M&T Bank Corp Lowers Position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

M&T Bank Corp reduced its stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 21.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,757 shares of the company’s stock after selling 6,011 shares during the period. M&T Bank Corp’s holdings in Maravai LifeSciences were worth $181,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MRVI. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Maravai LifeSciences in the 2nd quarter valued at approximately $32,000. Blue Trust Inc. purchased a new stake in Maravai LifeSciences in the second quarter valued at approximately $44,000. Venturi Wealth Management LLC acquired a new position in Maravai LifeSciences during the third quarter worth $47,000. Custom Index Systems LLC acquired a new position in Maravai LifeSciences during the third quarter worth $97,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Maravai LifeSciences during the third quarter worth $105,000. Institutional investors and hedge funds own 50.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wells Fargo & Company began coverage on Maravai LifeSciences in a research note on Tuesday, August 27th. They set an “overweight” rating and a $10.00 target price on the stock. William Blair reaffirmed a “market perform” rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. Guggenheim initiated coverage on shares of Maravai LifeSciences in a research report on Thursday. They issued a “neutral” rating for the company. Robert W. Baird dropped their price target on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Finally, Wolfe Research started coverage on Maravai LifeSciences in a research note on Thursday, November 14th. They issued a “peer perform” rating on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $10.28.

Maravai LifeSciences Stock Performance

NASDAQ:MRVI opened at $5.43 on Friday. The firm has a market capitalization of $1.37 billion, a PE ratio of -3.31 and a beta of -0.08. 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 business’s fifty day moving average price is $6.35 and its 200 day moving average price is $7.65. Maravai LifeSciences Holdings, Inc. has a 12 month low of $4.28 and a 12 month high of $11.56.

Insider Activity

In other Maravai LifeSciences news, insider Carl Hull purchased 175,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average cost of $5.64 per share, with a total value of $987,000.00. Following the completion of the acquisition, the insider now directly owns 175,000 shares of the company’s stock, valued at $987,000. This trade represents a ∞ increase in their position. 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.

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.