Jane Street Group LLC lowered its holdings in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 73.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 71,090 shares of the company's stock after selling 201,787 shares during the quarter. Jane Street Group LLC's holdings in Maravai LifeSciences were worth $591,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in shares of Maravai LifeSciences by 30.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 506,413 shares of the company's stock worth $3,626,000 after purchasing an additional 117,120 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Maravai LifeSciences by 32.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,450 shares of the company's stock valued at $182,000 after buying an additional 6,212 shares in the last quarter. Principal Financial Group Inc. grew its position in Maravai LifeSciences by 62.4% in the 2nd quarter. Principal Financial Group Inc. now owns 666,187 shares of the company's stock valued at $4,770,000 after acquiring an additional 255,990 shares in the last quarter. Rhumbline Advisers increased its stake in Maravai LifeSciences by 30.4% during the 2nd quarter. Rhumbline Advisers now owns 171,489 shares of the company's stock worth $1,228,000 after buying an additional 39,955 shares during the period. Finally, Choreo LLC purchased a new stake in shares of Maravai LifeSciences during the second quarter worth $467,000. 50.25% of the stock is owned by institutional investors and hedge funds.
Maravai LifeSciences Price Performance
Shares of NASDAQ:MRVI traded up $0.19 during midday trading on Friday, hitting $5.68. 1,213,044 shares of the stock were exchanged, compared to its average volume of 1,085,322. Maravai LifeSciences Holdings, Inc. has a twelve month low of $4.28 and a twelve month high of $11.56. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89. The company has a 50 day moving average price of $5.80 and a 200-day moving average price of $7.45. The stock has a market cap of $1.43 billion, a P/E ratio of -3.46 and a beta of -0.08.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on MRVI. The Goldman Sachs Group lowered shares of Maravai LifeSciences from a "neutral" rating to a "sell" rating and reduced their price objective for the company from $7.00 to $4.25 in a report on Thursday, December 5th. Royal Bank of Canada lowered their target price on shares of Maravai LifeSciences from $17.00 to $13.00 and set an "outperform" rating on the stock in a research report on Friday, November 8th. Robert W. Baird dropped their price target on Maravai LifeSciences from $10.00 to $9.00 and set an "outperform" rating on the stock in a research report on Friday, November 8th. Wolfe Research initiated coverage on Maravai LifeSciences in a research note on Thursday, November 14th. They set a "peer perform" rating for the company. Finally, Guggenheim began coverage on Maravai LifeSciences in a report on Thursday, December 19th. They issued a "neutral" rating for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Maravai LifeSciences currently has an average rating of "Hold" and a consensus price target of $10.28.
Get Our Latest Research Report on MRVI
Insiders Place Their Bets
In related news, insider Carl Hull bought 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, for a total transaction of $987,000.00. Following the acquisition, the insider now owns 175,000 shares in the company, valued at $987,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.63% of the stock is currently owned by company insiders.
Maravai LifeSciences Company Profile
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Free Report)
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.
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