State Street Corp Sells 16,338 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

State Street Corp lessened its holdings in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,750,773 shares of the company’s stock after selling 16,338 shares during the quarter. State Street Corp owned about 1.09% of Maravai LifeSciences worth $22,859,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in MRVI. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Maravai LifeSciences during the second quarter valued at approximately $32,000. Venturi Wealth Management LLC purchased a new position in Maravai LifeSciences during the third quarter valued at $47,000. Custom Index Systems LLC bought a new stake in Maravai LifeSciences in the 3rd quarter valued at $97,000. Headlands Technologies LLC lifted its stake in Maravai LifeSciences by 205.9% in the 2nd quarter. Headlands Technologies LLC now owns 14,935 shares of the company’s stock worth $107,000 after purchasing an additional 10,053 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Maravai LifeSciences by 181.1% during the 3rd quarter. Blue Trust Inc. now owns 17,409 shares of the company’s stock valued at $145,000 after purchasing an additional 11,215 shares during the last quarter. 50.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MRVI has been the topic of several research reports. Robert W. Baird reduced their target price on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Guggenheim started coverage on Maravai LifeSciences in a report on Thursday. They set a “neutral” rating on the stock. Wells Fargo & Company began coverage on shares of Maravai LifeSciences in a report on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 target price for the company. Royal Bank of Canada decreased their price target on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Finally, The Goldman Sachs Group cut shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $7.00 to $4.25 in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Maravai LifeSciences has a consensus rating of “Hold” and an average target price of $10.28.

Insider Activity at Maravai LifeSciences

In related news, insider Carl Hull acquired 175,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was bought at an average price of $5.64 per share, for a total transaction of $987,000.00. Following the acquisition, the insider now directly owns 175,000 shares of the company’s stock, valued at $987,000. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.63% of the stock is owned by company insiders.

Maravai LifeSciences Stock Down 1.1 %

Shares of NASDAQ MRVI opened at $5.37 on Monday. Maravai LifeSciences Holdings, Inc. has a 1 year low of $4.28 and a 1 year high of $11.56. The firm has a 50-day simple moving average of $6.30 and a two-hundred day simple moving average of $7.62. The company has a market cap of $1.36 billion, a P/E ratio of -3.27 and a beta of -0.08. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94.

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.