Maravai LifeSciences (NASDAQ:MRVI) Shares Down 6.3% – Should You Sell?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s share price was down 6.3% on Tuesday . The company traded as low as $2.49 and last traded at $2.48. Approximately 585,612 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 2,213,341 shares. The stock had previously closed at $2.64.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Robert W. Baird cut shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $9.00 to $3.00 in a report on Wednesday, February 26th. Guggenheim began coverage on Maravai LifeSciences in a report on Thursday, December 19th. They set a “neutral” rating for the company. The Goldman Sachs Group downgraded Maravai LifeSciences from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $7.00 to $4.25 in a research note on Thursday, December 5th. Baird R W cut Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, Bank of America lowered their price target on Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $9.28.

Maravai LifeSciences Stock Down 0.6 %

The company has a market capitalization of $662.89 million, a P/E ratio of -1.60 and a beta of -0.08. The stock has a 50 day moving average price of $4.23 and a 200 day moving average price of $5.97. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74.

Insiders Place Their Bets

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $5.03, for a total transaction of $125,750.00. Following the completion of the transaction, the general counsel now directly owns 167,618 shares of the company’s stock, valued at approximately $843,118.54. This represents a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Alyeska Investment Group L.P. lifted its holdings in Maravai LifeSciences by 145.8% during the fourth quarter. Alyeska Investment Group L.P. now owns 5,329,420 shares of the company’s stock valued at $29,045,000 after purchasing an additional 3,161,072 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Maravai LifeSciences by 29.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,664,210 shares of the company’s stock valued at $25,420,000 after purchasing an additional 1,062,485 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Maravai LifeSciences by 4.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,250,656 shares of the company’s stock valued at $23,166,000 after buying an additional 200,411 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Maravai LifeSciences by 1.8% in the 4th quarter. Ameriprise Financial Inc. now owns 3,611,625 shares of the company’s stock worth $19,683,000 after buying an additional 62,123 shares during the period. Finally, Jennison Associates LLC grew its stake in Maravai LifeSciences by 0.3% in the 4th quarter. Jennison Associates LLC now owns 2,990,414 shares of the company’s stock valued at $16,298,000 after buying an additional 9,769 shares in the last quarter. Institutional investors own 50.25% 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.