Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Shares Sold by Braidwell LP

Braidwell LP cut its holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 7.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 8,353,287 shares of the company’s stock after selling 670,750 shares during the period. Maravai LifeSciences comprises approximately 2.0% of Braidwell LP’s holdings, making the stock its 20th biggest position. Braidwell LP owned 3.31% of Maravai LifeSciences worth $69,416,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC boosted 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 valued at $26,000 after buying an additional 2,711 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Maravai LifeSciences in the 2nd quarter valued at about $32,000. Blue Trust Inc. bought a new stake in Maravai LifeSciences in the 2nd quarter valued at about $44,000. Venturi Wealth Management LLC bought a new stake in Maravai LifeSciences in the 3rd quarter valued at about $47,000. Finally, Custom Index Systems LLC bought a new stake in Maravai LifeSciences in the 3rd quarter valued at about $97,000. 50.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Maravai LifeSciences

In related news, insider Carl Hull acquired 175,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were purchased 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 of the company’s stock, valued at approximately $987,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.63% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Royal Bank of Canada dropped their price target on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Wolfe Research assumed coverage on shares of Maravai LifeSciences in a research note on Thursday, November 14th. They issued a “peer perform” rating on the stock. Wells Fargo & Company assumed coverage on shares of Maravai LifeSciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price objective on the stock. Morgan Stanley cut shares of 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 note on Tuesday, August 13th. Finally, Robert W. Baird lowered their price objective on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Maravai LifeSciences presently has an average rating of “Moderate Buy” and a consensus price target of $10.33.

Maravai LifeSciences Price Performance

Shares of MRVI opened at $5.92 on Friday. The company’s 50 day moving average price is $7.16 and its 200 day moving average price is $8.19. Maravai LifeSciences Holdings, Inc. has a 52 week low of $4.28 and a 52 week high of $11.56. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89.

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.