Braidwell LP Reduces Stock Position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Braidwell LP trimmed its holdings in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 7.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,353,287 shares of the company's stock after selling 670,750 shares during the quarter. Maravai LifeSciences accounts for about 2.0% of Braidwell LP's portfolio, making the stock its 20th largest position. Braidwell LP owned 3.31% of Maravai LifeSciences worth $69,416,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its position in shares of 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 in the last quarter. Dragoneer Investment Group LLC bought a new stake in Maravai LifeSciences during the 2nd quarter worth approximately $5,373,000. Principal Financial Group Inc. increased its holdings in shares of Maravai LifeSciences by 62.4% in the second quarter. Principal Financial Group Inc. now owns 666,187 shares of the company's stock worth $4,770,000 after purchasing an additional 255,990 shares during the period. Sivik Global Healthcare LLC raised its holdings in shares of Maravai LifeSciences by 23.3% in the 2nd quarter. Sivik Global Healthcare LLC now owns 450,000 shares of the company's stock valued at $3,222,000 after acquiring an additional 85,000 shares in the last quarter. Finally, Royce & Associates LP lifted its position in Maravai LifeSciences by 130.4% during the third quarter. Royce & Associates LP now owns 908,778 shares of the company's stock valued at $7,552,000 after purchasing an additional 514,332 shares during the last quarter. 50.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Maravai LifeSciences

In other Maravai LifeSciences news, insider Carl Hull bought 175,000 shares of the company's stock in a transaction dated Monday, November 11th. The shares were purchased at an average cost of $5.64 per share, for a total transaction of $987,000.00. Following the transaction, the insider now directly owns 175,000 shares of the company's stock, valued at approximately $987,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.63% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MRVI has been the topic of several recent research reports. William Blair reaffirmed a "market perform" rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Royal Bank of Canada reduced their target price on Maravai LifeSciences from $17.00 to $13.00 and set an "outperform" rating on the stock in a report on Friday, November 8th. The Goldman Sachs Group lowered their price target on Maravai LifeSciences from $8.00 to $7.00 and set a "neutral" rating for the company 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 stock a "neutral" rating in a research note on Thursday, August 8th. Finally, Robert W. Baird lowered their price objective on shares of Maravai LifeSciences from $10.00 to $9.00 and set an "outperform" rating on the stock in a research note on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, Maravai LifeSciences has an average rating of "Moderate Buy" and a consensus price target of $10.33.

Maravai LifeSciences Price Performance

Shares of NASDAQ:MRVI traded down $0.25 on Friday, reaching $5.67. The company's stock had a trading volume of 831,114 shares, compared to its average volume of 2,258,890. 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 company has a market cap of $1.43 billion, a P/E ratio of -3.46 and a beta of 0.02. The company has a 50-day simple moving average of $7.04 and a 200 day simple moving average of $8.12.

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.