Connor Clark & Lunn Investment Management Ltd. Sells 131,492 Shares of Maravai LifeSciences Holdings, Inc. $MRVI

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in Maravai LifeSciences by 29.4%, selling 131,492 shares during the first quarter.
• Maravai LifeSciences stock is currently down 1.5% with a market capitalization of $654.48 million and a consensus price target of $5.75 from analysts.
• Recent analyst reports have varied, with Robert W. Baird and Royal Bank Of Canada lowering their price targets on Maravai LifeSciences, indicating a cautious outlook on the stock.

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 29.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 316,502 shares of the company's stock after selling 131,492 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.12% of Maravai LifeSciences worth $699,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Alyeska Investment Group L.P. increased its stake in shares of Maravai LifeSciences by 145.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 5,329,420 shares of the company's stock worth $29,045,000 after purchasing an additional 3,161,072 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Maravai LifeSciences by 1.8% during the 4th quarter. Ameriprise Financial Inc. now owns 3,611,625 shares of the company's stock worth $19,683,000 after purchasing an additional 62,123 shares during the last quarter. Geode Capital Management LLC grew its stake in Maravai LifeSciences by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 2,794,961 shares of the company's stock valued at $15,236,000 after buying an additional 42,884 shares in the last quarter. Marshall Wace LLP grew its stake in Maravai LifeSciences by 17,912.9% in the 4th quarter. Marshall Wace LLP now owns 2,778,497 shares of the company's stock valued at $15,143,000 after buying an additional 2,763,072 shares in the last quarter. Finally, Bamco Inc. NY grew its stake in Maravai LifeSciences by 3.8% in the 4th quarter. Bamco Inc. NY now owns 2,203,651 shares of the company's stock valued at $12,010,000 after buying an additional 80,000 shares in the last quarter. Hedge funds and other institutional investors own 50.25% of the company's stock.

Maravai LifeSciences Price Performance

Shares of NASDAQ MRVI traded up $0.0750 during mid-day trading on Friday, reaching $2.4650. 555,468 shares of the company were exchanged, compared to its average volume of 2,398,894. Maravai LifeSciences Holdings, Inc. has a 52 week low of $1.66 and a 52 week high of $9.60. The company has a quick ratio of 4.49, a current ratio of 5.16 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $627.74 million, a PE ratio of -1.82 and a beta of 0.28. The company's 50 day moving average price is $2.44 and its 200 day moving average price is $2.53.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Royal Bank Of Canada reduced their price objective on shares of Maravai LifeSciences from $7.00 to $5.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th. Craig Hallum reduced their price target on shares of Maravai LifeSciences from $12.00 to $10.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Finally, Robert W. Baird reduced their price target on shares of Maravai LifeSciences from $3.00 to $2.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $5.75.

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.