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

Algert Global LLC decreased its stake in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 32.6% in the third quarter, Holdings Channel reports. 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 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MRVI. Creative Planning increased its holdings in shares of Maravai LifeSciences by 4.4% during the third quarter. Creative Planning now owns 44,943 shares of the company’s stock valued at $373,000 after acquiring an additional 1,881 shares in the last quarter. GAMMA Investing LLC grew its position in Maravai LifeSciences by 310.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock valued at $26,000 after purchasing an additional 2,711 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Maravai LifeSciences by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 73,595 shares of the company’s stock valued at $639,000 after purchasing an additional 3,575 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its stake in Maravai LifeSciences by 0.7% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 519,890 shares of the company’s stock valued at $4,320,000 after purchasing an additional 3,725 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Maravai LifeSciences in the second quarter worth about $32,000. 50.25% of the stock is owned by institutional investors.

Maravai LifeSciences Trading Down 4.2 %

Shares of NASDAQ:MRVI opened at $5.67 on Friday. Maravai LifeSciences Holdings, Inc. has a 52-week low of $4.28 and a 52-week high of $11.56. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -3.46 and a beta of 0.02. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. The stock’s 50-day simple moving average is $7.04 and its two-hundred day simple moving average is $8.14.

Insider Buying and Selling

In related news, insider Carl Hull bought 175,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were bought at an average cost of $5.64 per share, with a total value of $987,000.00. Following the acquisition, the insider now owns 175,000 shares in the company, valued at $987,000. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.63% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on MRVI shares. UBS Group increased their price target on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Wells Fargo & Company began coverage on Maravai LifeSciences in a report on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 target price for the company. Morgan Stanley downgraded Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $11.00 to $10.00 in a report on Tuesday, August 13th. Robert W. Baird dropped their price objective on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Finally, Wolfe Research began coverage on Maravai LifeSciences in a research report on Thursday, November 14th. They issued a “peer perform” rating for the company. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Maravai LifeSciences has a consensus rating of “Moderate Buy” and an average target price of $10.33.

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.