Braidwell LP Sells 1,537,243 Shares of Maravai LifeSciences Holdings, Inc. $MRVI

Braidwell LP cut its stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 15.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,702,921 shares of the company’s stock after selling 1,537,243 shares during the quarter. Maravai LifeSciences comprises about 2.0% of Braidwell LP’s portfolio, making the stock its 15th biggest position. Braidwell LP owned approximately 3.35% of Maravai LifeSciences worth $54,306,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Jane Street Group LLC boosted its position in Maravai LifeSciences by 1,463.1% during the first quarter. Jane Street Group LLC now owns 380,403 shares of the company’s stock valued at $841,000 after purchasing an additional 356,067 shares in the last quarter. Creative Planning raised its holdings in Maravai LifeSciences by 49.6% in the second quarter. Creative Planning now owns 116,031 shares of the company’s stock worth $280,000 after purchasing an additional 38,450 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Maravai LifeSciences by 20.3% during the second quarter. Rhumbline Advisers now owns 195,272 shares of the company’s stock valued at $471,000 after buying an additional 32,940 shares during the last quarter. Prudential Financial Inc. purchased a new stake in shares of Maravai LifeSciences during the second quarter valued at about $36,000. Finally, Invesco Ltd. boosted its holdings in shares of Maravai LifeSciences by 16.8% in the 2nd quarter. Invesco Ltd. now owns 282,192 shares of the company’s stock valued at $680,000 after buying an additional 40,495 shares in the last quarter. 50.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. UBS Group reaffirmed a “reduce” rating on shares of Maravai LifeSciences in a research report on Wednesday, June 3rd. Wells Fargo & Company increased their target price on shares of Maravai LifeSciences from $5.50 to $6.50 and gave the company an “overweight” rating in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $6.00 target price on shares of Maravai LifeSciences in a research note on Friday, May 8th. Wall Street Zen lowered shares of Maravai LifeSciences from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Maravai LifeSciences in a research report on Wednesday, August 26th. Two analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $6.25.

Maravai LifeSciences Price Performance

Shares of NASDAQ MRVI opened at $7.38 on Thursday. Maravai LifeSciences Holdings, Inc. has a fifty-two week low of $2.30 and a fifty-two week high of $9.42. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.98 and a current ratio of 4.05. The company has a market cap of $1.92 billion, a PE ratio of -14.19 and a beta of 0.60. The business has a 50-day simple moving average of $6.73 and a two-hundred day simple moving average of $4.86.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.02. The firm had revenue of $51.44 million during the quarter, compared to analyst estimates of $48.67 million. Maravai LifeSciences had a negative net margin of 37.07% and a negative return on equity of 15.70%. As a group, equities analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.2 EPS for the current fiscal year.

Insider Activity

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $5.06, for a total value of $126,500.00. Following the completion of the transaction, the general counsel owned 360,767 shares of the company’s stock, valued at approximately $1,825,481.02. This trade represents a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.49% of the company’s stock.

Maravai LifeSciences Company Profile

Maravai LifeSciences Holdings, Inc (NASDAQ: MRVI) is a life sciences company specializing in the development and supply of critical reagents and services for the development and manufacture of biologic therapies. The company’s offerings support a range of applications in genomics, molecular diagnostics, vaccine development and next-generation sequencing. Maravai’s platforms address key challenges in nucleic acid production, protein detection, epigenetic analysis and reagent quality across the biopharmaceutical industry.

Through its product portfolio, which includes proprietary mRNA capping reagents, lipid nanoparticle delivery systems, synthetic oligonucleotides and high-precision assay kits, Maravai enables customers to accelerate research and streamline manufacturing workflows.