Prudential Financial Inc. Sells 52,600 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Prudential Financial Inc. lowered its position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 8.2% during the 4th quarter, Holdings Channel reports. The firm owned 591,505 shares of the company’s stock after selling 52,600 shares during the quarter. Prudential Financial Inc.’s holdings in Maravai LifeSciences were worth $3,224,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Performa Ltd US LLC grew its position in shares of Maravai LifeSciences by 614.3% during the 4th quarter. Performa Ltd US LLC now owns 5,000 shares of the company’s stock worth $27,000 after buying an additional 4,300 shares in the last quarter. FNY Investment Advisers LLC increased its position in Maravai LifeSciences by 600.0% during the 4th quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock valued at $38,000 after purchasing an additional 6,000 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Maravai LifeSciences by 3,541.4% in the 4th quarter. Farther Finance Advisors LLC now owns 10,196 shares of the company’s stock valued at $56,000 after purchasing an additional 9,916 shares in the last quarter. Cibc World Markets Corp purchased a new stake in shares of Maravai LifeSciences in the 4th quarter worth approximately $56,000. Finally, Atria Investments Inc bought a new position in shares of Maravai LifeSciences during the fourth quarter valued at approximately $58,000. 50.25% of the stock is owned by institutional investors.

Maravai LifeSciences Trading Up 2.3 %

Shares of Maravai LifeSciences stock opened at $2.21 on Thursday. The firm’s 50 day simple moving average is $3.55 and its two-hundred day simple moving average is $5.45. The firm has a market capitalization of $562.08 million, a price-to-earnings ratio of -1.35 and a beta of -0.08. Maravai LifeSciences Holdings, Inc. has a 12-month low of $2.07 and a 12-month high of $11.56. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89.

Insider Activity

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $5.03, for a total transaction of $125,750.00. Following the sale, the general counsel now owns 167,618 shares in the company, valued at approximately $843,118.54. The trade was a 12.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.63% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on MRVI. Morgan Stanley reduced 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 research note on Tuesday, March 25th. Baird R W downgraded Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Guggenheim initiated coverage on Maravai LifeSciences in a research note on Thursday, December 19th. They issued a “neutral” rating on the stock. Stifel Nicolaus set a $5.00 price target on shares of Maravai LifeSciences in a research report on Friday, March 21st. Finally, Bank of America cut their price objective on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. One investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.31.

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.