Vanguard Group Inc. Sells 162,483 Shares of Maravai LifeSciences Holdings, Inc. $MRVI

Key Points

• Vanguard Group Inc. reduced its stake in Maravai LifeSciences Holdings by 1.4%, owning approximately 4.58% of the company after selling 162,483 shares, valued at about $25.77 million.
• In the first quarter, several other institutional investors, including Teacher Retirement System of Texas and Performa Ltd US LLC, also modified their stakes in Maravai LifeSciences, indicating increased interest from diverse investors.
• Maravai LifeSciences experienced a 2.1% increase in stock price, currently trading at $2.38, despite analysts adjusting their price targets downwards, with a consensus rating of "Hold" and a target of $5.22.

Vanguard Group Inc. lowered its position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 1.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,658,941 shares of the company's stock after selling 162,483 shares during the quarter. Vanguard Group Inc. owned 4.58% of Maravai LifeSciences worth $25,766,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MRVI. Teacher Retirement System of Texas acquired a new position in shares of Maravai LifeSciences in the first quarter valued at approximately $37,000. Performa Ltd US LLC boosted its holdings in shares of 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 buying an additional 12,250 shares during the period. Pekin Hardy Strauss Inc. acquired a new position in shares of Maravai LifeSciences in the first quarter valued at approximately $55,000. Simplicity Wealth LLC acquired a new position in shares of Maravai LifeSciences in the first quarter valued at approximately $67,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in shares of Maravai LifeSciences in the fourth quarter valued at approximately $78,000. Institutional investors and hedge funds own 50.25% of the company's stock.

Maravai LifeSciences Stock Up 1.7%

Shares of MRVI stock traded up $0.04 during trading on Monday, reaching $2.42. The company's stock had a trading volume of 730,976 shares, compared to its average volume of 1,459,099. The business has a fifty day moving average price of $2.48 and a 200-day moving average price of $2.41. 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 company has a market cap of $617.98 million, a price-to-earnings ratio of -1.78 and a beta of 0.29. Maravai LifeSciences Holdings, Inc. has a one year low of $1.66 and a one year high of $9.60.

Analysts Set New Price Targets

Several research firms have recently weighed in on MRVI. 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 report on Tuesday, May 13th. 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 report on Tuesday, May 13th. Finally, Royal Bank Of Canada cut their price objective on shares of 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 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 data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $5.22.

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.