Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 47.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 352,600 shares of the company's stock after selling 313,587 shares during the period. Principal Financial Group Inc. owned 0.14% of Maravai LifeSciences worth $2,930,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC lifted 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 valued at $26,000 after purchasing an additional 2,711 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Maravai LifeSciences in the second quarter worth about $32,000. Blue Trust Inc. acquired a new position in Maravai LifeSciences during the second quarter worth about $44,000. Custom Index Systems LLC purchased a new stake in Maravai LifeSciences during the 3rd quarter valued at about $97,000. Finally, Headlands Technologies LLC raised its holdings in Maravai LifeSciences by 205.9% in the 2nd quarter. Headlands Technologies LLC now owns 14,935 shares of the company's stock valued at $107,000 after acquiring an additional 10,053 shares during the last quarter. 50.25% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Carl Hull acquired 175,000 shares of the stock in a transaction dated Monday, November 11th. The stock was acquired at an average cost of $5.64 per share, with a total value of $987,000.00. Following the completion of the transaction, the insider now owns 175,000 shares in the company, valued at $987,000. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.63% of the stock is owned by company insiders.

Maravai LifeSciences Trading Up 5.2 %

Maravai LifeSciences stock traded up $0.26 during midday trading on Friday, reaching $5.22. 1,302,664 shares of the stock traded hands, compared to its average volume of 2,576,875. 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 firm has a market cap of $1.32 billion, a PE ratio of -3.18 and a beta of 0.02. The company has a 50-day simple moving average of $7.37 and a two-hundred day simple moving average of $8.28. Maravai LifeSciences Holdings, Inc. has a 12-month low of $4.28 and a 12-month high of $11.56.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MRVI shares. Wells Fargo & Company initiated coverage on Maravai LifeSciences in a report on Tuesday, August 27th. They set an "overweight" rating and a $10.00 target price on the stock. Robert W. Baird cut their target price on Maravai LifeSciences from $10.00 to $9.00 and set an "outperform" rating for the company in a research note on Friday, November 8th. Morgan Stanley cut shares of Maravai LifeSciences from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $11.00 to $10.00 in a research report on Tuesday, August 13th. Wolfe Research began coverage on shares of Maravai LifeSciences in a research report on Thursday, November 14th. They set a "peer perform" rating for the company. Finally, William Blair reiterated a "market perform" rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Maravai LifeSciences currently has an average rating of "Moderate Buy" and a consensus target price of $10.33.

Maravai LifeSciences Company 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.