Nuveen LLC Takes $666,000 Position in Maravai LifeSciences Holdings, Inc. $MRVI

Key Points

• Nuveen LLC acquired 301,571 shares of Maravai LifeSciences Holdings, Inc., valued at approximately $666,000, representing about 0.12% ownership as reported in their recent SEC filing.
• Several large investors, including Deutsche Bank AG and SG Americas Securities LLC, significantly increased their stakes in Maravai LifeSciences during the first quarter, contributing to a total institutional ownership of 50.25%.
• Analysts have adjusted their price targets for Maravai LifeSciences, with current estimates ranging from $2.00 to $10.00, indicating a consensus "Hold" rating with a target price of $5.22.

Nuveen LLC acquired a new position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 301,571 shares of the company's stock, valued at approximately $666,000. Nuveen LLC owned about 0.12% of Maravai LifeSciences as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its stake in shares of Maravai LifeSciences by 39.8% in the fourth quarter. Wells Fargo & Company MN now owns 52,685 shares of the company's stock worth $287,000 after purchasing an additional 15,001 shares during the period. Dimensional Fund Advisors LP raised its position in Maravai LifeSciences by 20.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,311,700 shares of the company's stock worth $7,149,000 after purchasing an additional 221,908 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Maravai LifeSciences by 15.7% in the fourth quarter. MetLife Investment Management LLC now owns 74,904 shares of the company's stock valued at $408,000 after purchasing an additional 10,168 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Maravai LifeSciences by 12.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 70,828 shares of the company's stock worth $387,000 after purchasing an additional 7,946 shares during the period. Finally, Northern Trust Corp grew its position in Maravai LifeSciences by 5.3% in the fourth quarter. Northern Trust Corp now owns 1,070,425 shares of the company's stock worth $5,834,000 after acquiring an additional 53,474 shares in the last quarter. 50.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on MRVI shares. Robert W. Baird decreased their price target on shares of Maravai LifeSciences from $3.00 to $2.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Royal Bank Of Canada cut their price target on shares of Maravai LifeSciences from $7.00 to $5.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. Finally, Craig Hallum cut their price target on shares of Maravai LifeSciences from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $5.22.

Maravai LifeSciences Trading Down 2.6%

MRVI traded down $0.07 during trading on Monday, hitting $2.45. The company's stock had a trading volume of 667,651 shares, compared to its average volume of 2,307,392. The firm has a market capitalization of $624.36 million, a P/E ratio of -1.78 and a beta of 0.29. The company has a quick ratio of 4.49, a current ratio of 5.16 and a debt-to-equity ratio of 0.68. Maravai LifeSciences Holdings, Inc. has a twelve month low of $1.66 and a twelve month high of $9.50. The stock's fifty day moving average price is $2.49 and its 200-day moving average price is $2.35.

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.