Performa Ltd US LLC Has $27,000 Position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Performa Ltd US LLC grew its holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 614.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,000 shares of the company’s stock after purchasing an additional 4,300 shares during the quarter. Maravai LifeSciences comprises 0.0% of Performa Ltd US LLC’s portfolio, making the stock its 24th biggest holding. Performa Ltd US LLC’s holdings in Maravai LifeSciences were worth $27,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MRVI. Royce & Associates LP lifted its stake in shares of Maravai LifeSciences by 5.5% in the fourth quarter. Royce & Associates LP now owns 958,885 shares of the company’s stock valued at $5,226,000 after buying an additional 50,107 shares during the period. Monaco Asset Management SAM lifted its stake in shares of Maravai LifeSciences by 288.5% in the fourth quarter. Monaco Asset Management SAM now owns 291,364 shares of the company’s stock valued at $1,588,000 after buying an additional 216,364 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Maravai LifeSciences by 14.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 447,994 shares of the company’s stock valued at $2,442,000 after buying an additional 57,727 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Maravai LifeSciences by 3,541.4% in the fourth quarter. Farther Finance Advisors LLC now owns 10,196 shares of the company’s stock valued at $56,000 after buying an additional 9,916 shares during the period. Finally, Wealthfront Advisers LLC bought a new stake in shares of Maravai LifeSciences in the fourth quarter valued at about $1,046,000. 50.25% of the stock is owned by institutional investors and hedge funds.

Maravai LifeSciences Stock Performance

NASDAQ MRVI opened at $2.45 on Monday. The firm has a market cap of $618.69 million, a price-to-earnings ratio of -1.49 and a beta of -0.08. The company has a 50 day moving average of $4.30 and a 200-day moving average of $6.02. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89. Maravai LifeSciences Holdings, Inc. has a 1-year low of $2.37 and a 1-year high of $11.56.

Analyst Upgrades and Downgrades

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

Insider Transactions at Maravai LifeSciences

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the firm’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 completion of the sale, the general counsel now owns 167,618 shares of the company’s stock, valued at $843,118.54. This trade represents a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company 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.