Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Sees Large Decline in Short Interest

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) was the recipient of a significant decline in short interest in February. As of February 28th, there was short interest totalling 8,820,000 shares, a decline of 14.4% from the February 13th total of 10,300,000 shares. Based on an average trading volume of 2,640,000 shares, the days-to-cover ratio is currently 3.3 days. Currently, 3.5% of the company’s stock are short sold.

Maravai LifeSciences Price Performance

Shares of MRVI traded down $0.15 during mid-day trading on Wednesday, reaching $2.43. 5,278,971 shares of the stock traded hands, compared to its average volume of 2,234,094. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89. Maravai LifeSciences has a 1 year low of $2.26 and a 1 year high of $11.56. The company has a market cap of $613.64 million, a price-to-earnings ratio of -1.48 and a beta of -0.08. The firm has a fifty day moving average price of $4.16 and a 200 day moving average price of $5.93.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $5.03, for a total transaction of $125,750.00. Following the completion of the sale, the general counsel now directly owns 167,618 shares of the company’s stock, valued at $843,118.54. The trade was a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Maravai LifeSciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Alpha Wealth Funds LLC bought a new position in Maravai LifeSciences in the fourth quarter valued at $386,000. Delta Investment Management LLC lifted its holdings in shares of Maravai LifeSciences by 285.4% in the 4th quarter. Delta Investment Management LLC now owns 332,993 shares of the company’s stock worth $1,815,000 after acquiring an additional 246,592 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Maravai LifeSciences by 22.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 251,214 shares of the company’s stock valued at $1,369,000 after purchasing an additional 45,454 shares during the last quarter. Systematic Financial Management LP lifted its stake in Maravai LifeSciences by 2.3% in the fourth quarter. Systematic Financial Management LP now owns 1,649,544 shares of the company’s stock worth $8,990,000 after purchasing an additional 37,383 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC bought a new stake in Maravai LifeSciences in the fourth quarter worth $78,000. 50.25% of the stock is owned by hedge funds and other institutional investors.

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.