Connor Clark & Lunn Investment Management Ltd. Sells 60,195 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 13.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 390,267 shares of the company’s stock after selling 60,195 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.15% of Maravai LifeSciences worth $3,243,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in Maravai LifeSciences by 30.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 506,413 shares of the company’s stock valued at $3,626,000 after acquiring an additional 117,120 shares during the period. Dragoneer Investment Group LLC acquired a new stake in shares of Maravai LifeSciences during the 2nd quarter worth about $5,373,000. Lazard Asset Management LLC boosted its holdings in shares of Maravai LifeSciences by 6,252.8% during the 1st quarter. Lazard Asset Management LLC now owns 365,159 shares of the company’s stock worth $3,165,000 after buying an additional 359,411 shares during the period. Principal Financial Group Inc. grew its stake in Maravai LifeSciences by 62.4% in the 2nd quarter. Principal Financial Group Inc. now owns 666,187 shares of the company’s stock valued at $4,770,000 after buying an additional 255,990 shares during the last quarter. Finally, Sivik Global Healthcare LLC raised its holdings in Maravai LifeSciences by 23.3% in the 2nd quarter. Sivik Global Healthcare LLC now owns 450,000 shares of the company’s stock valued at $3,222,000 after acquiring an additional 85,000 shares during the period. 50.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. William Blair reiterated a “market perform” rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. The Goldman Sachs Group lowered their price objective 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. Morgan Stanley downgraded shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $11.00 to $10.00 in a research note on Tuesday, August 13th. Wells Fargo & Company assumed coverage on shares of Maravai LifeSciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $10.00 price target on the stock. Finally, Wolfe Research assumed coverage on shares of Maravai LifeSciences in a research report on Thursday, November 14th. They set a “peer perform” rating on the stock. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.33.

Maravai LifeSciences Stock Performance

Shares of NASDAQ:MRVI opened at $5.22 on Monday. Maravai LifeSciences Holdings, Inc. has a 1 year low of $4.28 and a 1 year high of $11.56. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -3.18 and a beta of 0.02. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. The company’s 50 day simple moving average is $7.37 and its 200 day simple moving average is $8.27.

Insider Buying and Selling at Maravai LifeSciences

In related news, insider Carl Hull bought 175,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was purchased at an average price of $5.64 per share, with a total value of $987,000.00. Following the completion of the acquisition, the insider now 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.63% of the company’s stock.

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.