Algert Global LLC Cuts Stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Algert Global LLC cut its holdings in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 32.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 101,718 shares of the company’s stock after selling 49,160 shares during the quarter. Algert Global LLC’s holdings in Maravai LifeSciences were worth $845,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Maravai LifeSciences by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 10,038,126 shares of the company’s stock valued at $87,031,000 after purchasing an additional 34,232 shares during the last quarter. Millennium Management LLC grew its stake in shares of Maravai LifeSciences by 12.3% during the second quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock valued at $42,735,000 after buying an additional 653,639 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of Maravai LifeSciences by 16.8% in the second quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock worth $41,962,000 after buying an additional 844,325 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Maravai LifeSciences by 15.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,550,503 shares of the company’s stock valued at $32,582,000 after acquiring an additional 598,530 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Maravai LifeSciences by 20.8% during the 2nd quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock valued at $27,791,000 after acquiring an additional 668,552 shares during the period. 50.25% of the stock is currently owned by institutional investors.

Insider Transactions at Maravai LifeSciences

In other Maravai LifeSciences news, insider Carl Hull bought 175,000 shares of Maravai LifeSciences stock in a transaction dated 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 transaction, the insider now directly owns 175,000 shares of the company’s stock, valued at $987,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.63% of the company’s stock.

Maravai LifeSciences Price Performance

MRVI stock opened at $5.67 on Friday. The firm has a 50-day moving average of $7.04 and a 200 day moving average of $8.14. 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 company has a market cap of $1.43 billion, a P/E ratio of -3.46 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.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MRVI. Wells Fargo & Company initiated coverage on Maravai LifeSciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price target on the stock. UBS Group lifted their target price on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Robert W. Baird dropped their price target on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Wolfe Research started coverage on shares of Maravai LifeSciences in a report on Thursday, November 14th. They issued a “peer perform” rating on the stock. Finally, The Goldman Sachs Group lowered their price objective on shares of Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Maravai LifeSciences has an average rating of “Moderate Buy” and a consensus price target 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.