Portolan Capital Management LLC Has $14.90 Million Stock Holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Portolan Capital Management LLC cut its stake in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 2.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,792,529 shares of the company’s stock after selling 53,611 shares during the period. Maravai LifeSciences makes up about 1.1% of Portolan Capital Management LLC’s holdings, making the stock its 26th biggest position. Portolan Capital Management LLC owned 0.71% of Maravai LifeSciences worth $14,896,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Millennium Management LLC raised its position 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 worth $42,735,000 after purchasing an additional 653,639 shares during the period. Mackenzie Financial Corp raised its position in shares of Maravai LifeSciences by 16.8% during the second quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock worth $41,962,000 after purchasing an additional 844,325 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Maravai LifeSciences by 15.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,550,503 shares of the company’s stock worth $32,582,000 after purchasing an additional 598,530 shares during the period. Renaissance Technologies LLC raised its position in shares of Maravai LifeSciences by 20.8% during the second quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock worth $27,791,000 after purchasing an additional 668,552 shares during the period. Finally, Point72 Asset Management L.P. raised its position in shares of Maravai LifeSciences by 149.6% during the second quarter. Point72 Asset Management L.P. now owns 3,519,561 shares of the company’s stock worth $25,200,000 after purchasing an additional 2,109,199 shares during the period. 50.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on MRVI. Morgan Stanley lowered Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $11.00 to $10.00 in a research report on Tuesday, August 13th. William Blair reissued a “market perform” rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. Wolfe Research began coverage on Maravai LifeSciences in a research report on Thursday, November 14th. They set a “peer perform” rating on the stock. Royal Bank of Canada dropped their price target on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Finally, The Goldman Sachs Group dropped their price target on Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Maravai LifeSciences currently has an average rating of “Moderate Buy” and a consensus target price of $10.33.

Insider Transactions at Maravai LifeSciences

In related 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, for a total transaction of $987,000.00. Following the purchase, the insider now owns 175,000 shares in the company, valued at $987,000. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.63% of the stock is currently owned by corporate insiders.

Maravai LifeSciences Stock Performance

Shares of MRVI stock opened at $5.40 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. Maravai LifeSciences Holdings, Inc. has a fifty-two week low of $4.28 and a fifty-two week high of $11.56. The stock’s 50-day moving average is $6.99 and its two-hundred day moving average is $8.06. The firm has a market cap of $1.36 billion, a P/E ratio of -3.29 and a beta of -0.08.

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.