Point72 DIFC Ltd Makes New $22.11 Million Investment in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Point72 DIFC Ltd acquired a new stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,660,378 shares of the company’s stock, valued at approximately $22,108,000. Maravai LifeSciences accounts for 0.7% of Point72 DIFC Ltd’s investment portfolio, making the stock its 12th biggest position. Point72 DIFC Ltd owned about 1.05% of Maravai LifeSciences as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bank of New York Mellon Corp grew its position 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 buying an additional 117,120 shares during the last quarter. Dragoneer Investment Group LLC purchased a new stake in shares of Maravai LifeSciences in the second quarter valued at about $5,373,000. Principal Financial Group Inc. increased its stake in shares of Maravai LifeSciences by 62.4% during the second quarter. Principal Financial Group Inc. now owns 666,187 shares of the company’s stock worth $4,770,000 after acquiring an additional 255,990 shares during the period. Royce & Associates LP raised its holdings in Maravai LifeSciences by 130.4% during the third quarter. Royce & Associates LP now owns 908,778 shares of the company’s stock worth $7,552,000 after purchasing an additional 514,332 shares in the last quarter. Finally, Sivik Global Healthcare LLC raised its holdings in Maravai LifeSciences by 23.3% during the second quarter. Sivik Global Healthcare LLC now owns 450,000 shares of the company’s stock worth $3,222,000 after purchasing an additional 85,000 shares in the last quarter. 50.25% of the stock is owned by hedge funds and other institutional investors.

Maravai LifeSciences Trading Down 5.9 %

Shares of Maravai LifeSciences stock opened at $5.40 on Wednesday. Maravai LifeSciences Holdings, Inc. has a 1 year low of $4.28 and a 1 year high of $11.56. 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 business has a 50 day moving average price of $6.99 and a 200 day moving average price of $8.06. The company has a market capitalization of $1.36 billion, a P/E ratio of -3.29 and a beta of -0.08.

Analysts Set New Price Targets

Several research firms have issued reports on MRVI. William Blair reiterated a “market perform” rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. Wolfe Research began coverage on Maravai LifeSciences in a report on Thursday, November 14th. They issued a “peer perform” rating for the company. 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 note on Friday, November 8th. Robert W. Baird reduced their price objective on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Finally, Morgan Stanley downgraded shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $11.00 to $10.00 in a research report on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.33.

Insiders Place Their Bets

In other news, insider Carl Hull purchased 175,000 shares of the firm’s stock in a transaction 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 purchase, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.63% of the stock is currently owned by company 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.