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.

MRVI has been the topic of several other reports. Baird R W downgraded shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Guggenheim began coverage on Maravai LifeSciences in a research note on Thursday, December 19th. They issued a “neutral” rating on the stock. Robert W. Baird cut Maravai LifeSciences from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $9.00 to $3.00 in a research note on Wednesday, February 26th. The Goldman Sachs Group lowered Maravai LifeSciences from a “neutral” rating to a “sell” rating and reduced their price target for the company from $7.00 to $4.25 in a research report on Thursday, December 5th. Finally, Bank of America lowered their price objective on Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. One equities 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 company. According to MarketBeat, Maravai LifeSciences currently has an average rating of “Hold” and an average price target of $8.22.

Insider Activity at Maravai LifeSciences

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $5.03, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.63% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Maravai LifeSciences

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

Maravai LifeSciences Price Performance

The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89. The company’s 50 day moving average price is $3.96 and its 200 day moving average price is $5.81. The company has a market cap of $573.24 million, a price-to-earnings ratio of -1.38 and a beta of -0.08.

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.