Brokerages Set Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Target Price at $10.28

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) have been assigned an average rating of “Hold” from the eleven brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $10.28.

Several research firms have recently issued reports on MRVI. Wells Fargo & Company began coverage on Maravai LifeSciences in a research note on Tuesday, August 27th. They set an “overweight” rating and a $10.00 price target for the company. Royal Bank of Canada cut their target price on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Guggenheim initiated coverage on shares of Maravai LifeSciences in a research report on Thursday. They issued a “neutral” rating on the stock. The Goldman Sachs Group downgraded Maravai LifeSciences from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $7.00 to $4.25 in a research report on Thursday, December 5th. Finally, Robert W. Baird reduced their target price on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th.

Insiders Place Their Bets

In related news, insider Carl Hull acquired 175,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was bought at an average price of $5.64 per share, with a total value of $987,000.00. Following the purchase, the insider now directly owns 175,000 shares in the company, valued at $987,000. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Maravai LifeSciences

Several hedge funds have recently modified their holdings of MRVI. Franklin Resources Inc. purchased a new position in Maravai LifeSciences during the third quarter worth approximately $600,000. Barclays PLC increased its holdings in shares of Maravai LifeSciences by 349.2% during the 3rd quarter. Barclays PLC now owns 184,189 shares of the company’s stock worth $1,531,000 after buying an additional 143,184 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Maravai LifeSciences during the 3rd quarter worth $136,000. Geode Capital Management LLC raised its position in shares of Maravai LifeSciences by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,752,077 shares of the company’s stock worth $22,874,000 after buying an additional 162,601 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in Maravai LifeSciences in the third quarter valued at $105,000. 50.25% of the stock is owned by institutional investors and hedge funds.

Maravai LifeSciences Stock Performance

Shares of MRVI stock opened at $5.43 on Tuesday. The stock has a fifty day moving average price of $6.35 and a 200 day moving average price of $7.65. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. The stock has a market cap of $1.37 billion, a PE ratio of -3.31 and a beta of -0.08. Maravai LifeSciences has a 1 year low of $4.28 and a 1 year high of $11.56.

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.