Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Short Interest Update

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) was the recipient of a large 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 daily volume of 2,640,000 shares, the short-interest ratio is presently 3.3 days. Approximately 3.5% of the company’s shares are sold short.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Guggenheim started coverage on shares of Maravai LifeSciences in a research report on Thursday, December 19th. They set a “neutral” rating on the stock. The Goldman Sachs Group cut shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and lowered their price target for the company from $7.00 to $4.25 in a report on Thursday, December 5th. Robert W. Baird cut 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 research report on Wednesday, February 26th. Bank of America dropped their target price on 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, Baird R W lowered Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $9.28.

Maravai LifeSciences Stock Performance

MRVI opened at $2.40 on Friday. The stock has a 50-day moving average of $4.01 and a 200-day moving average of $5.88. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. Maravai LifeSciences has a 52-week low of $2.25 and a 52-week high of $11.56. The company has a market cap of $606.07 million, a PE ratio of -1.46 and a beta of -0.08.

Insiders Place Their Bets

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the firm’s stock in a transaction dated 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 sale, the general counsel now directly owns 167,618 shares in the company, valued at approximately $843,118.54. This trade represents a 12.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Maravai LifeSciences

Large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its holdings in shares of Maravai LifeSciences by 312.3% during the 3rd quarter. Victory Capital Management Inc. now owns 58,327 shares of the company’s stock worth $485,000 after buying an additional 44,180 shares during the period. Thrivent Financial for Lutherans lifted its position in Maravai LifeSciences by 14.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 214,645 shares of the company’s stock worth $1,784,000 after acquiring an additional 26,885 shares during the last quarter. Intech Investment Management LLC bought a new stake in Maravai LifeSciences during the third quarter valued at about $200,000. Charles Schwab Investment Management Inc. grew its position in shares of Maravai LifeSciences by 6.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 946,576 shares of the company’s stock valued at $7,866,000 after purchasing an additional 56,071 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Maravai LifeSciences by 36.0% in the third quarter. The Manufacturers Life Insurance Company now owns 58,987 shares of the company’s stock worth $490,000 after purchasing an additional 15,615 shares during the period. 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.