Goldman Sachs Group Inc. Trims Stock Position in Maravai LifeSciences Holdings, Inc. $MRVI

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Maravai LifeSciences by 12.3%, now owning approximately 1.41 million shares, valued at about $3.13 million.
• Several hedge funds have entered or increased their stakes in Maravai LifeSciences, contributing to institutional ownership that now represents 50.25% of the company's stock.
• Wall Street analysts have a consensus rating of "Hold" for Maravai LifeSciences, with an average target price of $5.22, indicating expectations for modest growth amid recent price adjustments.

Goldman Sachs Group Inc. decreased its position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 12.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,414,872 shares of the company's stock after selling 197,969 shares during the period. Goldman Sachs Group Inc. owned approximately 0.56% of Maravai LifeSciences worth $3,127,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. McAdam LLC acquired a new stake in Maravai LifeSciences in the first quarter valued at about $31,000. EntryPoint Capital LLC bought a new position in shares of Maravai LifeSciences during the first quarter worth about $32,000. Teacher Retirement System of Texas bought a new stake in Maravai LifeSciences in the first quarter worth approximately $37,000. Aigen Investment Management LP acquired a new stake in Maravai LifeSciences in the first quarter valued at approximately $37,000. Finally, Performa Ltd US LLC grew its stake in Maravai LifeSciences by 245.0% in the first quarter. Performa Ltd US LLC now owns 17,250 shares of the company's stock valued at $38,000 after acquiring an additional 12,250 shares during the period. 50.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada cut their price objective on Maravai LifeSciences from $7.00 to $5.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Three investment 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 presently has an average rating of "Hold" and a consensus target price of $5.22.

Maravai LifeSciences Stock Up 2.4%

Shares of MRVI traded up $0.07 during midday trading on Tuesday, hitting $2.82. 56,622 shares of the company's stock traded hands, compared to its average volume of 2,251,736. 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's fifty day moving average is $2.50 and its 200-day moving average is $2.32. Maravai LifeSciences Holdings, Inc. has a 1 year low of $1.66 and a 1 year high of $8.60. The stock has a market capitalization of $718.84 million, a price-to-earnings ratio of -2.07 and a beta of 0.29.

About Maravai LifeSciences

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.