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Maravai LifeSciences presently has a consensus rating of “Hold” and a consensus target price of $7.31.

Insiders Place Their Bets

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $5.03, for a total transaction of $125,750.00. Following the completion of the transaction, the general counsel now owns 167,618 shares in the company, valued at approximately $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 can be accessed through this link. Company insiders own 0.63% of the company’s stock.

Maravai LifeSciences Stock Down 7.6 %

Shares of Maravai LifeSciences stock opened at $1.94 on Monday. The business has a fifty day simple moving average of $3.41 and a 200 day simple moving average of $5.33. The stock has a market cap of $493.41 million, a PE ratio of -1.18 and a beta of 0.18. 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 12 month low of $1.88 and a 12 month high of $11.56.

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.