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

Glenmede Trust Co. NA reduced its stake in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,226,034 shares of the company’s stock after selling 31,853 shares during the period. Glenmede Trust Co. NA owned 0.88% of Maravai LifeSciences worth $18,498,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MRVI. GAMMA Investing LLC boosted its stake in shares of Maravai LifeSciences by 310.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock valued at $26,000 after purchasing an additional 2,711 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Maravai LifeSciences during the second quarter valued at $32,000. Blue Trust Inc. acquired a new stake in Maravai LifeSciences during the 2nd quarter worth about $44,000. Venturi Wealth Management LLC bought a new position in shares of Maravai LifeSciences in the 3rd quarter worth about $47,000. Finally, Custom Index Systems LLC acquired a new position in shares of Maravai LifeSciences in the 3rd quarter valued at about $97,000. 50.25% of the stock is owned by institutional investors and hedge funds.

Maravai LifeSciences Trading Up 5.3 %

MRVI opened at $5.92 on Friday. Maravai LifeSciences Holdings, Inc. has a fifty-two week low of $4.28 and a fifty-two week high of $11.56. The firm has a market capitalization of $1.49 billion, a PE ratio of -3.61 and a beta of 0.02. 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 company’s 50-day moving average is $7.16 and its 200 day moving average is $8.19.

Insider Transactions at Maravai LifeSciences

In other news, insider Carl Hull acquired 175,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were purchased at an average cost of $5.64 per share, with a total value of $987,000.00. Following the acquisition, the insider now directly owns 175,000 shares of the company’s stock, valued at $987,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MRVI. The Goldman Sachs Group decreased their target price on Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. Wells Fargo & Company initiated coverage on shares of Maravai LifeSciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price objective for the company. Royal Bank of Canada dropped their target price on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. William Blair restated a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Finally, Morgan Stanley lowered shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $11.00 to $10.00 in a report on Tuesday, August 13th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.33.

About Maravai LifeSciences

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.