189,239 Shares in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Purchased by Clearline Capital LP

Clearline Capital LP acquired a new stake in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) in the third quarter, HoldingsChannel reports. The fund acquired 189,239 shares of the company’s stock, valued at approximately $1,573,000.

Other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in shares of Maravai LifeSciences by 30.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 506,413 shares of the company’s stock valued at $3,626,000 after buying an additional 117,120 shares during the last quarter. Dragoneer Investment Group LLC acquired a new position in Maravai LifeSciences during the 2nd quarter worth $5,373,000. Principal Financial Group Inc. increased its position in shares of Maravai LifeSciences by 62.4% in the 2nd quarter. Principal Financial Group Inc. now owns 666,187 shares of the company’s stock worth $4,770,000 after purchasing an additional 255,990 shares during the last quarter. Sivik Global Healthcare LLC raised its stake in shares of Maravai LifeSciences by 23.3% in the 2nd quarter. Sivik Global Healthcare LLC now owns 450,000 shares of the company’s stock valued at $3,222,000 after purchasing an additional 85,000 shares in the last quarter. Finally, Royce & Associates LP lifted its position in shares of Maravai LifeSciences by 130.4% during the third quarter. Royce & Associates LP now owns 908,778 shares of the company’s stock worth $7,552,000 after purchasing an additional 514,332 shares during the last quarter. Institutional investors and hedge funds own 50.25% of the company’s stock.

Wall Street Analyst Weigh In

MRVI has been the topic of several research reports. Robert W. Baird cut their price objective on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. William Blair restated a “market perform” rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. The Goldman Sachs Group lowered their target price 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. Wolfe Research began coverage on shares of Maravai LifeSciences in a research report on Thursday, November 14th. They issued a “peer perform” rating on the stock. Finally, Wells Fargo & Company assumed coverage on shares of Maravai LifeSciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $10.00 price objective for the company. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.33.

Maravai LifeSciences Price Performance

NASDAQ MRVI opened at $5.67 on Monday. The company has a 50-day moving average price of $7.04 and a two-hundred day moving average price of $8.10. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -3.46 and a beta of 0.02. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89. Maravai LifeSciences Holdings, Inc. has a 52 week low of $4.28 and a 52 week high of $11.56.

Insider Activity at Maravai LifeSciences

In other Maravai LifeSciences news, insider Carl Hull purchased 175,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was bought at an average price of $5.64 per share, with a total value of $987,000.00. Following the completion of the purchase, the insider now owns 175,000 shares in the company, valued at $987,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.63% of the stock is owned by 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.