Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC decreased its stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 80.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,593 shares of the company’s stock after selling 44,462 shares during the period. Frank Rimerman Advisors LLC’s holdings in Maravai LifeSciences were worth $58,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. SG Americas Securities LLC raised its position in Maravai LifeSciences by 7.3% during the 4th quarter. SG Americas Securities LLC now owns 33,046 shares of the company’s stock worth $180,000 after buying an additional 2,239 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in Maravai LifeSciences by 10.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 30,076 shares of the company’s stock worth $164,000 after buying an additional 2,851 shares during the last quarter. FNY Investment Advisers LLC raised its position in Maravai LifeSciences by 600.0% during the 4th quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock worth $38,000 after buying an additional 6,000 shares during the last quarter. Orion Portfolio Solutions LLC raised its position in Maravai LifeSciences by 4.8% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 135,749 shares of the company’s stock worth $1,128,000 after buying an additional 6,177 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its position in Maravai LifeSciences by 30.1% during the 4th quarter. Bleakley Financial Group LLC now owns 41,691 shares of the company’s stock worth $227,000 after buying an additional 9,657 shares during the last quarter. Institutional investors and hedge funds own 50.25% of the company’s stock.

Maravai LifeSciences Stock Up 7.8 %

Shares of NASDAQ:MRVI opened at $2.64 on Tuesday. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89. The company has a fifty day simple moving average of $4.23 and a 200 day simple moving average of $5.97. The firm has a market cap of $666.67 million, a PE ratio of -1.61 and a beta of -0.08. Maravai LifeSciences Holdings, Inc. has a 12-month low of $2.37 and a 12-month high of $11.56.

Wall Street Analysts Forecast Growth

MRVI has been the subject of a number of research analyst reports. Guggenheim initiated coverage on shares of Maravai LifeSciences in a report on Thursday, December 19th. They issued a “neutral” rating for the company. The Goldman Sachs Group downgraded shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and cut their price target for the company from $7.00 to $4.25 in a report on Thursday, December 5th. Bank of America cut their price target on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Baird R W downgraded shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. Finally, Robert W. Baird downgraded shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and cut their price target for the company from $9.00 to $3.00 in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $9.28.

Insider Buying and Selling

In related news, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences stock in a transaction 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 completion of the sale, 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 filing with the Securities & Exchange Commission, which is accessible 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.