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

KLP Kapitalforvaltning AS purchased a new position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 20,600 shares of the company’s stock, valued at approximately $112,000.

Several other large investors have also recently modified their holdings of MRVI. The Manufacturers Life Insurance Company raised its stake in shares of Maravai LifeSciences by 36.0% in the third quarter. The Manufacturers Life Insurance Company now owns 58,987 shares of the company’s stock worth $490,000 after purchasing an additional 15,615 shares during the last quarter. XTX Topco Ltd bought a new stake in Maravai LifeSciences in the 3rd quarter worth about $193,000. Orion Portfolio Solutions LLC raised its position in Maravai LifeSciences by 4.8% in 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. Y Intercept Hong Kong Ltd bought a new position in Maravai LifeSciences during the 3rd quarter valued at about $105,000. Finally, Barclays PLC boosted its holdings in shares of Maravai LifeSciences by 349.2% during the 3rd quarter. Barclays PLC now owns 184,189 shares of the company’s stock valued at $1,531,000 after acquiring an additional 143,184 shares during the last quarter. Hedge funds and other institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Stock Performance

Shares of NASDAQ MRVI opened at $1.78 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. Maravai LifeSciences Holdings, Inc. has a 1 year low of $1.72 and a 1 year high of $11.56. The firm has a fifty day moving average price of $3.01 and a 200-day moving average price of $5.09. The stock has a market cap of $452.72 million, a PE ratio of -1.09 and a beta of 0.18.

Insiders Place Their Bets

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $5.03, for a total value of $125,750.00. Following the completion of the transaction, the general counsel now owns 167,618 shares of the company’s stock, valued at $843,118.54. This represents a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.63% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Robert W. Baird cut shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $9.00 to $3.00 in a report on Wednesday, February 26th. Bank of America reduced their price objective on Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Baird R W downgraded Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Guggenheim assumed coverage on shares of Maravai LifeSciences in a report on Thursday, December 19th. They issued a “neutral” rating on the stock. Finally, UBS Group dropped their price target on shares of Maravai LifeSciences from $8.00 to $2.50 and set a “neutral” rating on the stock in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $6.34.

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.