Glenmede Trust Co. NA Sells 31,853 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Glenmede Trust Co. NA lowered its holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 1.4% during the 3rd quarter, Holdings Channel reports. The firm owned 2,226,034 shares of the company’s stock after selling 31,853 shares during the period. Glenmede Trust Co. NA’s holdings in Maravai LifeSciences were worth $18,498,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Maravai LifeSciences by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 10,038,126 shares of the company’s stock worth $87,031,000 after purchasing an additional 34,232 shares during the last quarter. Millennium Management LLC increased its position in Maravai LifeSciences by 12.3% in the second quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock worth $42,735,000 after buying an additional 653,639 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Maravai LifeSciences by 16.8% in the second quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock valued at $41,962,000 after buying an additional 844,325 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Maravai LifeSciences by 15.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,550,503 shares of the company’s stock valued at $32,582,000 after buying an additional 598,530 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Maravai LifeSciences by 20.8% during the 2nd quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock worth $27,791,000 after acquiring an additional 668,552 shares during the period. Institutional investors own 50.25% of the company’s stock.

Insiders Place Their Bets

In related news, insider Carl Hull bought 175,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was acquired at an average cost of $5.64 per share, for a total transaction of $987,000.00. Following the completion of the transaction, the insider now directly owns 175,000 shares in the company, valued at $987,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.63% of the company’s stock.

Maravai LifeSciences Trading Up 5.3 %

Maravai LifeSciences stock opened at $5.92 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. Maravai LifeSciences Holdings, Inc. has a fifty-two week low of $4.28 and a fifty-two week high of $11.56. The stock has a market cap of $1.49 billion, a P/E ratio of -3.61 and a beta of 0.02. The firm’s fifty day moving average price is $7.16 and its 200-day moving average price is $8.19.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. William Blair restated a “market perform” rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. UBS Group boosted their price target on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. The Goldman Sachs Group cut their price objective on shares of Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, October 8th. Morgan Stanley cut shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $11.00 to $10.00 in a report on Tuesday, August 13th. Finally, Royal Bank of Canada cut their price target on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Maravai LifeSciences currently has an average rating of “Moderate Buy” and a consensus price target of $10.33.

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.