Maravai LifeSciences (NASDAQ:MRVI) Earns Peer Perform Rating from Analysts at Wolfe Research

Wolfe Research began coverage on shares of Maravai LifeSciences (NASDAQ:MRVI) in a research note issued to investors on Thursday morning, MarketBeat reports. The brokerage issued a peer perform rating on the stock.

MRVI has been the subject of several other research reports. Robert W. Baird lowered their target price on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Morgan Stanley lowered Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $11.00 to $10.00 in a report on Tuesday, August 13th. The Goldman Sachs Group lowered their price target on Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, October 8th. UBS Group lifted 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. Finally, Royal Bank of Canada lowered their target price on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Maravai LifeSciences currently has an average rating of “Moderate Buy” and an average target price of $10.33.

Maravai LifeSciences Stock Performance

Shares of MRVI stock opened at $4.42 on Thursday. The stock has a market cap of $1.11 billion, a PE ratio of -2.70 and a beta of 0.02. The stock has a 50-day moving average of $7.76 and a 200-day moving average of $8.42. 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 one year low of $4.39 and a one year high of $11.56.

Insiders Place Their Bets

In other Maravai LifeSciences news, insider Carl Hull purchased 175,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were purchased at an average cost of $5.64 per share, with a total value of $987,000.00. Following the transaction, the insider now directly owns 175,000 shares of the company’s stock, valued at $987,000. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.63% of the company’s stock.

Institutional Trading of Maravai LifeSciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its position in shares of Maravai LifeSciences by 30.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 506,413 shares of the company’s stock worth $3,626,000 after purchasing an additional 117,120 shares during the last quarter. Dragoneer Investment Group LLC bought a new stake in Maravai LifeSciences during the second quarter worth $5,373,000. Bamco Inc. NY raised its position in Maravai LifeSciences by 43.1% during the first quarter. Bamco Inc. NY now owns 2,123,651 shares of the company’s stock worth $18,412,000 after acquiring an additional 640,000 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Maravai LifeSciences by 6,252.8% in the first quarter. Lazard Asset Management LLC now owns 365,159 shares of the company’s stock valued at $3,165,000 after acquiring an additional 359,411 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Maravai LifeSciences by 62.4% in the 2nd quarter. Principal Financial Group Inc. now owns 666,187 shares of the company’s stock valued at $4,770,000 after acquiring an additional 255,990 shares during the period. Institutional investors and hedge funds 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.