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

Charles Schwab Investment Management Inc. lifted its holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 6.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 946,576 shares of the company’s stock after purchasing an additional 56,071 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Maravai LifeSciences were worth $7,866,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in Maravai LifeSciences by 5.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 73,595 shares of the company’s stock worth $639,000 after purchasing an additional 3,575 shares in the last quarter. GAMMA Investing LLC grew its stake in Maravai LifeSciences by 310.2% in the second quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock worth $26,000 after purchasing an additional 2,711 shares in the last quarter. Blue Trust Inc. bought a new position in Maravai LifeSciences in the second quarter worth approximately $44,000. Bank of New York Mellon Corp grew its stake in Maravai LifeSciences by 30.1% in the second quarter. Bank of New York Mellon Corp now owns 506,413 shares of the company’s stock worth $3,626,000 after purchasing an additional 117,120 shares in the last quarter. Finally, Liontrust Investment Partners LLP grew its stake in Maravai LifeSciences by 14.7% in the second quarter. Liontrust Investment Partners LLP now owns 43,845 shares of the company’s stock worth $314,000 after purchasing an additional 5,628 shares in the last quarter. 50.25% of the stock is currently owned by hedge funds and other institutional investors.

Maravai LifeSciences Stock Up 9.2 %

Maravai LifeSciences stock opened at $5.93 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 $1.50 billion, a price-to-earnings ratio of -3.51 and a beta of -0.08. Maravai LifeSciences Holdings, Inc. has a 1-year low of $4.28 and a 1-year high of $11.56. The business has a fifty day moving average price of $6.69 and a 200-day moving average price of $7.86.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MRVI shares. Wolfe Research started coverage on Maravai LifeSciences in a research note on Thursday, November 14th. They issued a “peer perform” rating on the stock. Wells Fargo & Company assumed coverage on Maravai LifeSciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price objective on the stock. Robert W. Baird dropped their target price on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Morgan Stanley cut Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $11.00 to $10.00 in a research report on Tuesday, August 13th. Finally, The Goldman Sachs Group cut Maravai LifeSciences from a “neutral” rating to a “sell” rating and dropped their target price for the company from $7.00 to $4.25 in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $10.03.

Insider Transactions at Maravai LifeSciences

In other Maravai LifeSciences news, insider Carl Hull acquired 175,000 shares of the stock in a transaction dated Monday, November 11th. The stock was purchased at an average price of $5.64 per share, with a total value of $987,000.00. Following the transaction, the insider now directly owns 175,000 shares of the company’s stock, valued at $987,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.63% of the company’s stock.

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.