Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Short Interest Down 14.4% in February

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) was the target of a significant decline in short interest in February. As of February 28th, there was short interest totalling 8,820,000 shares, a decline of 14.4% from the February 13th total of 10,300,000 shares. Approximately 3.5% of the shares of the stock are sold short. Based on an average daily volume of 2,640,000 shares, the short-interest ratio is currently 3.3 days.

Insider Buying and Selling at Maravai LifeSciences

In other news, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences 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 transaction, the general counsel now owns 167,618 shares in the company, valued at approximately $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 accessible through this hyperlink. Company insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Maravai LifeSciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC boosted its position in shares of Maravai LifeSciences by 7.3% during 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 in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in Maravai LifeSciences by 10.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 30,076 shares of the company’s stock worth $164,000 after acquiring an additional 2,851 shares in the last quarter. Performa Ltd US LLC grew its holdings in Maravai LifeSciences by 614.3% in the fourth quarter. Performa Ltd US LLC now owns 5,000 shares of the company’s stock worth $27,000 after purchasing an additional 4,300 shares during the period. FNY Investment Advisers LLC increased its stake in Maravai LifeSciences by 600.0% in the fourth quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock valued at $38,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its holdings in shares of Maravai LifeSciences by 4.8% during the third quarter. Orion Portfolio Solutions LLC now owns 135,749 shares of the company’s stock valued at $1,128,000 after purchasing an additional 6,177 shares during the period. Institutional investors and hedge funds own 50.25% of the company’s stock.

Maravai LifeSciences Trading Down 5.8 %

Shares of NASDAQ MRVI traded down $0.15 during midday trading on Wednesday, reaching $2.43. The stock had a trading volume of 5,278,971 shares, compared to its average volume of 2,234,094. The company’s 50 day moving average price is $4.16 and its 200 day moving average price is $5.93. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. Maravai LifeSciences has a twelve month low of $2.26 and a twelve month high of $11.56. The firm has a market cap of $613.64 million, a price-to-earnings ratio of -1.48 and a beta of -0.08.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MRVI. Bank of America decreased their target price on Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Guggenheim began coverage on shares of Maravai LifeSciences in a research report on Thursday, December 19th. They set a “neutral” rating for the company. Robert W. Baird lowered shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and cut their target price for the company from $9.00 to $3.00 in a research report on Wednesday, February 26th. The Goldman Sachs Group downgraded shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $7.00 to $4.25 in a report on Thursday, December 5th. Finally, Baird R W downgraded Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $9.28.

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.