Maravai LifeSciences (NASDAQ:MRVI) Shares Gap Down After Analyst Downgrade

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) shares gapped down before the market opened on Friday after UBS Group lowered their price target on the stock from $8.00 to $2.50. The stock had previously closed at $2.40, but opened at $2.12. UBS Group currently has a neutral rating on the stock. Maravai LifeSciences shares last traded at $2.33, with a volume of 1,643,998 shares.

A number of other research firms also recently commented on MRVI. Bank of America cut their target price 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. Robert W. Baird downgraded shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $9.00 to $3.00 in a research note on Wednesday, February 26th. Guggenheim assumed 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 cut their price target for the company from $7.00 to $4.25 in a report on Thursday, December 5th. Finally, Baird R W cut Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $8.22.

Insider Activity at Maravai LifeSciences

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the business’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 sale, the general counsel now owns 167,618 shares in the company, valued at approximately $843,118.54. The trade was a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.63% of the stock is currently owned by corporate insiders.

Institutional Trading of Maravai LifeSciences

A number of institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in shares of Maravai LifeSciences by 1,172.4% in the third 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 last quarter. Barclays PLC raised its stake in Maravai LifeSciences by 349.2% in the 3rd quarter. Barclays PLC now owns 184,189 shares of the company’s stock worth $1,531,000 after acquiring an additional 143,184 shares during the last quarter. Systematic Financial Management LP lifted its position in Maravai LifeSciences by 14.7% during the 3rd quarter. Systematic Financial Management LP now owns 1,612,161 shares of the company’s stock worth $13,397,000 after acquiring an additional 206,499 shares during the period. Empowered Funds LLC purchased a new stake in Maravai LifeSciences during the 4th quarter valued at about $155,000. Finally, Bleakley Financial Group LLC grew its stake in Maravai LifeSciences by 30.1% during the 4th quarter. Bleakley Financial Group LLC now owns 41,691 shares of the company’s stock valued at $227,000 after purchasing an additional 9,657 shares during the last quarter. 50.25% of the stock is currently owned by institutional investors and hedge funds.

Maravai LifeSciences Stock Down 5.4 %

The firm has a market capitalization of $573.24 million, a price-to-earnings ratio of -1.38 and a beta of -0.08. The business has a fifty day moving average price of $3.96 and a two-hundred day moving average price of $5.81. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94.

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.