Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 20.8% during the 3rd quarter, Holdings Channel reports. 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’s holdings in Maravai LifeSciences were worth $29,930,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MRVI. GAMMA Investing LLC grew its holdings in shares of Maravai LifeSciences by 310.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock worth $26,000 after acquiring an additional 2,711 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Maravai LifeSciences in the 2nd quarter worth $32,000. Blue Trust Inc. acquired a new position in shares of Maravai LifeSciences in the 2nd quarter worth $44,000. Venturi Wealth Management LLC acquired a new position in shares of Maravai LifeSciences in the 3rd quarter worth $47,000. Finally, Custom Index Systems LLC acquired a new position in shares of Maravai LifeSciences in the 3rd quarter worth $97,000. 50.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Maravai LifeSciences

In other news, insider Carl Hull acquired 175,000 shares of Maravai LifeSciences 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 completion of the transaction, the insider now owns 175,000 shares in the company, valued at approximately $987,000. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.63% of the company’s stock.

Maravai LifeSciences Price Performance

MRVI opened at $5.29 on Tuesday. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -3.23 and a beta of 0.02. Maravai LifeSciences Holdings, Inc. has a 1 year low of $4.28 and a 1 year high of $11.56. 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 stock has a fifty day moving average price of $7.29 and a 200 day moving average price of $8.24.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MRVI. The Goldman Sachs Group decreased their target price on Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, October 8th. Royal Bank of Canada decreased their target price on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Wells Fargo & Company started coverage on Maravai LifeSciences in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 target price for the company. Morgan Stanley cut Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $11.00 to $10.00 in a research report on Tuesday, August 13th. Finally, Wolfe Research started coverage on Maravai LifeSciences in a research report on Thursday, November 14th. They issued a “peer perform” rating for the company. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Maravai LifeSciences currently has a consensus 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.