Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Holdings Decreased by Federated Hermes Inc.

Federated Hermes Inc. reduced its stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Free Report) by 7.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 225,624 shares of the company’s stock after selling 18,262 shares during the period. Federated Hermes Inc. owned 0.09% of Maravai LifeSciences worth $3,161,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp increased its stake in shares of Maravai LifeSciences by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 416,617 shares of the company’s stock valued at $14,694,000 after acquiring an additional 6,339 shares during the period. Bank of Montreal Can grew its stake in Maravai LifeSciences by 13.6% in the first quarter. Bank of Montreal Can now owns 16,563 shares of the company’s stock valued at $591,000 after purchasing an additional 1,986 shares in the last quarter. MetLife Investment Management LLC bought a new position in Maravai LifeSciences during the first quarter valued at approximately $250,000. Dimensional Fund Advisors LP increased its holdings in shares of Maravai LifeSciences by 534.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 117,159 shares of the company’s stock valued at $4,133,000 after acquiring an additional 98,698 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in Maravai LifeSciences by 7.5% in the 1st quarter. Sei Investments Co. now owns 159,229 shares of the company’s stock worth $5,554,000 after acquiring an additional 11,079 shares during the period. Institutional investors own 50.62% of the company’s stock.

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Maravai LifeSciences Price Performance

Shares of MRVI stock opened at $10.38 on Wednesday. The firm’s 50 day moving average price is $12.34 and its two-hundred day moving average price is $13.46. The stock has a market cap of $2.61 billion, a PE ratio of 18.21 and a beta of -0.26. Maravai LifeSciences Holdings, Inc. has a 52-week low of $9.20 and a 52-week high of $26.81. The company has a debt-to-equity ratio of 0.62, a quick ratio of 8.70 and a current ratio of 9.33.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MRVI shares. Stifel Nicolaus decreased their price objective on Maravai LifeSciences from $17.00 to $12.00 in a report on Tuesday, August 8th. Robert W. Baird dropped their target price on shares of Maravai LifeSciences from $18.00 to $11.00 and set an “outperform” rating for the company in a research report on Tuesday, August 8th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Maravai LifeSciences from $23.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, August 8th. Bank of America dropped their price objective on shares of Maravai LifeSciences from $15.00 to $12.00 in a report on Tuesday, August 8th. Finally, KeyCorp lowered Maravai LifeSciences from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, August 8th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $14.10.

Check Out Our Latest Research Report on Maravai LifeSciences

Maravai LifeSciences Company Profile

(Free Report)

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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