Prudential Financial Inc. Cuts Stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Prudential Financial Inc. lessened its holdings in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 8.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 591,505 shares of the company’s stock after selling 52,600 shares during the quarter. Prudential Financial Inc. owned about 0.23% of Maravai LifeSciences worth $3,224,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Intech Investment Management LLC bought a new stake in shares of Maravai LifeSciences during the third quarter valued at approximately $200,000. Charles Schwab Investment Management Inc. increased its holdings in Maravai LifeSciences by 6.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 946,576 shares of the company’s stock valued at $7,866,000 after acquiring an additional 56,071 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Maravai LifeSciences by 36.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 58,987 shares of the company’s stock worth $490,000 after purchasing an additional 15,615 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Maravai LifeSciences by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 64,736 shares of the company’s stock valued at $538,000 after purchasing an additional 36,476 shares during the last quarter. Finally, Erste Asset Management GmbH purchased a new position in shares of Maravai LifeSciences during the third quarter valued at about $239,000. 50.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MRVI has been the subject of a number of research reports. Robert W. Baird lowered Maravai LifeSciences from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $9.00 to $3.00 in a research note on Wednesday, February 26th. Baird R W cut shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Stifel Nicolaus set a $5.00 price objective on shares of Maravai LifeSciences in a research report on Friday, March 21st. Guggenheim began coverage on shares of Maravai LifeSciences in a report on Thursday, December 19th. They issued a “neutral” rating on the stock. Finally, The Goldman Sachs Group downgraded shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and lowered their price target for the company from $7.00 to $4.25 in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $7.31.

Insider Buying and Selling at Maravai LifeSciences

In other news, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences stock in a transaction on Friday, January 31st. The stock was sold at an average price of $5.03, for a total transaction of $125,750.00. Following the completion of the sale, the general counsel now directly owns 167,618 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. 0.63% of the stock is currently owned by corporate insiders.

Maravai LifeSciences Trading Up 2.3 %

MRVI opened at $2.21 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. The stock’s 50 day moving average price is $3.55 and its 200-day moving average price is $5.45. Maravai LifeSciences Holdings, Inc. has a one year low of $2.07 and a one year high of $11.56. The stock has a market cap of $562.08 million, a price-to-earnings ratio of -1.35 and a beta of -0.08.

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.