KLP Kapitalforvaltning AS Makes New $112,000 Investment in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

KLP Kapitalforvaltning AS acquired a new stake in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,600 shares of the company’s stock, valued at approximately $112,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in Maravai LifeSciences by 1,172.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company’s stock valued at $33,658,000 after buying an additional 3,731,924 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Maravai LifeSciences by 0.3% in the fourth 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 last quarter. Geode Capital Management LLC lifted its position in shares of Maravai LifeSciences by 6.3% during the third quarter. Geode Capital Management LLC now owns 2,752,077 shares of the company’s stock valued at $22,874,000 after purchasing an additional 162,601 shares in the last quarter. Royce & Associates LP boosted its holdings in Maravai LifeSciences by 5.5% during the fourth quarter. Royce & Associates LP now owns 958,885 shares of the company’s stock worth $5,226,000 after purchasing an additional 50,107 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Maravai LifeSciences by 14.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 447,994 shares of the company’s stock worth $2,442,000 after purchasing an additional 57,727 shares in the last quarter. Institutional investors own 50.25% of the company’s stock.

Insider Buying and Selling at Maravai LifeSciences

In related news, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences stock in a transaction dated 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 directly 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 legal filing with the SEC, which is available at this hyperlink. Insiders own 0.63% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Morgan Stanley cut their target price on Maravai LifeSciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 25th. Robert W. Baird lowered Maravai LifeSciences from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $9.00 to $3.00 in a research report on Wednesday, February 26th. Bank of America cut their price target on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Baird R W lowered shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, Guggenheim began coverage on shares of Maravai LifeSciences in a report on Thursday, December 19th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.34.

Maravai LifeSciences Trading Down 8.2 %

NASDAQ MRVI opened at $1.78 on Friday. The firm has a market capitalization of $452.72 million, a PE ratio of -1.09 and a beta of 0.18. The stock’s 50 day moving average is $3.01 and its 200 day moving average is $5.09. Maravai LifeSciences Holdings, Inc. has a twelve month low of $1.72 and a twelve month high of $11.56. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89.

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.