Maravai LifeSciences (NASDAQ:MRVI) Rating Lowered to “Hold” at Baird R W

Baird R W downgraded shares of Maravai LifeSciences (NASDAQ:MRVI) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. Robert W. Baird downgraded Maravai LifeSciences from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $9.00 to $3.00 in a research report on Wednesday. William Blair reaffirmed a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Wolfe Research started coverage on Maravai LifeSciences in a report on Thursday, November 14th. They set a “peer perform” rating for the company. The Goldman Sachs Group cut Maravai LifeSciences from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $7.00 to $4.25 in a research report on Thursday, December 5th. Finally, Royal Bank of Canada dropped their target price on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $9.46.

Maravai LifeSciences Price Performance

Shares of Maravai LifeSciences stock opened at $3.22 on Wednesday. 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 firm has a fifty day simple moving average of $4.84 and a 200-day simple moving average of $6.48. The stock has a market capitalization of $813.14 million, a price-to-earnings ratio of -1.96 and a beta of -0.08. Maravai LifeSciences has a 1-year low of $2.93 and a 1-year high of $11.56.

Insider Activity

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the firm’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 transaction of $125,750.00. Following the completion of the transaction, the general counsel now owns 167,618 shares in the company, valued at $843,118.54. This trade represents a 12.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its holdings in Maravai LifeSciences by 1,172.4% during 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 during the last quarter. Alyeska Investment Group L.P. grew its position in Maravai LifeSciences by 145.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 5,329,420 shares of the company’s stock worth $29,045,000 after acquiring an additional 3,161,072 shares during the last quarter. Marshall Wace LLP grew its position in Maravai LifeSciences by 17,912.9% during the 4th quarter. Marshall Wace LLP now owns 2,778,497 shares of the company’s stock worth $15,143,000 after acquiring an additional 2,763,072 shares during the last quarter. Point72 DIFC Ltd bought a new position in Maravai LifeSciences in the 3rd quarter valued at $22,108,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in Maravai LifeSciences by 29.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,664,210 shares of the company’s stock worth $25,420,000 after purchasing an additional 1,062,485 shares in the last quarter. 50.25% of the stock is owned by institutional investors.

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.