12 West Capital Management LP trimmed its position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 17.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,591,335 shares of the company's stock after selling 2,419,844 shares during the quarter. Maravai LifeSciences accounts for approximately 6.6% of 12 West Capital Management LP's investment portfolio, making the stock its 5th biggest position. 12 West Capital Management LP owned 4.59% of Maravai LifeSciences worth $63,173,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of MRVI. Performa Ltd US LLC raised its stake in shares of Maravai LifeSciences by 614.3% in the fourth quarter. Performa Ltd US LLC now owns 5,000 shares of the company's stock valued at $27,000 after acquiring an additional 4,300 shares in the last quarter. FNY Investment Advisers LLC raised its position in Maravai LifeSciences by 600.0% in the 4th quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company's stock valued at $38,000 after purchasing an additional 6,000 shares in the last quarter. Farther Finance Advisors LLC raised its position in Maravai LifeSciences by 3,541.4% in the 4th quarter. Farther Finance Advisors LLC now owns 10,196 shares of the company's stock valued at $56,000 after purchasing an additional 9,916 shares in the last quarter. Cibc World Markets Corp purchased a new position in shares of Maravai LifeSciences in the 4th quarter valued at about $56,000. Finally, Atria Investments Inc acquired a new position in shares of Maravai LifeSciences during the fourth quarter worth about $58,000. 50.25% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the stock. Guggenheim initiated coverage on shares of Maravai LifeSciences in a report on Thursday, December 19th. They issued a "neutral" rating on the stock. Morgan Stanley decreased their price objective on shares of Maravai LifeSciences from $7.00 to $5.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 25th. Baird R W lowered Maravai LifeSciences from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 26th. UBS Group cut their price target on Maravai LifeSciences from $8.00 to $2.50 and set a "neutral" rating on the stock in a research note on Friday, March 21st. Finally, Stifel Nicolaus set a $5.00 price objective on Maravai LifeSciences in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $6.34.
Read Our Latest Research Report on MRVI
Maravai LifeSciences Stock Performance
Shares of MRVI traded down $0.04 during midday trading on Tuesday, reaching $1.73. 2,111,963 shares of the stock were exchanged, compared to its average volume of 2,353,499. Maravai LifeSciences Holdings, Inc. has a twelve month low of $1.69 and a twelve month high of $11.56. 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 company has a market capitalization of $440.00 million, a price-to-earnings ratio of -1.05 and a beta of 0.18. The business's 50-day moving average price is $2.83 and its 200 day moving average price is $4.96.
Insider Buying and Selling
In other news, General Counsel Kurt Oreshack sold 25,000 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $5.03, for a total value of $125,750.00. Following the completion of the sale, the general counsel now directly owns 167,618 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. 0.63% of the stock is currently owned by company insiders.
About Maravai LifeSciences
(
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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