Bank of New York Mellon Corp Lowers Stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Bank of New York Mellon Corp trimmed its stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 21.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 315,294 shares of the company’s stock after selling 83,940 shares during the quarter. Bank of New York Mellon Corp’s holdings in Maravai LifeSciences were worth $1,718,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. SG Americas Securities LLC increased its stake in Maravai LifeSciences by 7.3% during the fourth quarter. SG Americas Securities LLC now owns 33,046 shares of the company’s stock valued at $180,000 after purchasing an additional 2,239 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Maravai LifeSciences by 10.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 30,076 shares of the company’s stock worth $164,000 after buying an additional 2,851 shares during the period. FNY Investment Advisers LLC lifted its position in shares of Maravai LifeSciences by 600.0% in the fourth quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock worth $38,000 after purchasing an additional 6,000 shares in the last quarter. Orion Portfolio Solutions LLC raised its position in Maravai LifeSciences by 4.8% during the third quarter. Orion Portfolio Solutions LLC now owns 135,749 shares of the company’s stock valued at $1,128,000 after acquiring an additional 6,177 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its position in shares of Maravai LifeSciences by 30.1% in the fourth quarter. Bleakley Financial Group LLC now owns 41,691 shares of the company’s stock valued at $227,000 after purchasing an additional 9,657 shares during the period. 50.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group downgraded shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $7.00 to $4.25 in a research note on Thursday, December 5th. UBS Group decreased their target price on Maravai LifeSciences from $8.00 to $2.50 and set a “neutral” rating for the company in a research report on Friday. Guggenheim started coverage on Maravai LifeSciences in a research report on Thursday, December 19th. They set a “neutral” rating for the company. Baird R W cut Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, Bank of America decreased their price objective on Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $8.22.

Insiders Place Their Bets

In related news, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $5.03, for a total transaction of $125,750.00. Following the transaction, the general counsel now owns 167,618 shares of the company’s stock, valued at $843,118.54. The trade was a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.63% of the stock is currently owned by corporate insiders.

Maravai LifeSciences Price Performance

Shares of MRVI opened at $2.27 on Friday. Maravai LifeSciences Holdings, Inc. has a 1 year low of $2.07 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 company has a market capitalization of $573.24 million, a price-to-earnings ratio of -1.38 and a beta of -0.08. The business has a 50-day moving average of $3.96 and a 200-day moving average of $5.81.

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.