Connor Clark & Lunn Investment Management Ltd. Sells 60,195 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Connor Clark & Lunn Investment Management Ltd. reduced its position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 13.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 390,267 shares of the company’s stock after selling 60,195 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Maravai LifeSciences were worth $3,243,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Point72 Asset Management L.P. grew its holdings in Maravai LifeSciences by 149.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,519,561 shares of the company’s stock worth $25,200,000 after acquiring an additional 2,109,199 shares during the period. Mackenzie Financial Corp lifted its stake in Maravai LifeSciences by 16.8% in the second quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock valued at $41,962,000 after buying an additional 844,325 shares during the period. Dragoneer Investment Group LLC bought a new position in shares of Maravai LifeSciences during the 2nd quarter worth approximately $5,373,000. Renaissance Technologies LLC grew its position in shares of Maravai LifeSciences by 20.8% during the 2nd quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock worth $27,791,000 after buying an additional 668,552 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Maravai LifeSciences by 12.3% in the 2nd quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock valued at $42,735,000 after acquiring an additional 653,639 shares in the last quarter. Institutional investors own 50.25% of the company’s stock.

Insider Transactions at Maravai LifeSciences

In other news, insider Carl Hull acquired 175,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were purchased at an average price of $5.64 per share, for a total transaction of $987,000.00. Following the completion of the transaction, the insider now owns 175,000 shares of the company’s stock, valued at $987,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.63% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on MRVI. Wolfe Research started coverage on shares of Maravai LifeSciences in a research note on Thursday, November 14th. They issued a “peer perform” rating for the company. Morgan Stanley lowered Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $11.00 to $10.00 in a research report on Tuesday, August 13th. Royal Bank of Canada dropped 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. UBS Group increased their price target on Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Finally, Wells Fargo & Company began coverage on shares of Maravai LifeSciences in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.33.

Maravai LifeSciences Price Performance

Maravai LifeSciences stock opened at $5.22 on Monday. The firm has a market capitalization of $1.32 billion, a P/E ratio of -3.18 and a beta of 0.02. Maravai LifeSciences Holdings, Inc. has a one year low of $4.28 and a one year high of $11.56. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. The business has a fifty day moving average price of $7.37 and a 200-day moving average price of $8.27.

Maravai LifeSciences 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.