Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Stock Position Reduced by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lessened its position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 20.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,601,725 shares of the company’s stock after selling 948,778 shares during the period. Massachusetts Financial Services Co. MA owned about 1.43% of Maravai LifeSciences worth $29,930,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of MRVI. Point72 Asset Management L.P. lifted its holdings in Maravai LifeSciences by 149.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,519,561 shares of the company’s stock worth $25,200,000 after buying an additional 2,109,199 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in Maravai LifeSciences by 16.8% during the 2nd quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock worth $41,962,000 after buying an additional 844,325 shares during the last quarter. Dragoneer Investment Group LLC bought a new position in Maravai LifeSciences during the 2nd quarter worth approximately $5,373,000. Renaissance Technologies LLC lifted its holdings in Maravai LifeSciences by 20.8% during the 2nd quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock worth $27,791,000 after buying an additional 668,552 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in Maravai LifeSciences by 12.3% during the 2nd quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock worth $42,735,000 after buying an additional 653,639 shares during the last quarter. Institutional investors own 50.25% of the company’s stock.

Insider Activity at Maravai LifeSciences

In other news, insider Carl Hull purchased 175,000 shares of the stock in a transaction dated Monday, November 11th. The shares were bought at an average cost of $5.64 per share, for a total transaction of $987,000.00. Following the transaction, the insider now owns 175,000 shares in the company, valued at $987,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.63% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on MRVI shares. Morgan Stanley downgraded Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $11.00 to $10.00 in a report on Tuesday, August 13th. The Goldman Sachs Group cut their price target on Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, October 8th. Wolfe Research initiated coverage on Maravai LifeSciences in a report on Thursday, November 14th. They issued a “peer perform” rating on the stock. Royal Bank of Canada cut their price target on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Finally, Wells Fargo & Company initiated coverage on Maravai LifeSciences in a report on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.33.

Maravai LifeSciences Stock Up 1.3 %

MRVI opened at $5.29 on Tuesday. Maravai LifeSciences Holdings, Inc. has a 12 month low of $4.28 and a 12 month high of $11.56. 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 stock has a market cap of $1.34 billion, a P/E ratio of -3.23 and a beta of 0.02. The stock’s 50 day moving average price is $7.29 and its 200 day moving average price is $8.24.

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.