Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,972,189 shares of the company's stock after selling 166,286 shares during the quarter. Renaissance Technologies LLC owned 1.57% of Maravai LifeSciences worth $21,648,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MRVI. Performa Ltd US LLC raised its holdings in Maravai LifeSciences by 614.3% in the 4th quarter. Performa Ltd US LLC now owns 5,000 shares of the company's stock worth $27,000 after purchasing an additional 4,300 shares during the period. FNY Investment Advisers LLC raised its stake in shares of Maravai LifeSciences by 600.0% in the fourth quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company's stock worth $38,000 after buying an additional 6,000 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Maravai LifeSciences by 3,541.4% during the 4th quarter. Farther Finance Advisors LLC now owns 10,196 shares of the company's stock valued at $56,000 after acquiring an additional 9,916 shares during the period. Cibc World Markets Corp purchased a new stake in Maravai LifeSciences in the 4th quarter worth approximately $56,000. Finally, Atria Investments Inc purchased a new position in Maravai LifeSciences during the fourth quarter valued at approximately $58,000. Institutional investors own 50.25% of the company's stock.

Insiders Place Their Bets

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the company's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $5.03, for a total transaction of $125,750.00. Following the completion of the transaction, the general counsel now directly owns 167,618 shares of the company's stock, valued at $843,118.54. This represents a 12.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.63% of the stock is owned by insiders.

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Maravai LifeSciences Stock Down 2.3 %

NASDAQ MRVI traded down $0.04 on Tuesday, reaching $1.73. 2,111,963 shares of the stock traded hands, compared to its average volume of 2,353,499. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. The company has a fifty day moving average price of $2.83 and a 200-day moving average price of $4.96. The company has a market cap of $440.00 million, a price-to-earnings ratio of -1.05 and a beta of 0.18. Maravai LifeSciences Holdings, Inc. has a 12 month low of $1.69 and a 12 month high of $11.56.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MRVI. Stifel Nicolaus set a $5.00 price objective on shares of Maravai LifeSciences in a research note on Friday, March 21st. Bank of America reduced their price objective on Maravai LifeSciences from $9.00 to $8.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Morgan Stanley dropped their price target on 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 cut shares of Maravai LifeSciences from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Finally, UBS Group lowered their target price on shares of Maravai LifeSciences from $8.00 to $2.50 and set a "neutral" rating for the company in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $6.34.

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.