Massachusetts Financial Services Co. MA Acquires 1,062,485 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Massachusetts Financial Services Co. MA raised its stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 29.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,664,210 shares of the company’s stock after acquiring an additional 1,062,485 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Maravai LifeSciences were worth $25,420,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC lifted its position in Maravai LifeSciences by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 2,794,961 shares of the company’s stock valued at $15,236,000 after acquiring an additional 42,884 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Maravai LifeSciences by 4.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,250,656 shares of the company’s stock valued at $23,166,000 after purchasing an additional 200,411 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Maravai LifeSciences by 118.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 52,508 shares of the company’s stock worth $298,000 after buying an additional 28,480 shares during the period. Pier Capital LLC grew its holdings in shares of Maravai LifeSciences by 137.0% during the fourth quarter. Pier Capital LLC now owns 1,127,773 shares of the company’s stock worth $6,146,000 after buying an additional 651,921 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Maravai LifeSciences in the 4th quarter valued at approximately $112,000. Institutional investors and hedge funds own 50.25% of the company’s stock.

Analyst Upgrades and Downgrades

MRVI has been the subject of a number of recent research reports. Guggenheim began coverage on Maravai LifeSciences in a research report on Thursday, December 19th. They set a “neutral” rating for the company. Morgan Stanley reduced their target price on shares of Maravai LifeSciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Tuesday, March 25th. Stifel Nicolaus set a $5.00 price target on shares of Maravai LifeSciences in a research note on Friday, March 21st. Bank of America reduced their price objective on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Finally, Baird R W downgraded Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Maravai LifeSciences presently has an average rating of “Hold” and an average target price of $7.31.

Insider Transactions at Maravai LifeSciences

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the firm’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 completion of the sale, the general counsel now owns 167,618 shares of the company’s stock, valued at $843,118.54. This trade represents a 12.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.63% of the stock is currently owned by corporate insiders.

Maravai LifeSciences Trading Down 7.6 %

Maravai LifeSciences stock opened at $1.94 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. The stock has a 50-day simple moving average of $3.41 and a 200 day simple moving average of $5.33. The stock has a market capitalization of $493.41 million, a P/E ratio of -1.18 and a beta of 0.18. Maravai LifeSciences Holdings, Inc. has a 52 week low of $1.88 and a 52 week high of $11.56.

About Maravai LifeSciences

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.