FMR LLC reduced its stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 6.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,479,235 shares of the company's stock after selling 159,159 shares during the quarter. FMR LLC owned about 0.98% of Maravai LifeSciences worth $20,602,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in Maravai LifeSciences by 310.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,585 shares of the company's stock worth $26,000 after buying an additional 2,711 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Maravai LifeSciences in the 2nd quarter worth approximately $32,000. Blue Trust Inc. acquired a new stake in shares of Maravai LifeSciences during the 2nd quarter worth approximately $44,000. Venturi Wealth Management LLC acquired a new stake in shares of Maravai LifeSciences during the 3rd quarter worth approximately $47,000. Finally, Custom Index Systems LLC acquired a new stake in shares of Maravai LifeSciences during the 3rd quarter worth approximately $97,000. Institutional investors and hedge funds own 50.25% of the company's stock.
Insider Buying and Selling
In other news, insider Carl Hull bought 175,000 shares of the company's stock in a transaction on Monday, November 11th. The stock was bought at an average cost of $5.64 per share, with a total value of $987,000.00. Following the transaction, the insider now directly owns 175,000 shares in the company, valued at $987,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.63% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently commented on MRVI. Robert W. Baird dropped 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. Wells Fargo & Company initiated coverage on Maravai LifeSciences in a research report on Tuesday, August 27th. They set an "overweight" rating and a $10.00 target price on the stock. William Blair reiterated a "market perform" rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. Wolfe Research began coverage on Maravai LifeSciences in a report on Thursday, November 14th. They issued 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 price objective for the company from $7.00 to $4.25 in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $10.03.
Read Our Latest Research Report on MRVI
Maravai LifeSciences Trading Up 9.2 %
Shares of NASDAQ:MRVI traded up $0.50 during midday trading on Tuesday, reaching $5.93. 2,017,682 shares of the company's stock were exchanged, compared to its average volume of 2,240,957. The firm's 50 day simple moving average is $6.69 and its two-hundred day simple moving average is $7.86. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -3.51 and a beta of -0.08. Maravai LifeSciences Holdings, Inc. has a fifty-two week low of $4.28 and a fifty-two week high of $11.56.
Maravai LifeSciences 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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