Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Given Average Rating of “Hold” by Analysts

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) have been given an average recommendation of “Hold” by the eleven research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $10.28.

Several brokerages have commented on MRVI. Robert W. Baird lowered their price target on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Wolfe Research began coverage on Maravai LifeSciences in a report on Thursday, November 14th. They set a “peer perform” rating on the stock. William Blair reiterated a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. The Goldman Sachs Group downgraded Maravai LifeSciences from a “neutral” rating to a “sell” rating and lowered their price target for the company from $7.00 to $4.25 in a report on Thursday, December 5th. Finally, Royal Bank of Canada lowered their price target on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, November 8th.

Maravai LifeSciences Trading Down 20.9 %

NASDAQ:MRVI opened at $4.85 on Friday. Maravai LifeSciences has a 52 week low of $4.28 and a 52 week high of $11.56. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. The stock’s 50 day moving average price is $5.65 and its 200 day moving average price is $7.40. The company has a market capitalization of $1.22 billion, a P/E ratio of -2.96 and a beta of -0.07.

Insider Buying and Selling

In other news, insider Carl Hull bought 175,000 shares of Maravai LifeSciences stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average cost of $5.64 per share, with a total value of $987,000.00. Following the completion of the transaction, the insider now directly owns 175,000 shares in the company, valued at $987,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.63% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC lifted its holdings in shares of Maravai LifeSciences by 12.3% during the second quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock valued at $42,735,000 after acquiring an additional 653,639 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Maravai LifeSciences by 16.8% during the second quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock valued at $41,962,000 after acquiring an additional 844,325 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Maravai LifeSciences by 15.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,550,503 shares of the company’s stock valued at $32,582,000 after acquiring an additional 598,530 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Maravai LifeSciences by 1,172.4% during the third quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company’s stock valued at $33,658,000 after acquiring an additional 3,731,924 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Maravai LifeSciences by 20.8% during the second quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock valued at $27,791,000 after acquiring an additional 668,552 shares during the period. 50.25% of the stock is owned by 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.