Charles Schwab Investment Management Inc. Decreases Stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Charles Schwab Investment Management Inc. cut its stake in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 4.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 906,489 shares of the company’s stock after selling 40,087 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.36% of Maravai LifeSciences worth $4,940,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. FNY Investment Advisers LLC lifted its position in Maravai LifeSciences by 600.0% during the 4th quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock worth $38,000 after acquiring an additional 6,000 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of Maravai LifeSciences in the third quarter worth about $105,000. Neo Ivy Capital Management acquired a new stake in shares of Maravai LifeSciences during the third quarter worth about $136,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in Maravai LifeSciences in the fourth quarter valued at approximately $136,000. Finally, Empowered Funds LLC acquired a new position in Maravai LifeSciences in the 4th quarter worth approximately $155,000. 50.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Bank of America decreased their price objective on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. UBS Group decreased their target price on shares of Maravai LifeSciences from $8.00 to $2.50 and set a “neutral” rating for the company in a research report on Friday, March 21st. Guggenheim initiated coverage on Maravai LifeSciences in a research report on Thursday, December 19th. They set a “neutral” rating on the stock. The Goldman Sachs Group cut Maravai LifeSciences from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $7.00 to $4.25 in a report on Thursday, December 5th. Finally, Morgan Stanley reduced their price target on Maravai LifeSciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.59.

Insider Buying and Selling

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $5.03, for a total transaction of $125,750.00. Following the transaction, the general counsel now directly owns 167,618 shares of the company’s stock, valued at $843,118.54. This trade represents a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.63% of the stock is owned by insiders.

Maravai LifeSciences Stock Up 2.7 %

Maravai LifeSciences stock opened at $2.30 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. The stock has a market capitalization of $580.81 million, a PE ratio of -1.40 and a beta of -0.08. The business has a 50 day simple moving average of $3.86 and a 200-day simple moving average of $5.70. Maravai LifeSciences Holdings, Inc. has a 12 month low of $2.07 and a 12 month high of $11.56.

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.