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

M&T Bank Corp reduced its position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 21.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund 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 have also recently made changes to their positions in the company. Millennium Management LLC lifted its stake in Maravai LifeSciences by 12.3% in the second quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock valued at $42,735,000 after buying an additional 653,639 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Maravai LifeSciences by 16.8% during the second quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock worth $41,962,000 after acquiring an additional 844,325 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Maravai LifeSciences by 15.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,550,503 shares of the company’s stock valued at $32,582,000 after acquiring an additional 598,530 shares during the period. Renaissance Technologies LLC raised its position in Maravai LifeSciences by 20.8% in the 2nd quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock valued at $27,791,000 after purchasing an additional 668,552 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in Maravai LifeSciences by 149.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,519,561 shares of the company’s stock worth $25,200,000 after purchasing an additional 2,109,199 shares during the period. 50.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Carl Hull acquired 175,000 shares of the company’s 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 purchase, the insider now directly owns 175,000 shares of the company’s stock, valued at approximately $987,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 0.63% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MRVI shares. The Goldman Sachs Group cut shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and reduced their target price for the company from $7.00 to $4.25 in a report on Thursday, December 5th. Wells Fargo & Company began coverage on Maravai LifeSciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 target price on the stock. Guggenheim started coverage on Maravai LifeSciences in a research note on Thursday. They set a “neutral” rating for the company. William Blair reiterated a “market perform” rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. Finally, Wolfe Research assumed coverage on shares of Maravai LifeSciences in a research report on Thursday, November 14th. They set a “peer perform” rating for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Maravai LifeSciences presently has an average rating of “Hold” and an average price target of $10.28.

Maravai LifeSciences Price Performance

Shares of NASDAQ MRVI opened at $5.43 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. Maravai LifeSciences Holdings, Inc. has a one year low of $4.28 and a one year high of $11.56. The firm has a market capitalization of $1.37 billion, a P/E ratio of -3.31 and a beta of -0.08. The company’s fifty day moving average is $6.35 and its two-hundred day moving average is $7.65.

Maravai LifeSciences Company Profile

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.