Vanguard Group Inc. Has $25.77 Million Stock Holdings in 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 stake in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 1.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,658,941 shares of the company's stock after selling 162,483 shares during the quarter. Vanguard Group Inc. owned about 4.58% of Maravai LifeSciences worth $25,766,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MRVI. Teacher Retirement System of Texas bought a new position in Maravai LifeSciences during the first quarter worth $37,000. Performa Ltd US LLC increased its position in Maravai LifeSciences by 245.0% during the first 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 period. Pekin Hardy Strauss Inc. bought a new position in Maravai LifeSciences during the first quarter worth $55,000. Simplicity Wealth LLC bought a new position in Maravai LifeSciences during the first quarter worth $67,000. Finally, Sherbrooke Park Advisers LLC bought a new position in Maravai LifeSciences during the fourth quarter worth $78,000. Institutional investors own 50.25% of the company's stock.

Maravai LifeSciences Price Performance

Shares of NASDAQ:MRVI traded down $0.01 on Wednesday, hitting $2.36. The stock had a trading volume of 624,128 shares, compared to its average volume of 1,372,679. Maravai LifeSciences Holdings, Inc. has a twelve month low of $1.66 and a twelve month high of $9.60. The company has a debt-to-equity ratio of 0.68, a quick ratio of 4.49 and a current ratio of 5.16. The firm's 50 day moving average price is $2.49 and its 200-day moving average price is $2.40. The company has a market capitalization of $602.65 million, a price-to-earnings ratio of -1.74 and a beta of 0.29.

Analyst Ratings Changes

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

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.