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. trimmed its holdings in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 29.4% in the first 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 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Teacher Retirement System of Texas acquired a new position in Maravai LifeSciences during the 1st quarter worth approximately $37,000. Performa Ltd US LLC boosted its position in Maravai LifeSciences by 245.0% during the 1st quarter. Performa Ltd US LLC now owns 17,250 shares of the company's stock worth $38,000 after acquiring an additional 12,250 shares during the last quarter. Pekin Hardy Strauss Inc. acquired a new position in Maravai LifeSciences during the 1st quarter worth approximately $55,000. Simplicity Wealth LLC acquired a new position in Maravai LifeSciences during the 1st quarter worth approximately $67,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in Maravai LifeSciences during the 4th quarter worth approximately $78,000. 50.25% of the stock is owned by institutional investors.

Maravai LifeSciences Stock Performance

MRVI stock traded up $0.06 during trading hours on Friday, hitting $2.45. 895,658 shares of the stock were exchanged, compared to its average volume of 1,561,469. The company has a current ratio of 5.16, a quick ratio of 4.49 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $623.92 million, a P/E ratio of -1.80 and a beta of 0.28. The company has a 50-day simple moving average of $2.45 and a two-hundred day simple moving average of $2.50. Maravai LifeSciences Holdings, Inc. has a 12 month low of $1.66 and a 12 month high of $9.60.

Wall Street Analysts Forecast Growth

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

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.