The Manufacturers Life Insurance Company Has $490,000 Stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

The Manufacturers Life Insurance Company boosted its holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 36.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,987 shares of the company’s stock after buying an additional 15,615 shares during the period. The Manufacturers Life Insurance Company’s holdings in Maravai LifeSciences were worth $490,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MRVI. Point72 Asset Management L.P. lifted its stake in shares of Maravai LifeSciences by 149.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,519,561 shares of the company’s stock valued at $25,200,000 after purchasing an additional 2,109,199 shares during the period. Mackenzie Financial Corp increased 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 acquiring an additional 844,325 shares in the last quarter. Dragoneer Investment Group LLC acquired a new stake in shares of Maravai LifeSciences in the 2nd quarter valued at about $5,373,000. Renaissance Technologies LLC lifted its stake in Maravai LifeSciences by 20.8% in the 2nd quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock valued at $27,791,000 after acquiring an additional 668,552 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Maravai LifeSciences by 12.3% in 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 in the last quarter. 50.25% of the stock is owned by institutional investors.

Maravai LifeSciences Price Performance

Shares of MRVI opened at $5.67 on Friday. The stock has a market cap of $1.43 billion, a PE ratio of -3.46 and a beta of -0.08. 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 business has a 50-day simple moving average of $6.52 and a two-hundred day simple moving average of $7.74. Maravai LifeSciences Holdings, Inc. has a 12-month low of $4.28 and a 12-month high of $11.56.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MRVI shares. William Blair reissued a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Robert W. Baird decreased their target price 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. Royal Bank of Canada lowered their price target on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Wolfe Research assumed coverage on Maravai LifeSciences in a report on Thursday, November 14th. They issued a “peer perform” rating for the company. Finally, The Goldman Sachs Group downgraded shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and cut their price target for the stock from $7.00 to $4.25 in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Maravai LifeSciences presently has an average rating of “Hold” and an average target price of $10.28.

Insider Buying and Selling

In related 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 acquired at an average cost of $5.64 per share, for a total transaction of $987,000.00. Following the completion of the acquisition, the insider now directly owns 175,000 shares of the company’s stock, valued at approximately $987,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.63% of the stock is owned by corporate insiders.

Maravai LifeSciences 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.