Maravai LifeSciences (NASDAQ:MRVI) Trading Down 6.5% – What’s Next?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price traded down 6.5% on Tuesday . The company traded as low as $2.67 and last traded at $2.68. 345,806 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 2,218,729 shares. The stock had previously closed at $2.86.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. The Goldman Sachs Group cut shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $7.00 to $4.25 in a research note on Thursday, December 5th. Baird R W downgraded shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Bank of America dropped 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. Wolfe Research initiated coverage on Maravai LifeSciences in a research note on Thursday, November 14th. They set a “peer perform” rating for the company. Finally, Guggenheim began coverage on Maravai LifeSciences in a research note on Thursday, December 19th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Maravai LifeSciences presently has an average rating of “Hold” and a consensus price target of $9.28.

Maravai LifeSciences Stock Performance

The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. The stock has a 50-day simple moving average of $4.36 and a 200 day simple moving average of $6.11. The company has a market capitalization of $611.12 million, a PE ratio of -1.48 and a beta of -0.08.

Insiders Place Their Bets

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $5.03, for a total value of $125,750.00. Following the completion of the sale, the general counsel now directly owns 167,618 shares of the company’s stock, valued at approximately $843,118.54. The trade was a 12.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.63% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Maravai LifeSciences

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its stake in shares of Maravai LifeSciences by 1,172.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company’s stock valued at $33,658,000 after buying an additional 3,731,924 shares during the period. Royce & Associates LP boosted its holdings in Maravai LifeSciences by 130.4% in the 3rd quarter. Royce & Associates LP now owns 908,778 shares of the company’s stock worth $7,552,000 after acquiring an additional 514,332 shares during the period. Barclays PLC boosted its stake in shares of Maravai LifeSciences by 349.2% in the third quarter. Barclays PLC now owns 184,189 shares of the company’s stock valued at $1,531,000 after purchasing an additional 143,184 shares during the period. Systematic Financial Management LP grew its stake in shares of Maravai LifeSciences by 14.7% during the third quarter. Systematic Financial Management LP now owns 1,612,161 shares of the company’s stock valued at $13,397,000 after acquiring an additional 206,499 shares in the last quarter. Finally, Empowered Funds LLC purchased a new stake in Maravai LifeSciences during the 4th quarter worth approximately $155,000. 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.