Maravai LifeSciences (NASDAQ:MRVI) Trading Down 6.3% – What’s Next?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) traded down 6.3% during trading on Tuesday . The stock traded as low as $2.49 and last traded at $2.48. 585,612 shares were traded during trading, a decline of 74% from the average session volume of 2,213,341 shares. The stock had previously closed at $2.64.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Bank of America cut their price objective on Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Guggenheim initiated coverage on Maravai LifeSciences in a report on Thursday, December 19th. They set a “neutral” rating for the company. Robert W. Baird downgraded Maravai LifeSciences from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $9.00 to $3.00 in a report on Wednesday, February 26th. The Goldman Sachs Group downgraded Maravai LifeSciences from a “neutral” rating to a “sell” rating and decreased their target price for the company 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 equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Maravai LifeSciences currently has a consensus rating of “Hold” and a consensus price target of $9.28.

Maravai LifeSciences Price Performance

The company has a market capitalization of $614.91 million, a PE ratio of -1.49 and a beta of -0.08. 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 firm has a 50-day moving average of $4.09 and a 200 day moving average of $5.90.

Insiders Place Their Bets

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the firm’s stock in a transaction dated 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 directly owns 167,618 shares of the company’s stock, valued at approximately $843,118.54. This trade represents a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MRVI. Performa Ltd US LLC raised its stake in shares of 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 buying an additional 4,300 shares during the period. FNY Investment Advisers LLC raised its stake in shares of Maravai LifeSciences by 600.0% in the fourth quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock worth $38,000 after buying an additional 6,000 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Maravai LifeSciences by 3,541.4% in the fourth quarter. Farther Finance Advisors LLC now owns 10,196 shares of the company’s stock worth $56,000 after buying an additional 9,916 shares during the period. Cibc World Markets Corp bought a new position in shares of Maravai LifeSciences in the fourth quarter worth about $56,000. Finally, Atria Investments Inc bought a new position in shares of Maravai LifeSciences in the fourth quarter worth about $58,000. Institutional investors 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.