Vanguard Group Inc. Cuts Stock Holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Vanguard Group Inc. reduced its stake in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 3.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,217,282 shares of the company's stock after selling 341,685 shares during the quarter. Vanguard Group Inc. owned 4.07% of Maravai LifeSciences worth $102,173,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Captrust Financial Advisors boosted its stake in Maravai LifeSciences by 1.3% in the first quarter. Captrust Financial Advisors now owns 33,535 shares of the company's stock valued at $1,183,000 after buying an additional 442 shares in the last quarter. Zions Bancorporation N.A. acquired a new stake in Maravai LifeSciences in the first quarter valued at about $28,000. Public Employees Retirement System of Ohio raised its position in Maravai LifeSciences by 2.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 56,289 shares of the company's stock valued at $805,000 after purchasing an additional 1,181 shares during the last quarter. Comerica Bank bought a new position in Maravai LifeSciences in the second quarter valued at about $180,000. Finally, China Universal Asset Management Co. Ltd. raised its position in Maravai LifeSciences by 96.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 3,391 shares of the company's stock valued at $34,000 after purchasing an additional 1,662 shares during the last quarter. 50.25% of the stock is owned by institutional investors and hedge funds.

Maravai LifeSciences Trading Down 6.7 %

NASDAQ MRVI traded down $0.57 during trading hours on Friday, hitting $7.95. 2,584,359 shares of the company's stock were exchanged, compared to its average volume of 2,752,780. The stock has a 50-day simple moving average of $7.03 and a 200 day simple moving average of $6.88. Maravai LifeSciences Holdings, Inc. has a 1-year low of $4.52 and a 1-year high of $16.62. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of -8.76 and a beta of 0.01. The company has a current ratio of 8.00, a quick ratio of 7.41 and a debt-to-equity ratio of 0.70.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last released its earnings results on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). Maravai LifeSciences had a negative return on equity of 1.31% and a negative net margin of 41.19%. The business had revenue of $74.14 million for the quarter, compared to analyst estimates of $62.99 million. On average, equities analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MRVI has been the subject of several research reports. Royal Bank of Canada increased their target price on Maravai LifeSciences from $12.00 to $14.00 and gave the company an "outperform" rating in a research report on Friday, February 23rd. Stifel Nicolaus dropped their target price on Maravai LifeSciences from $11.00 to $10.00 and set a "buy" rating for the company in a research report on Friday, February 23rd. Finally, Bank of America upgraded Maravai LifeSciences from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $10.00 to $8.00 in a research report on Tuesday, December 12th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.13.

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.