Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Stake Reduced by Quantbot Technologies LP

Quantbot Technologies LP trimmed its stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 54.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 7,432 shares of the company’s stock after selling 8,945 shares during the quarter. Quantbot Technologies LP’s holdings in Maravai LifeSciences were worth $62,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MRVI. Point72 Asset Management L.P. lifted its position in Maravai LifeSciences by 149.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,519,561 shares of the company’s stock valued at $25,200,000 after purchasing an additional 2,109,199 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of Maravai LifeSciences by 16.8% during the second 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 period. Dragoneer Investment Group LLC bought a new position in Maravai LifeSciences in the 2nd quarter worth approximately $5,373,000. Renaissance Technologies LLC increased its position in Maravai LifeSciences by 20.8% in the 2nd quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock valued at $27,791,000 after acquiring an additional 668,552 shares during the period. Finally, Millennium Management LLC raised its stake in Maravai LifeSciences by 12.3% during the 2nd quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock valued at $42,735,000 after acquiring an additional 653,639 shares in the last quarter. Institutional investors and hedge funds own 50.25% of the company’s stock.

Analyst Upgrades and Downgrades

MRVI has been the subject of several recent analyst reports. Wells Fargo & Company started coverage on Maravai LifeSciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price target for the company. The Goldman Sachs Group cut 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. Wolfe Research started coverage on shares of Maravai LifeSciences in a research report on Thursday, November 14th. They set a “peer perform” rating on the stock. Royal Bank of Canada decreased their price objective on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, William Blair reissued a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Maravai LifeSciences presently has a consensus rating of “Hold” and a consensus price target of $10.03.

Maravai LifeSciences Trading Down 0.8 %

Shares of NASDAQ:MRVI opened at $5.05 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of -3.08 and a beta of -0.08. Maravai LifeSciences Holdings, Inc. has a 1-year low of $4.28 and a 1-year high of $11.56. The company has a 50 day moving average price of $6.74 and a 200 day moving average price of $7.94.

Insider Activity

In related news, insider Carl Hull acquired 175,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were purchased at an average price of $5.64 per share, for a total transaction of $987,000.00. Following the acquisition, the insider now owns 175,000 shares in the company, valued at approximately $987,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.63% of the company’s stock.

Maravai LifeSciences 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.