Jane Street Group LLC Sells 201,787 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Jane Street Group LLC lessened its position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 73.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 71,090 shares of the company’s stock after selling 201,787 shares during the period. Jane Street Group LLC’s holdings in Maravai LifeSciences were worth $591,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in Maravai LifeSciences by 30.1% during the second quarter. Bank of New York Mellon Corp now owns 506,413 shares of the company’s stock valued at $3,626,000 after purchasing an additional 117,120 shares during the period. Dragoneer Investment Group LLC purchased a new stake in shares of Maravai LifeSciences in the second quarter worth $5,373,000. Principal Financial Group Inc. boosted its position in shares of Maravai LifeSciences by 62.4% during the second quarter. Principal Financial Group Inc. now owns 666,187 shares of the company’s stock worth $4,770,000 after acquiring an additional 255,990 shares during the last quarter. Royce & Associates LP boosted its position in shares of Maravai LifeSciences by 130.4% during the third quarter. Royce & Associates LP now owns 908,778 shares of the company’s stock worth $7,552,000 after acquiring an additional 514,332 shares during the last quarter. Finally, 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 acquiring an additional 844,325 shares during the last quarter. Institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Stock Up 3.5 %

MRVI stock opened at $5.68 on Friday. The firm has a 50 day moving average of $5.80 and a 200 day moving average of $7.45. The stock has a market capitalization of $1.43 billion, a PE ratio of -3.46 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 Holdings, Inc. has a 52 week low of $4.28 and a 52 week high of $11.56.

Insider Buying and Selling

In related news, insider Carl Hull bought 175,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was bought at an average cost of $5.64 per share, for a total transaction of $987,000.00. Following the purchase, the insider now directly owns 175,000 shares of the company’s stock, valued at approximately $987,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.63% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on MRVI shares. Robert W. Baird lowered their price objective on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. William Blair restated a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Wolfe Research assumed coverage on shares of Maravai LifeSciences in a research note on Thursday, November 14th. They issued a “peer perform” rating on the stock. Royal Bank of Canada reduced their price target on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Finally, The Goldman Sachs Group downgraded shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and cut their target price for the company from $7.00 to $4.25 in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Maravai LifeSciences currently has a consensus rating of “Hold” and an average target price of $10.28.

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.