Jennison Associates LLC Has $24.77 Million Stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Jennison Associates LLC cut its stake in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 34.6% during the third quarter, HoldingsChannel.com reports. The firm owned 2,980,645 shares of the company’s stock after selling 1,574,052 shares during the period. Jennison Associates LLC’s holdings in Maravai LifeSciences were worth $24,769,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its holdings in shares of Maravai LifeSciences by 30.1% during 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 in the last quarter. Dragoneer Investment Group LLC purchased a new position in Maravai LifeSciences in the second quarter valued at about $5,373,000. Bamco Inc. NY increased its position in Maravai LifeSciences by 43.1% in the 1st quarter. Bamco Inc. NY now owns 2,123,651 shares of the company’s stock worth $18,412,000 after purchasing an additional 640,000 shares during the last quarter. Lazard Asset Management LLC raised its stake 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 purchasing an additional 359,411 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Maravai LifeSciences by 62.4% during 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. Institutional investors and hedge funds own 50.25% of the company’s stock.

Maravai LifeSciences Stock Performance

NASDAQ:MRVI opened at $5.22 on Friday. The firm’s 50-day moving average is $7.37 and its 200-day moving average is $8.28. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. The company has a market cap of $1.32 billion, a price-to-earnings ratio of -3.18 and a beta of 0.02. Maravai LifeSciences Holdings, Inc. has a 52-week low of $4.28 and a 52-week high of $11.56.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MRVI shares. UBS Group raised their price objective on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. William Blair restated a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Wolfe Research started coverage on Maravai LifeSciences in a report on Thursday, November 14th. They set a “peer perform” rating on the stock. Royal Bank of Canada reduced their price target on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Finally, Wells Fargo & Company initiated coverage on Maravai LifeSciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $10.00 target price for the company. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Maravai LifeSciences has an average rating of “Moderate Buy” and a consensus target price of $10.33.

Insiders Place Their Bets

In other Maravai LifeSciences news, insider Carl Hull purchased 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 purchase, the insider now directly owns 175,000 shares in the company, valued at approximately $987,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate 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.