Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 14.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 447,994 shares of the company’s stock after purchasing an additional 57,727 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Maravai LifeSciences were worth $2,442,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. grew its position in shares of Maravai LifeSciences by 1,172.4% in the third quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company’s stock valued at $33,658,000 after purchasing an additional 3,731,924 shares during the period. Barclays PLC grew its position in shares of Maravai LifeSciences by 349.2% in the third quarter. Barclays PLC now owns 184,189 shares of the company’s stock valued at $1,531,000 after purchasing an additional 143,184 shares during the period. Systematic Financial Management LP grew its position in shares of Maravai LifeSciences by 14.7% in the third quarter. Systematic Financial Management LP now owns 1,612,161 shares of the company’s stock valued at $13,397,000 after purchasing an additional 206,499 shares during the period. Empowered Funds LLC acquired a new stake in shares of Maravai LifeSciences in the fourth quarter valued at about $155,000. Finally, Bleakley Financial Group LLC grew its position in shares of Maravai LifeSciences by 30.1% in the fourth 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. Institutional investors and hedge funds own 50.25% of the company’s stock.

Insider Activity

In other 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 value of $125,750.00. Following the sale, the general counsel now directly owns 167,618 shares of the company’s stock, valued at approximately $843,118.54. The trade was a 12.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.63% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on MRVI. Bank of America lowered 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 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. Robert W. Baird lowered shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $9.00 to $3.00 in a research report on Wednesday, February 26th. Guggenheim began coverage on shares of Maravai LifeSciences in a research report on Thursday, December 19th. They set a “neutral” rating on the stock. Finally, The Goldman Sachs Group lowered shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $7.00 to $4.25 in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $9.28.

Maravai LifeSciences Price Performance

Maravai LifeSciences stock opened at $2.58 on Wednesday. The company’s 50 day simple moving average is $4.16 and its 200-day simple moving average is $5.93. The company has a market capitalization of $651.52 million, a price-to-earnings ratio of -1.57 and a beta of -0.08. Maravai LifeSciences Holdings, Inc. has a 1 year low of $2.37 and a 1 year high of $11.56. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74.

Maravai LifeSciences (NASDAQ:MRVI) last released its quarterly earnings results on Tuesday, March 18th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). Maravai LifeSciences had a negative net margin of 81.13% and a negative return on equity of 6.61%. As a group, equities research analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.24 earnings per share for the current year.

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.