Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System raised its position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVIGet Rating) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,492 shares of the company’s stock after acquiring an additional 1,550 shares during the quarter. California Public Employees Retirement System’s holdings in Maravai LifeSciences were worth $6,321,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Zions Bancorporation N.A. acquired a new position in Maravai LifeSciences in the 1st quarter valued at about $28,000. SeaCrest Wealth Management LLC acquired a new position in Maravai LifeSciences in the 2nd quarter valued at about $32,000. Steward Partners Investment Advisory LLC grew its position in Maravai LifeSciences by 6,670.0% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,354 shares of the company’s stock valued at $38,000 after acquiring an additional 1,334 shares in the last quarter. Van ECK Associates Corp acquired a new position in Maravai LifeSciences in the 2nd quarter valued at about $81,000. Finally, Point72 Hong Kong Ltd acquired a new position in Maravai LifeSciences in the 1st quarter valued at about $163,000. 51.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MRVI shares. KeyCorp decreased their price objective on Maravai LifeSciences from $35.00 to $28.00 and set an “overweight” rating for the company in a research note on Thursday, November 3rd. Credit Suisse Group decreased their price objective on Maravai LifeSciences from $34.00 to $26.00 and set an “outperform” rating for the company in a research note on Thursday, November 3rd. Bank of America cut Maravai LifeSciences from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $32.00 to $17.00 in a research note on Thursday, November 3rd. The Goldman Sachs Group decreased their price objective on Maravai LifeSciences from $30.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, November 4th. Finally, Morgan Stanley decreased their price objective on Maravai LifeSciences from $35.00 to $32.00 and set an “overweight” rating for the company in a research note on Friday, November 4th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.33.

Maravai LifeSciences Price Performance

MRVI stock opened at $14.25 on Friday. The business has a 50 day moving average price of $18.73 and a 200 day moving average price of $24.35. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of 7.96 and a beta of -0.23. Maravai LifeSciences Holdings, Inc. has a fifty-two week low of $13.40 and a fifty-two week high of $46.29. The company has a quick ratio of 6.68, a current ratio of 7.22 and a debt-to-equity ratio of 0.62.

About Maravai LifeSciences

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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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