Principal Financial Group Inc. Has $2.93 Million Stock Position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Principal Financial Group Inc. cut its stake in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 47.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 352,600 shares of the company’s stock after selling 313,587 shares during the period. Principal Financial Group Inc. owned approximately 0.14% of Maravai LifeSciences worth $2,930,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Creative Planning lifted its holdings in Maravai LifeSciences by 4.4% during the third quarter. Creative Planning now owns 44,943 shares of the company’s stock worth $373,000 after acquiring an additional 1,881 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Maravai LifeSciences by 310.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock valued at $26,000 after purchasing an additional 2,711 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Maravai LifeSciences by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 73,595 shares of the company’s stock valued at $639,000 after purchasing an additional 3,575 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Maravai LifeSciences during the 2nd quarter worth approximately $32,000. Finally, Liontrust Investment Partners LLP raised its holdings in Maravai LifeSciences by 14.7% during the 2nd quarter. Liontrust Investment Partners LLP now owns 43,845 shares of the company’s stock worth $314,000 after buying an additional 5,628 shares during the period. Institutional investors own 50.25% of the company’s stock.

Insiders Place Their Bets

In other Maravai LifeSciences news, insider Carl Hull purchased 175,000 shares of the stock in a transaction on Monday, November 11th. The shares were purchased at an average price of $5.64 per share, with a total value of $987,000.00. Following the completion of the transaction, the insider now directly owns 175,000 shares in the company, valued at $987,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.63% of the company’s stock.

Maravai LifeSciences Trading Up 5.2 %

Shares of Maravai LifeSciences stock opened at $5.22 on Friday. Maravai LifeSciences Holdings, Inc. has a 12-month low of $4.28 and a 12-month high of $11.56. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89. The business’s 50 day moving average is $7.37 and its 200-day moving average is $8.28. The stock has a market cap of $1.32 billion, a P/E ratio of -3.18 and a beta of 0.02.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MRVI shares. Wells Fargo & Company initiated coverage on shares of Maravai LifeSciences in a report on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price target for the company. UBS Group increased their target price on Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Morgan Stanley lowered Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $11.00 to $10.00 in a report on Tuesday, August 13th. The Goldman Sachs Group decreased their price objective on Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, October 8th. Finally, Wolfe Research began coverage on Maravai LifeSciences in a research note on Thursday, November 14th. They issued a “peer perform” rating on the stock. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $10.33.

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.