Charles Schwab Investment Management Inc. Reduces Holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Charles Schwab Investment Management Inc. lessened its holdings in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 4.2% during the 4th quarter, HoldingsChannel reports. The firm owned 906,489 shares of the company’s stock after selling 40,087 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Maravai LifeSciences were worth $4,940,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MRVI. FNY Investment Advisers LLC boosted its position in Maravai LifeSciences by 600.0% during the fourth quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock worth $38,000 after acquiring an additional 6,000 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Maravai LifeSciences in the 3rd quarter worth approximately $105,000. Neo Ivy Capital Management purchased a new position in Maravai LifeSciences in the 3rd quarter worth approximately $136,000. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Maravai LifeSciences during the 4th quarter worth approximately $136,000. Finally, Empowered Funds LLC purchased a new stake in shares of Maravai LifeSciences in the fourth quarter valued at approximately $155,000. Hedge funds and other institutional investors own 50.25% of the company’s stock.

Insider Activity at Maravai LifeSciences

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the general counsel now directly owns 167,618 shares in the company, valued at $843,118.54. This trade represents a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.63% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Baird R W downgraded Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. The Goldman Sachs Group lowered Maravai LifeSciences from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $7.00 to $4.25 in a report on Thursday, December 5th. Morgan Stanley dropped their price objective on shares of Maravai LifeSciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Tuesday. Guggenheim started coverage on shares of Maravai LifeSciences in a research report on Thursday, December 19th. They set a “neutral” rating for the company. Finally, Bank of America decreased their target price on shares of 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 issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Maravai LifeSciences has a consensus rating of “Hold” and an average target price of $7.59.

Maravai LifeSciences Price Performance

Shares of MRVI opened at $2.30 on Wednesday. The firm has a 50-day simple moving average of $3.86 and a two-hundred day simple moving average of $5.70. The stock has a market cap of $580.81 million, a PE ratio of -1.40 and a beta of -0.08. 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.

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.