Venturi Wealth Management LLC Takes Position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Venturi Wealth Management LLC bought a new position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) during the third quarter, HoldingsChannel reports. The fund bought 5,705 shares of the company’s stock, valued at approximately $47,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Maravai LifeSciences by 0.3% in the first quarter. Vanguard Group Inc. now owns 10,038,126 shares of the company’s stock worth $87,031,000 after buying an additional 34,232 shares during the period. Millennium Management LLC increased its holdings in Maravai LifeSciences by 12.3% in the 2nd quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock worth $42,735,000 after acquiring an additional 653,639 shares in the last quarter. Mackenzie Financial Corp raised its stake in Maravai LifeSciences by 16.8% during the 2nd quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock worth $41,962,000 after acquiring an additional 844,325 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Maravai LifeSciences by 15.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,550,503 shares of the company’s stock valued at $32,582,000 after purchasing an additional 598,530 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Maravai LifeSciences by 20.8% in the second quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock worth $27,791,000 after purchasing an additional 668,552 shares during the period. 50.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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. 0.63% of the stock is currently owned by company insiders.

Maravai LifeSciences Stock Down 15.0 %

Shares of MRVI opened at $4.42 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.28. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -2.70 and a beta of 0.02. Maravai LifeSciences Holdings, Inc. has a 1 year low of $4.39 and a 1 year high of $11.56. The business’s 50 day simple moving average is $7.76 and its 200-day simple moving average is $8.41.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wolfe Research started coverage on shares of Maravai LifeSciences in a research report on Thursday. They set a “peer perform” rating on the stock. The Goldman Sachs Group lowered their price objective on Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 8th. UBS Group upped their price objective on Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. William Blair reissued a “market perform” rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. Finally, Wells Fargo & Company began coverage on Maravai LifeSciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price target for the company. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.33.

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.