Clearline Capital LP Purchases Shares of 189,239 Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Clearline Capital LP acquired a new position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 189,239 shares of the company’s stock, valued at approximately $1,573,000. Clearline Capital LP owned approximately 0.08% of Maravai LifeSciences at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of MRVI. GAMMA Investing LLC raised its holdings in shares of Maravai LifeSciences by 310.2% in the second quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock worth $26,000 after acquiring an additional 2,711 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Maravai LifeSciences during the 2nd quarter worth about $32,000. Venturi Wealth Management LLC purchased a new stake in shares of Maravai LifeSciences during the third quarter worth about $47,000. Blue Trust Inc. purchased a new position in shares of Maravai LifeSciences during the second quarter valued at approximately $44,000. Finally, Custom Index Systems LLC acquired a new stake in Maravai LifeSciences during the third quarter worth approximately $97,000. 50.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Maravai LifeSciences

In other news, insider Carl Hull acquired 175,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were bought 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 of the company’s stock, valued at approximately $987,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.63% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on MRVI shares. Wolfe Research started coverage on Maravai LifeSciences in a report on Thursday, November 14th. They issued a “peer perform” rating for the company. Wells Fargo & Company began coverage on Maravai LifeSciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $10.00 target price on the stock. William Blair reaffirmed a “market perform” rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. Robert W. Baird decreased their target price on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Finally, Royal Bank of Canada dropped their price target on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Five 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.33.

Maravai LifeSciences Stock Performance

NASDAQ:MRVI opened at $5.67 on Monday. The firm’s fifty day simple moving average is $7.04 and its 200 day simple moving average is $8.10. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89. Maravai LifeSciences Holdings, Inc. has a twelve month low of $4.28 and a twelve month high of $11.56. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -3.46 and a beta of 0.02.

About Maravai LifeSciences

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.