Massachusetts Financial Services Co. MA Sells 948,778 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Massachusetts Financial Services Co. MA lowered its holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 20.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,601,725 shares of the company's stock after selling 948,778 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.43% of Maravai LifeSciences worth $29,930,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Intech Investment Management LLC bought a new position in Maravai LifeSciences in the 3rd quarter worth about $200,000. Thrivent Financial for Lutherans grew its position in Maravai LifeSciences by 14.3% in the third quarter. Thrivent Financial for Lutherans now owns 214,645 shares of the company's stock worth $1,784,000 after acquiring an additional 26,885 shares in the last quarter. Royce & Associates LP increased its position in shares of Maravai LifeSciences by 130.4% during the 3rd 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. Victory Capital Management Inc. raised its stake in shares of Maravai LifeSciences by 312.3% during the third quarter. Victory Capital Management Inc. now owns 58,327 shares of the company's stock worth $485,000 after acquiring an additional 44,180 shares in the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in Maravai LifeSciences in the third quarter worth $47,000. 50.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MRVI shares. Royal Bank of Canada decreased 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 note on Friday, November 8th. UBS Group upped their price target on Maravai LifeSciences from $8.50 to $11.00 and gave the stock a "neutral" rating in a research note on Thursday, August 8th. Morgan Stanley lowered Maravai LifeSciences from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $11.00 to $10.00 in a research report on Tuesday, August 13th. Wells Fargo & Company assumed coverage on shares of Maravai LifeSciences in a research note on Tuesday, August 27th. They issued an "overweight" rating and a $10.00 price target for the company. Finally, The Goldman Sachs Group cut their price objective on shares of Maravai LifeSciences from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Maravai LifeSciences currently has a consensus rating of "Moderate Buy" and an average price target of $10.33.

Insiders Place Their Bets

In other Maravai LifeSciences news, insider Carl Hull purchased 175,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average price of $5.64 per share, with a total value of $987,000.00. Following the acquisition, the insider now owns 175,000 shares in the company, valued at approximately $987,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.63% of the company's stock.

Maravai LifeSciences Price Performance

MRVI stock traded up $0.33 during mid-day trading on Tuesday, hitting $5.62. The company had a trading volume of 3,319,213 shares, compared to its average volume of 2,264,738. The company has a 50-day moving average price of $7.22 and a 200 day moving average price of $8.21. Maravai LifeSciences Holdings, Inc. has a 12-month low of $4.28 and a 12-month high of $11.56. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -3.43 and a beta of 0.02. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89.

Maravai LifeSciences Profile

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.