Maravai LifeSciences (NASDAQ:MRVI) Trading Down 2.9% Following Analyst Downgrade

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) was down 2.9% during trading on Monday after UBS Group lowered their price target on the stock from $8.00 to $2.50. UBS Group currently has a neutral rating on the stock. Maravai LifeSciences traded as low as $2.20 and last traded at $2.21. Approximately 2,838,498 shares changed hands during mid-day trading, an increase of 25% from the average daily volume of 2,264,408 shares. The stock had previously closed at $2.27.

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

Insider Buying and Selling at Maravai LifeSciences

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $5.03, for a total value of $125,750.00. Following the sale, the general counsel now directly owns 167,618 shares in the company, valued at $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 SEC, which is available through the SEC website. Insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Alyeska Investment Group L.P. increased its stake in shares of Maravai LifeSciences by 145.8% during the fourth quarter. Alyeska Investment Group L.P. now owns 5,329,420 shares of the company’s stock valued at $29,045,000 after purchasing an additional 3,161,072 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Maravai LifeSciences by 29.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,664,210 shares of the company’s stock valued at $25,420,000 after purchasing an additional 1,062,485 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Maravai LifeSciences by 4.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,250,656 shares of the company’s stock valued at $23,166,000 after purchasing an additional 200,411 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Maravai LifeSciences by 1.8% during the fourth quarter. Ameriprise Financial Inc. now owns 3,611,625 shares of the company’s stock worth $19,683,000 after buying an additional 62,123 shares during the period. Finally, Jennison Associates LLC grew its holdings in shares of Maravai LifeSciences by 0.3% in the fourth quarter. Jennison Associates LLC now owns 2,990,414 shares of the company’s stock worth $16,298,000 after purchasing an additional 9,769 shares during the last quarter. 50.25% of the stock is currently owned by institutional investors.

Maravai LifeSciences Trading Down 2.9 %

The company’s 50-day simple moving average is $3.96 and its 200 day simple moving average is $5.80. The firm has a market capitalization of $556.82 million, a PE ratio of -1.34 and a beta of -0.08. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89.

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.