Maravai LifeSciences (NASDAQ:MRVI) Cut to “Neutral” at Robert W. Baird

Robert W. Baird downgraded shares of Maravai LifeSciences (NASDAQ:MRVI) from an outperform rating to a neutral rating in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. Robert W. Baird currently has $3.00 target price on the stock, down from their prior target price of $9.00.

Several other equities research analysts have also issued reports on MRVI. Royal Bank of Canada decreased their target price on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Wolfe Research started coverage on Maravai LifeSciences in a research report on Thursday, November 14th. They set a “peer perform” rating for the company. Guggenheim started coverage on Maravai LifeSciences in a report on Thursday, December 19th. They issued a “neutral” rating for the company. The Goldman Sachs Group lowered Maravai LifeSciences from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $7.00 to $4.25 in a report on Thursday, December 5th. Finally, William Blair reissued a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $9.46.

Maravai LifeSciences Trading Up 5.6 %

Shares of Maravai LifeSciences stock opened at $3.22 on Wednesday. Maravai LifeSciences has a 1 year low of $2.93 and a 1 year high of $11.56. The firm has a market cap of $813.14 million, a PE ratio of -1.96 and a beta of -0.08. The stock has a fifty day moving average price of $4.84 and a 200-day moving average price of $6.48. 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 Maravai LifeSciences stock in a transaction dated 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 of the company’s stock, valued at $843,118.54. The trade was a 12.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Creative Planning grew its holdings in Maravai LifeSciences by 4.4% during the 3rd quarter. Creative Planning now owns 44,943 shares of the company’s stock valued at $373,000 after buying an additional 1,881 shares in the last quarter. SG Americas Securities LLC grew its holdings in Maravai LifeSciences by 7.3% during the 4th quarter. SG Americas Securities LLC now owns 33,046 shares of the company’s stock valued at $180,000 after buying an additional 2,239 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Maravai LifeSciences by 10.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 30,076 shares of the company’s stock worth $164,000 after purchasing an additional 2,851 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its holdings in shares of Maravai LifeSciences by 0.7% during the third quarter. Kornitzer Capital Management Inc. KS now owns 519,890 shares of the company’s stock worth $4,320,000 after purchasing an additional 3,725 shares in the last quarter. Finally, 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 in the last quarter. 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.