Maravai LifeSciences (NASDAQ:MRVI) Price Target Lowered to $2.50 at UBS Group

Maravai LifeSciences (NASDAQ:MRVI) had its price objective cut by research analysts at UBS Group from $8.00 to $2.50 in a research note issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price target points to a potential upside of 10.13% from the stock’s previous close.

A number of other equities research analysts have also recently commented on MRVI. The Goldman Sachs Group cut shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $7.00 to $4.25 in a research note on Thursday, December 5th. Robert W. Baird cut shares of 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. Bank of America dropped their price objective on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Baird R W cut shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, Guggenheim initiated 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 assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $8.22.

Maravai LifeSciences Price Performance

Shares of NASDAQ MRVI opened at $2.27 on Friday. The stock has a market capitalization of $573.24 million, a price-to-earnings ratio of -1.38 and a beta of -0.08. Maravai LifeSciences has a 12 month low of $2.07 and a 12 month high of $11.56. The firm’s 50 day simple moving average is $3.96 and its 200-day simple moving average is $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.

Insider Buying and Selling at Maravai LifeSciences

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the firm’s stock in a transaction 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 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 document filed with the SEC, which is accessible through the SEC website. 0.63% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in Maravai LifeSciences by 1,172.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company’s stock valued at $33,658,000 after purchasing an additional 3,731,924 shares in the last quarter. Barclays PLC raised 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 acquiring an additional 143,184 shares during the period. Systematic Financial Management LP raised its holdings in shares of 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 position in shares of Maravai LifeSciences during the 4th quarter worth $155,000. Finally, Bleakley Financial Group LLC raised its holdings in shares of Maravai LifeSciences by 30.1% during the 4th quarter. Bleakley Financial Group LLC now owns 41,691 shares of the company’s stock worth $227,000 after acquiring an additional 9,657 shares during the period. Hedge funds and other institutional investors own 50.25% of the company’s stock.

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.