Connor Clark & Lunn Investment Management Ltd. Acquires 57,727 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 14.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 447,994 shares of the company’s stock after purchasing an additional 57,727 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.18% of Maravai LifeSciences worth $2,442,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FNY Investment Advisers LLC boosted its stake in shares of Maravai LifeSciences by 600.0% during the fourth quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock valued at $38,000 after purchasing an additional 6,000 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Maravai LifeSciences by 3,541.4% during the fourth quarter. Farther Finance Advisors LLC now owns 10,196 shares of the company’s stock valued at $56,000 after purchasing an additional 9,916 shares in the last quarter. Atria Investments Inc acquired a new stake in Maravai LifeSciences in the fourth quarter valued at approximately $58,000. Y Intercept Hong Kong Ltd acquired a new stake in Maravai LifeSciences in the third quarter valued at approximately $105,000. Finally, Neo Ivy Capital Management acquired a new stake in Maravai LifeSciences in the third quarter valued at approximately $136,000. 50.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Robert W. Baird downgraded shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $9.00 to $3.00 in a research note on Wednesday, February 26th. The Goldman Sachs Group downgraded shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and lowered their target price for the company from $7.00 to $4.25 in a research note on Thursday, December 5th. Baird R W downgraded shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Bank of America decreased 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. Finally, Guggenheim began coverage on shares of Maravai LifeSciences in a report on Thursday, December 19th. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $9.28.

Maravai LifeSciences Trading Down 2.3 %

Shares of Maravai LifeSciences stock opened at $2.58 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. The firm has a fifty day moving average price of $4.16 and a 200 day moving average price of $5.93. Maravai LifeSciences Holdings, Inc. has a 1 year low of $2.37 and a 1 year high of $11.56. The stock has a market cap of $651.52 million, a PE ratio of -1.57 and a beta of -0.08.

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

Insider Activity at Maravai LifeSciences

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $5.03, for a total transaction of $125,750.00. Following the sale, the general counsel now owns 167,618 shares in the company, valued at approximately $843,118.54. This trade represents a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.63% of the stock is owned by company insiders.

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.