Sivik Global Healthcare LLC Lowers Holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Sivik Global Healthcare LLC lessened its holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 5.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 425,000 shares of the company’s stock after selling 25,000 shares during the period. Maravai LifeSciences accounts for approximately 1.5% of Sivik Global Healthcare LLC’s holdings, making the stock its 29th largest holding. Sivik Global Healthcare LLC’s holdings in Maravai LifeSciences were worth $3,532,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC increased its position in shares of Maravai LifeSciences by 310.2% in 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. Point72 Asia Singapore Pte. Ltd. purchased a new position in Maravai LifeSciences in the second quarter valued at $32,000. Headlands Technologies LLC acquired a new stake in Maravai LifeSciences in the first quarter valued at $42,000. Blue Trust Inc. purchased a new stake in Maravai LifeSciences during the 2nd quarter worth about $44,000. Finally, Venturi Wealth Management LLC acquired a new position in shares of Maravai LifeSciences during the 3rd quarter worth about $47,000. 50.25% of the stock is currently owned by hedge funds and other institutional investors.

Maravai LifeSciences Stock Performance

MRVI traded down $0.25 during trading on Thursday, hitting $5.38. The stock had a trading volume of 40,992 shares, compared to its average volume of 2,254,760. The firm has a market capitalization of $1.36 billion, a P/E ratio of -3.43 and a beta of 0.02. The company has a debt-to-equity ratio of 0.71, a quick ratio of 9.28 and a current ratio of 10.00. Maravai LifeSciences Holdings, Inc. has a twelve month low of $4.68 and a twelve month high of $11.56. The company’s 50-day moving average price is $7.92 and its 200 day moving average price is $8.46.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MRVI. William Blair reaffirmed a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Wells Fargo & Company initiated coverage on shares of Maravai LifeSciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price objective for the company. Robert W. Baird reduced their target price on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, November 8th. UBS Group upped their target price on Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Finally, Morgan Stanley lowered Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $11.00 to $10.00 in a research report on Tuesday, August 13th. Five research 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.33.

Insider Transactions at Maravai LifeSciences

In other Maravai LifeSciences news, insider Carl Hull acquired 175,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was purchased at an average price of $5.64 per share, for a total transaction of $987,000.00. Following the completion of the transaction, the insider now owns 175,000 shares of the company’s stock, valued at $987,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.63% of the company’s stock.

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.