UBS Group Has Lowered Expectations for Maravai LifeSciences (NASDAQ:MRVI) Stock Price

Maravai LifeSciences (NASDAQ:MRVI) had its target price lowered by stock analysts at UBS Group from $8.00 to $2.50 in a report released on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s target price points to a potential upside of 10.13% from the stock’s current price.

Several other brokerages have also recently issued reports on MRVI. Bank of America dropped their target price on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Guggenheim started coverage on shares of Maravai LifeSciences in a report on Thursday, December 19th. They set a “neutral” rating on the stock. The Goldman Sachs Group lowered shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and decreased their price target for the company from $7.00 to $4.25 in a research report on Thursday, December 5th. Robert W. Baird lowered shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $9.00 to $3.00 in a research report on Wednesday, February 26th. Finally, 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.22.

Maravai LifeSciences Stock Down 5.4 %

Shares of Maravai LifeSciences stock opened at $2.27 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. Maravai LifeSciences has a 1 year low of $2.07 and a 1 year high of $11.56. The firm’s 50-day moving average is $3.96 and its two-hundred day moving average is $5.81. The stock has a market cap of $573.24 million, a price-to-earnings ratio of -1.38 and a beta of -0.08.

Insider Activity at Maravai LifeSciences

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the stock in a transaction that occurred 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 transaction, the general counsel now directly owns 167,618 shares of the company’s stock, valued at $843,118.54. This trade represents a 12.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Maravai LifeSciences

Several hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC raised its position in shares of Maravai LifeSciences by 7.3% in the 4th quarter. SG Americas Securities LLC now owns 33,046 shares of the company’s stock valued at $180,000 after purchasing an additional 2,239 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Maravai LifeSciences by 10.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 30,076 shares of the company’s stock worth $164,000 after buying an additional 2,851 shares during the period. Performa Ltd US LLC increased its holdings in Maravai LifeSciences by 614.3% in the 4th quarter. Performa Ltd US LLC now owns 5,000 shares of the company’s stock worth $27,000 after buying an additional 4,300 shares during the period. FNY Investment Advisers LLC increased its holdings in Maravai LifeSciences by 600.0% in the 4th quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock worth $38,000 after buying an additional 6,000 shares during the period. Finally, Orion Portfolio Solutions LLC increased its holdings in Maravai LifeSciences by 4.8% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 135,749 shares of the company’s stock worth $1,128,000 after buying an additional 6,177 shares during the period. 50.25% of the stock is owned by hedge funds and other institutional investors.

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.