Maravai LifeSciences (NASDAQ:MRVI) Shares Gap Down After Analyst Downgrade

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s share price gapped down prior to trading 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 changing hands.

MRVI has been the subject of a number of other reports. Robert W. Baird downgraded shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $9.00 to $3.00 in a report on Wednesday, February 26th. The Goldman Sachs Group cut shares of 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. Bank of America reduced 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. Baird R W cut shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, Guggenheim began coverage on shares of Maravai LifeSciences in a research report on Thursday, December 19th. They set a “neutral” rating on the stock. One research 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, Maravai LifeSciences has an average rating of “Hold” and a consensus target price of $8.22.

Insider Transactions at Maravai LifeSciences

In related news, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences stock in a transaction on 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 owns 167,618 shares in the company, valued at approximately $843,118.54. The trade was 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 link. Corporate insiders own 0.63% of the company’s stock.

Institutional Trading of Maravai LifeSciences

A number of hedge funds and other institutional investors have recently made changes to their positions in MRVI. Victory Capital Management Inc. increased its stake in shares of Maravai LifeSciences by 312.3% in the third quarter. Victory Capital Management Inc. now owns 58,327 shares of the company’s stock worth $485,000 after buying an additional 44,180 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Maravai LifeSciences by 14.3% in the third quarter. Thrivent Financial for Lutherans now owns 214,645 shares of the company’s stock worth $1,784,000 after buying an additional 26,885 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Maravai LifeSciences in the third quarter worth $200,000. Charles Schwab Investment Management Inc. increased its stake in shares of Maravai LifeSciences by 6.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 946,576 shares of the company’s stock worth $7,866,000 after buying an additional 56,071 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Maravai LifeSciences by 36.0% in the third quarter. The Manufacturers Life Insurance Company now owns 58,987 shares of the company’s stock worth $490,000 after buying an additional 15,615 shares during the last quarter. Institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Trading Down 5.4 %

The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89. The business’s 50 day moving average is $3.96 and its 200-day moving average is $5.83. The firm has a market cap of $573.24 million, a P/E ratio of -1.38 and a beta of -0.08.

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.