Maravai LifeSciences (NASDAQ:MRVI) Earns Neutral Rating from Analysts at Guggenheim

Guggenheim began coverage on shares of Maravai LifeSciences (NASDAQ:MRVI) in a report released on Thursday, Marketbeat Ratings reports. The firm set a “neutral” rating on the stock.

A number of other research firms have also recently weighed in on MRVI. The Goldman Sachs Group cut Maravai LifeSciences from a “neutral” rating to a “sell” rating and cut their price target for the company from $7.00 to $4.25 in a research note on Thursday, December 5th. William Blair reiterated a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Wolfe Research initiated coverage on Maravai LifeSciences in a research report on Thursday, November 14th. They set a “peer perform” rating on the stock. Wells Fargo & Company began coverage on Maravai LifeSciences in a report on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price target for the company. Finally, Robert W. Baird dropped their price target on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Maravai LifeSciences has an average rating of “Hold” and a consensus price target of $10.28.

Maravai LifeSciences Trading Down 3.8 %

NASDAQ MRVI opened at $5.58 on Thursday. Maravai LifeSciences has a 52 week low of $4.28 and a 52 week high of $11.56. The firm has a 50 day moving average of $6.39 and a two-hundred day moving average of $7.67. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $1.41 billion, a PE ratio of -3.40 and a beta of -0.08.

Insider Activity at Maravai LifeSciences

In related news, insider Carl Hull purchased 175,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was acquired at an average price of $5.64 per share, for a total transaction of $987,000.00. Following 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its position in Maravai LifeSciences by 12.3% during the second quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock worth $42,735,000 after purchasing an additional 653,639 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Maravai LifeSciences by 16.8% during the 2nd quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock worth $41,962,000 after buying an additional 844,325 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Maravai LifeSciences by 15.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,550,503 shares of the company’s stock worth $32,582,000 after buying an additional 598,530 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Maravai LifeSciences by 20.8% in the 2nd quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock worth $27,791,000 after buying an additional 668,552 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its stake in Maravai LifeSciences by 149.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,519,561 shares of the company’s stock valued at $25,200,000 after acquiring an additional 2,109,199 shares during the last quarter. 50.25% of the stock is currently owned by institutional investors and hedge funds.

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.