Vanguard Group Inc. Sells 60,316 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Vanguard Group Inc. reduced its stake in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 0.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 11,821,424 shares of the company’s stock after selling 60,316 shares during the period. Vanguard Group Inc.’s holdings in Maravai LifeSciences were worth $64,427,000 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. JPMorgan Chase & Co. boosted its position in shares of Maravai LifeSciences by 1,172.4% during the third quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company’s stock worth $33,658,000 after buying an additional 3,731,924 shares during the period. Barclays PLC lifted its stake in Maravai LifeSciences by 349.2% in the 3rd quarter. Barclays PLC now owns 184,189 shares of the company’s stock valued at $1,531,000 after acquiring an additional 143,184 shares in the last quarter. Empowered Funds LLC acquired a new position in Maravai LifeSciences during the 4th quarter worth approximately $155,000. Bleakley Financial Group LLC grew its stake in shares of Maravai LifeSciences by 30.1% during the 4th quarter. Bleakley Financial Group LLC now owns 41,691 shares of the company’s stock worth $227,000 after acquiring an additional 9,657 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Maravai LifeSciences by 6.3% in the third quarter. Geode Capital Management LLC now owns 2,752,077 shares of the company’s stock valued at $22,874,000 after purchasing an additional 162,601 shares during the last quarter. Institutional investors own 50.25% of the company’s stock.

Insider Activity at Maravai LifeSciences

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $5.03, for a total transaction of $125,750.00. Following the transaction, the general counsel now directly owns 167,618 shares of the company’s stock, valued at approximately $843,118.54. This trade represents a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.63% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MRVI. Baird R W downgraded shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Bank of America decreased their price objective on Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Guggenheim assumed coverage on Maravai LifeSciences in a research report on Thursday, December 19th. They set a “neutral” rating for the company. Robert W. Baird downgraded Maravai LifeSciences from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $9.00 to $3.00 in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus set a $5.00 price objective on Maravai LifeSciences in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Maravai LifeSciences has a consensus rating of “Hold” and a consensus price target of $6.34.

Maravai LifeSciences Trading Up 2.8 %

Shares of NASDAQ:MRVI opened at $1.83 on Friday. The stock has a market cap of $465.43 million, a PE ratio of -1.12 and a beta of 0.18. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89. Maravai LifeSciences Holdings, Inc. has a 12-month low of $1.72 and a 12-month high of $11.56. The business has a 50 day moving average of $2.96 and a 200-day moving average of $5.05.

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.