138,422 Shares in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Bought by Readystate Asset Management LP

Readystate Asset Management LP acquired a new stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 138,422 shares of the company's stock, valued at approximately $1,150,000. Readystate Asset Management LP owned approximately 0.05% of Maravai LifeSciences as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Point72 DIFC Ltd bought a new position in Maravai LifeSciences in the third quarter valued at about $22,108,000. Clearline Capital LP bought a new position in Maravai LifeSciences in the third quarter valued at about $1,573,000. Erste Asset Management GmbH bought a new position in Maravai LifeSciences in the third quarter valued at about $239,000. MetLife Investment Management LLC raised its position in Maravai LifeSciences by 129.1% in the third quarter. MetLife Investment Management LLC now owns 64,736 shares of the company's stock valued at $538,000 after purchasing an additional 36,476 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Maravai LifeSciences by 36.0% in the third quarter. The Manufacturers Life Insurance Company now owns 58,987 shares of the company's stock valued at $490,000 after purchasing an additional 15,615 shares during the last quarter. 50.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. William Blair restated a "market perform" rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. Wolfe Research assumed coverage on Maravai LifeSciences in a research report on Thursday, November 14th. They set a "peer perform" rating for the company. Morgan Stanley downgraded Maravai LifeSciences from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $11.00 to $10.00 in a research report on Tuesday, August 13th. UBS Group raised their price objective on Maravai LifeSciences from $8.50 to $11.00 and gave the stock a "neutral" rating in a research report on Thursday, August 8th. Finally, Wells Fargo & Company began coverage on Maravai LifeSciences in a research report on Tuesday, August 27th. They set an "overweight" rating and a $10.00 price objective for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $10.03.

Maravai LifeSciences Stock Down 4.1 %

Maravai LifeSciences stock traded down $0.22 during mid-day trading on Thursday, reaching $5.20. The stock had a trading volume of 1,392,925 shares, compared to its average volume of 2,242,412. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. Maravai LifeSciences Holdings, Inc. has a fifty-two week low of $4.28 and a fifty-two week high of $11.56. The stock's 50-day simple moving average is $6.88 and its 200-day simple moving average is $8.00. The firm has a market capitalization of $1.31 billion, a PE ratio of -3.10 and a beta of -0.08.

Insider Buying and Selling at Maravai LifeSciences

In related news, insider Carl Hull bought 175,000 shares of the business's stock in a transaction that occurred on Monday, November 11th. The shares were bought at an average price of $5.64 per share, with a total value of $987,000.00. Following the completion of the transaction, the insider now directly owns 175,000 shares in the company, valued at approximately $987,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.63% of the company's stock.

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.