Braidwell LP Has $69.42 Million Stock Holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Braidwell LP cut its holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 7.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,353,287 shares of the company’s stock after selling 670,750 shares during the quarter. Maravai LifeSciences comprises approximately 2.0% of Braidwell LP’s holdings, making the stock its 20th largest position. Braidwell LP’s holdings in Maravai LifeSciences were worth $69,416,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake in shares of Maravai LifeSciences by 310.2% in the second quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock worth $26,000 after buying an additional 2,711 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Maravai LifeSciences in the second quarter worth $32,000. Venturi Wealth Management LLC acquired a new stake in shares of Maravai LifeSciences in the third quarter worth $47,000. Blue Trust Inc. acquired a new stake in shares of Maravai LifeSciences in the second quarter worth $44,000. Finally, Custom Index Systems LLC acquired a new stake in shares of Maravai LifeSciences in the third quarter worth $97,000. 50.25% of the stock is currently owned by institutional investors and hedge funds.

Maravai LifeSciences Stock Performance

MRVI opened at $5.92 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. Maravai LifeSciences Holdings, Inc. has a 1-year low of $4.28 and a 1-year high of $11.56. The firm has a 50-day moving average price of $7.16 and a two-hundred day moving average price of $8.19.

Insider Activity

In other news, insider Carl Hull acquired 175,000 shares of Maravai LifeSciences stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average price of $5.64 per share, with a total value of $987,000.00. Following the purchase, the insider now directly owns 175,000 shares of the company’s stock, valued at $987,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.63% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MRVI shares. The Goldman Sachs Group cut 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. UBS Group increased their price objective on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Morgan Stanley cut shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $11.00 to $10.00 in a research note on Tuesday, August 13th. Royal Bank of Canada dropped their target price on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Finally, Wells Fargo & Company initiated coverage on shares of Maravai LifeSciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $10.00 target price for the company. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.