Choreo LLC Sells 26,716 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Choreo LLC trimmed its position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 36.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,991 shares of the company’s stock after selling 26,716 shares during the period. Choreo LLC’s holdings in Maravai LifeSciences were worth $253,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MRVI. FNY Investment Advisers LLC grew its stake in shares of Maravai LifeSciences by 600.0% during the fourth quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock valued at $38,000 after buying an additional 6,000 shares during the last quarter. Venturi Wealth Management LLC bought a new position in Maravai LifeSciences in the 3rd quarter valued at $47,000. Custom Index Systems LLC purchased a new stake in Maravai LifeSciences in the third quarter worth $97,000. Y Intercept Hong Kong Ltd purchased a new stake in Maravai LifeSciences in the third quarter worth $105,000. Finally, Neo Ivy Capital Management bought a new stake in shares of Maravai LifeSciences during the third quarter worth $136,000. 50.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Maravai LifeSciences

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $5.03, for a total transaction of $125,750.00. Following the completion of the sale, the general counsel now owns 167,618 shares of the company’s stock, valued at $843,118.54. This represents a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.63% of the stock is owned by corporate insiders.

Maravai LifeSciences Stock Up 1.9 %

Shares of NASDAQ MRVI opened at $4.20 on Friday. Maravai LifeSciences Holdings, Inc. has a 12-month low of $4.05 and a 12-month high of $11.56. The stock’s fifty day simple moving average is $5.22 and its two-hundred day simple moving average is $6.86. The stock has a market capitalization of $1.06 billion, a PE ratio of -2.56 and a beta of -0.08. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89.

Wall Street Analyst Weigh In

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

About Maravai LifeSciences

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.