Envestnet Asset Management Inc. Boosts Stock Holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Envestnet Asset Management Inc. raised its holdings in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVIGet Rating) by 85.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,855 shares of the company’s stock after buying an additional 22,472 shares during the period. Envestnet Asset Management Inc.’s holdings in Maravai LifeSciences were worth $1,388,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Van ECK Associates Corp purchased a new stake in Maravai LifeSciences during the second quarter valued at about $81,000. Treasurer of the State of North Carolina boosted its holdings in shares of Maravai LifeSciences by 30.7% during the second quarter. Treasurer of the State of North Carolina now owns 52,836 shares of the company’s stock worth $1,501,000 after purchasing an additional 12,407 shares during the period. Xponance Inc. boosted its holdings in shares of Maravai LifeSciences by 5.3% during the second quarter. Xponance Inc. now owns 12,838 shares of the company’s stock worth $365,000 after purchasing an additional 641 shares during the period. US Bancorp DE boosted its holdings in shares of Maravai LifeSciences by 52,034.7% during the second quarter. US Bancorp DE now owns 52,656 shares of the company’s stock worth $1,496,000 after purchasing an additional 52,555 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Maravai LifeSciences by 2,877.7% during the second quarter. SG Americas Securities LLC now owns 85,222 shares of the company’s stock worth $2,421,000 after purchasing an additional 82,360 shares during the period. 51.02% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MRVI has been the subject of a number of analyst reports. Robert W. Baird dropped their target price on shares of Maravai LifeSciences from $34.00 to $25.00 in a report on Thursday, November 3rd. Bank of America lowered shares of Maravai LifeSciences from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $32.00 to $17.00 in a report on Thursday, November 3rd. KeyCorp decreased their price target on shares of Maravai LifeSciences from $35.00 to $28.00 and set an “overweight” rating for the company in a research note on Thursday, November 3rd. Morgan Stanley decreased their price target on shares of Maravai LifeSciences from $35.00 to $32.00 and set an “overweight” rating for the company in a research note on Friday, November 4th. Finally, The Goldman Sachs Group decreased their price target on shares of Maravai LifeSciences from $30.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, November 4th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Maravai LifeSciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.33.

Maravai LifeSciences Price Performance

MRVI stock opened at $14.15 on Tuesday. Maravai LifeSciences Holdings, Inc. has a 1 year low of $13.40 and a 1 year high of $46.29. The firm has a 50-day moving average of $19.26 and a 200 day moving average of $24.65. The company has a market cap of $3.61 billion, a P/E ratio of 7.95 and a beta of -0.23. The company has a debt-to-equity ratio of 0.62, a current ratio of 7.22 and a quick ratio of 6.68.

Maravai LifeSciences Company Profile

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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 in the United States and internationally. 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.

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Institutional Ownership by Quarter for Maravai LifeSciences (NASDAQ:MRVI)

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