Frank Rimerman Advisors LLC Sells 44,462 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Frank Rimerman Advisors LLC reduced its position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 80.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Monaco Asset Management SAM lifted its holdings in Maravai LifeSciences by 288.5% in the fourth quarter. Monaco Asset Management SAM now owns 291,364 shares of the company’s stock worth $1,588,000 after buying an additional 216,364 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Maravai LifeSciences by 14.8% during 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 acquiring an additional 57,727 shares in the last quarter. Farther Finance Advisors LLC increased its position 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 acquiring an additional 9,916 shares in the last quarter. Wealthfront Advisers LLC bought a new stake in shares of Maravai LifeSciences during the fourth quarter valued at approximately $1,046,000. Finally, Atria Investments Inc purchased a new stake in Maravai LifeSciences during the 4th quarter valued at $58,000. 50.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $5.03, for a total value of $125,750.00. Following the transaction, the general counsel now directly owns 167,618 shares in the company, valued at $843,118.54. The trade was a 12.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.63% of the stock is currently owned by company insiders.

Maravai LifeSciences Stock Up 7.8 %

Shares of NASDAQ MRVI opened at $2.64 on Tuesday. The company’s 50-day simple moving average is $4.23 and its 200-day simple moving average is $5.97. Maravai LifeSciences Holdings, Inc. has a 52-week low of $2.37 and a 52-week high of $11.56. The firm has a market cap of $666.67 million, a price-to-earnings ratio of -1.61 and a beta of -0.08. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89.

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.