Maravai LifeSciences (NASDAQ:MRVI) Trading Down 2.9% After Analyst Downgrade

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s share price dropped 2.9% during mid-day trading on Monday after Morgan Stanley lowered their price target on the stock from $7.00 to $5.00. Morgan Stanley currently has an equal weight rating on the stock. Maravai LifeSciences traded as low as $2.20 and last traded at $2.21. Approximately 2,838,498 shares traded hands during mid-day trading, an increase of 25% from the average daily volume of 2,264,408 shares. The stock had previously closed at $2.27.

Several other research analysts have also recently issued reports on MRVI. Robert W. Baird cut 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 research note on Wednesday, February 26th. The Goldman Sachs Group downgraded Maravai LifeSciences from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $7.00 to $4.25 in a research report on Thursday, December 5th. Baird R W downgraded Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. UBS Group lowered their price objective on shares of Maravai LifeSciences from $8.00 to $2.50 and set a “neutral” rating for the company in a research note on Friday, March 21st. Finally, Guggenheim assumed coverage on shares of Maravai LifeSciences in a research report on Thursday, December 19th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Maravai LifeSciences currently has an average rating of “Hold” and a consensus target price of $7.59.

Insider Buying and Selling at Maravai LifeSciences

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the 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 approximately $843,118.54. This represents a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.63% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Performa Ltd US LLC boosted its stake in Maravai LifeSciences by 614.3% in the fourth quarter. Performa Ltd US LLC now owns 5,000 shares of the company’s stock valued at $27,000 after acquiring an additional 4,300 shares in the last quarter. FNY Investment Advisers LLC boosted its position in shares of Maravai LifeSciences by 600.0% in the 4th quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock worth $38,000 after purchasing an additional 6,000 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Maravai LifeSciences by 3,541.4% during the 4th quarter. Farther Finance Advisors LLC now owns 10,196 shares of the company’s stock worth $56,000 after buying an additional 9,916 shares during the last quarter. Cibc World Markets Corp acquired a new position in Maravai LifeSciences during the 4th quarter valued at about $56,000. Finally, Atria Investments Inc purchased a new stake in Maravai LifeSciences in the fourth quarter valued at about $58,000. Hedge funds and other institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Stock Performance

The firm has a market cap of $580.81 million, a price-to-earnings ratio of -1.40 and a beta of -0.08. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. The firm has a fifty day simple moving average of $3.86 and a two-hundred day simple moving average of $5.70.

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.