Royce & Associates LP Has $7.55 Million Position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Royce & Associates LP raised its position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 130.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 908,778 shares of the company’s stock after purchasing an additional 514,332 shares during the quarter. Royce & Associates LP’s holdings in Maravai LifeSciences were worth $7,552,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Victory Capital Management Inc. increased 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 during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Maravai LifeSciences during the third quarter valued at about $47,000. Kornitzer Capital Management Inc. KS raised its position in shares of Maravai LifeSciences by 0.7% during the third quarter. Kornitzer Capital Management Inc. KS now owns 519,890 shares of the company’s stock valued at $4,320,000 after buying an additional 3,725 shares during the last quarter. Cannon Global Investment Management LLC acquired a new position in Maravai LifeSciences in the third quarter worth about $590,000. Finally, China Universal Asset Management Co. Ltd. raised its position in Maravai LifeSciences by 74.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 27,225 shares of the company’s stock worth $226,000 after purchasing an additional 11,621 shares in the last quarter. 50.25% of the stock is owned by institutional investors and hedge funds.

Maravai LifeSciences Price Performance

Shares of MRVI opened at $4.42 on Monday. Maravai LifeSciences Holdings, Inc. has a 12-month low of $4.39 and a 12-month high of $11.56. The business has a 50-day simple moving average of $7.76 and a two-hundred day simple moving average of $8.42. The company has a quick ratio of 9.28, a current ratio of 10.74 and a debt-to-equity ratio of 0.89. The stock has a market cap of $1.11 billion, a PE ratio of -2.70 and a beta of 0.02.

Analyst Ratings Changes

Several analysts have recently weighed in on MRVI shares. Robert W. Baird dropped their price objective on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Wells Fargo & Company started coverage on shares of Maravai LifeSciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price objective on the stock. 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. Morgan Stanley cut shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $11.00 to $10.00 in a research report on Tuesday, August 13th. Finally, The Goldman Sachs Group dropped their price objective on shares of Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Maravai LifeSciences presently has a consensus rating of “Moderate Buy” and an average target price of $10.33.

Insider Activity

In other news, insider Carl Hull purchased 175,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were acquired at an average price of $5.64 per share, for a total transaction of $987,000.00. Following the completion of the acquisition, the insider now owns 175,000 shares in the company, valued at approximately $987,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.63% of the company’s stock.

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.