Wolfe Research Begins Coverage on Maravai LifeSciences (NASDAQ:MRVI)

Investment analysts at Wolfe Research started coverage on shares of Maravai LifeSciences (NASDAQ:MRVI) in a note issued to investors on Thursday, Marketbeat Ratings reports. The firm set a “peer perform” rating on the stock.

Several other equities analysts have also recently weighed in on the company. UBS Group raised their price objective on Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. William Blair reiterated a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Morgan Stanley cut Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $11.00 to $10.00 in a report on Tuesday, August 13th. Royal Bank of Canada reduced their price target on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, Robert W. Baird reduced their price target on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.33.

Maravai LifeSciences Price Performance

Shares of NASDAQ MRVI opened at $4.42 on Thursday. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -2.70 and a beta of 0.02. The business has a 50-day moving average of $7.76 and a 200-day moving average of $8.41. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.28. Maravai LifeSciences has a fifty-two week low of $4.39 and a fifty-two week high of $11.56.

Insiders Place Their Bets

In other Maravai LifeSciences news, insider Carl Hull purchased 175,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was bought at an average cost of $5.64 per share, for a total transaction of $987,000.00. Following the completion of the transaction, the insider now owns 175,000 shares in the company, valued at approximately $987,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Maravai LifeSciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its position in shares of Maravai LifeSciences by 310.2% in the second quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock valued at $26,000 after buying an additional 2,711 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Maravai LifeSciences in the second quarter valued at approximately $32,000. Headlands Technologies LLC acquired a new stake in shares of Maravai LifeSciences in the first quarter valued at approximately $42,000. Blue Trust Inc. acquired a new position in Maravai LifeSciences during the second quarter valued at approximately $44,000. Finally, Venturi Wealth Management LLC acquired a new position in Maravai LifeSciences during the third quarter valued at approximately $47,000. 50.25% of the stock is currently owned by institutional investors and hedge funds.

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.