Maravai LifeSciences (NASDAQ:MRVI) Shares Down 2.9% on Analyst Downgrade

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price dropped 2.9% during mid-day trading on Monday after UBS Group lowered their price target on the stock from $8.00 to $2.50. UBS Group currently has a neutral rating on the stock. Maravai LifeSciences traded as low as $2.20 and last traded at $2.21. Approximately 2,838,498 shares were traded during trading, an increase of 25% from the average daily volume of 2,264,408 shares. The stock had previously closed at $2.27.

A number of other equities research analysts have also recently commented on MRVI. Baird R W cut shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Guggenheim started coverage on shares of Maravai LifeSciences in a research note on Thursday, December 19th. They issued a “neutral” rating on the stock. Robert W. Baird cut shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $9.00 to $3.00 in a report on Wednesday, February 26th. Bank of America dropped their price target on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Finally, The Goldman Sachs Group cut Maravai LifeSciences from a “neutral” rating to a “sell” rating and lowered their target price for the company from $7.00 to $4.25 in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Maravai LifeSciences currently has an average rating of “Hold” and a consensus price target of $8.22.

Insider Buying and Selling at Maravai LifeSciences

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $5.03, for a total value of $125,750.00. Following the completion of the transaction, the general counsel now owns 167,618 shares in the company, valued at $843,118.54. This trade represents a 12.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Maravai LifeSciences

Several institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its position in shares of Maravai LifeSciences by 1,172.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company’s stock worth $33,658,000 after buying an additional 3,731,924 shares during the period. Barclays PLC raised its holdings in shares of Maravai LifeSciences by 349.2% in the third quarter. Barclays PLC now owns 184,189 shares of the company’s stock valued at $1,531,000 after purchasing an additional 143,184 shares during the last quarter. Systematic Financial Management LP boosted its stake in shares of Maravai LifeSciences by 14.7% in the 3rd quarter. Systematic Financial Management LP now owns 1,612,161 shares of the company’s stock worth $13,397,000 after buying an additional 206,499 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Maravai LifeSciences during the 4th quarter valued at $155,000. Finally, Bleakley Financial Group LLC raised its position in Maravai LifeSciences by 30.1% in the fourth quarter. Bleakley Financial Group LLC now owns 41,691 shares of the company’s stock worth $227,000 after acquiring an additional 9,657 shares during the period. Institutional investors and hedge funds own 50.25% of the company’s stock.

Maravai LifeSciences Trading Down 2.9 %

The firm has a market cap of $556.82 million, a PE ratio of -1.34 and a beta of -0.08. 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 firm has a 50 day moving average of $3.96 and a 200 day moving average of $5.80.

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.