Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Stake Lowered by Jennison Associates LLC

Jennison Associates LLC decreased its stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 34.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,980,645 shares of the company’s stock after selling 1,574,052 shares during the period. Jennison Associates LLC owned 1.18% of Maravai LifeSciences worth $24,769,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in shares of Maravai LifeSciences by 310.2% during the second quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock valued at $26,000 after acquiring 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 acquired a new position in Maravai LifeSciences during the 3rd quarter valued at about $47,000. Finally, Custom Index Systems LLC bought a new position in Maravai LifeSciences in the 3rd quarter worth about $97,000. 50.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. UBS Group boosted their price objective on Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Wells Fargo & Company started 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. Morgan Stanley cut shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $11.00 to $10.00 in a research note on Tuesday, August 13th. Wolfe Research began coverage on shares of Maravai LifeSciences in a research note on Thursday, November 14th. They issued a “peer perform” rating for the company. Finally, Royal Bank of Canada lowered their price objective on shares of Maravai LifeSciences from $17.00 to $13.00 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 issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $10.33.

Maravai LifeSciences Stock Performance

MRVI opened at $5.22 on Friday. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89. The firm has a market cap of $1.32 billion, a PE ratio of -3.18 and a beta of 0.02. The business has a fifty day simple moving average of $7.37 and a 200-day simple moving average of $8.28. Maravai LifeSciences Holdings, Inc. has a fifty-two week low of $4.28 and a fifty-two week high of $11.56.

Insider Activity at Maravai LifeSciences

In other news, insider Carl Hull acquired 175,000 shares of the firm’s 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 purchase, 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 legal filing with the SEC, which is available at the SEC website. 0.63% of the stock is currently owned by corporate insiders.

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.