Thrivent Financial for Lutherans Has $1.78 Million Stock Holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Thrivent Financial for Lutherans raised its stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 14.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,645 shares of the company’s stock after buying an additional 26,885 shares during the period. Thrivent Financial for Lutherans owned 0.09% of Maravai LifeSciences worth $1,784,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Point72 Asset Management L.P. increased its holdings in Maravai LifeSciences by 149.6% in the second quarter. Point72 Asset Management L.P. now owns 3,519,561 shares of the company’s stock worth $25,200,000 after purchasing an additional 2,109,199 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Maravai LifeSciences by 16.8% in the 2nd quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock valued at $41,962,000 after acquiring an additional 844,325 shares in the last quarter. Dragoneer Investment Group LLC acquired a new position in shares of Maravai LifeSciences during the 2nd quarter valued at $5,373,000. Renaissance Technologies LLC boosted its stake in Maravai LifeSciences by 20.8% during the second quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock worth $27,791,000 after acquiring an additional 668,552 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Maravai LifeSciences by 12.3% in the second quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock worth $42,735,000 after purchasing an additional 653,639 shares during the period. Institutional investors own 50.25% of the company’s stock.

Insider Activity

In other Maravai LifeSciences news, insider Carl Hull purchased 175,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was purchased at an average price 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. The trade was a ∞ increase 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 owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MRVI. Morgan Stanley downgraded Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $11.00 to $10.00 in a research note on Tuesday, August 13th. Wolfe Research assumed coverage on Maravai LifeSciences in a research note on Thursday, November 14th. They issued a “peer perform” rating for the company. The Goldman Sachs Group lowered their target price on Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 8th. UBS Group lifted their price target on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Finally, William Blair restated a “market perform” rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Maravai LifeSciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.33.

Maravai LifeSciences Trading Down 4.2 %

Shares of Maravai LifeSciences stock opened at $5.67 on Friday. The stock has a market capitalization of $1.43 billion, a P/E ratio of -3.46 and a beta of 0.02. Maravai LifeSciences Holdings, Inc. has a 52-week low of $4.28 and a 52-week high of $11.56. 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’s 50-day simple moving average is $7.04 and its 200 day simple moving average is $8.14.

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.