Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Sees Significant Decrease in Short Interest

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) saw a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 8,820,000 shares, a decline of 14.4% from the February 13th total of 10,300,000 shares. Currently, 3.5% of the shares of the company are sold short. Based on an average trading volume of 2,640,000 shares, the days-to-cover ratio is presently 3.3 days.

Maravai LifeSciences Stock Down 1.2 %

NASDAQ MRVI opened at $2.40 on Friday. The company has a market capitalization of $606.07 million, a P/E ratio of -1.46 and a beta of -0.08. Maravai LifeSciences has a 12 month low of $2.25 and a 12 month high of $11.56. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. The company’s 50 day simple moving average is $4.01 and its 200 day simple moving average is $5.88.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MRVI. The Goldman Sachs Group lowered Maravai LifeSciences from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $7.00 to $4.25 in a research report on Thursday, December 5th. Guggenheim initiated coverage on shares of Maravai LifeSciences in a report on Thursday, December 19th. They issued a “neutral” rating for the company. Baird R W lowered shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Bank of America dropped their price target on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Finally, Robert W. Baird cut shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $9.00 to $3.00 in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.28.

Insider Transactions at Maravai LifeSciences

In other news, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences 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 sale, the general counsel now owns 167,618 shares of the company’s stock, valued at approximately $843,118.54. The trade was a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MRVI. Performa Ltd US LLC boosted its stake in shares of Maravai LifeSciences by 614.3% during the 4th quarter. Performa Ltd US LLC now owns 5,000 shares of the company’s stock worth $27,000 after acquiring an additional 4,300 shares in the last quarter. FNY Investment Advisers LLC boosted its position in shares of Maravai LifeSciences by 600.0% in the 4th quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock valued at $38,000 after purchasing an additional 6,000 shares during the period. Farther Finance Advisors LLC increased its stake 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 worth $56,000 after purchasing an additional 9,916 shares in the last quarter. Cibc World Markets Corp purchased a new position in Maravai LifeSciences in the 4th quarter worth about $56,000. Finally, Atria Investments Inc acquired a new stake in Maravai LifeSciences during the 4th quarter worth about $58,000. Institutional investors own 50.25% of the company’s stock.

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.