Morgan Stanley Has Lowered Expectations for Maravai LifeSciences (NASDAQ:MRVI) Stock Price

Maravai LifeSciences (NASDAQ:MRVI) had its price target reduced by Morgan Stanley from $7.00 to $5.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 110.97% from the company’s previous close.

Several other analysts have also weighed in on the company. Baird R W lowered Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. Robert W. Baird downgraded shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $9.00 to $3.00 in a research note on Wednesday, February 26th. UBS Group lowered their price target on shares of Maravai LifeSciences from $8.00 to $2.50 and set a “neutral” rating on the stock in a report on Friday, March 21st. Bank of America reduced their price objective on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Finally, Guggenheim began coverage on shares of Maravai LifeSciences in a research note on Thursday, December 19th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7.31.

Maravai LifeSciences Stock Up 3.0 %

MRVI stock opened at $2.37 on Tuesday. Maravai LifeSciences has a twelve month low of $2.07 and a twelve month high of $11.56. 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 company has a market cap of $598.49 million, a PE ratio of -1.45 and a beta of -0.08. The business’s 50-day simple moving average is $3.82 and its 200 day simple moving average is $5.68.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Maravai LifeSciences

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

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.