Maravai LifeSciences (NASDAQ:MRVI) Given New $2.50 Price Target at UBS Group

Maravai LifeSciences (NASDAQ:MRVI) had its price target lowered by equities researchers at UBS Group from $8.00 to $2.50 in a report released on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective would indicate a potential upside of 8.84% from the stock’s current price.

Several other research firms also recently commented on MRVI. Bank of America lowered their target price on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Robert W. Baird lowered Maravai LifeSciences from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $9.00 to $3.00 in a report on Wednesday, February 26th. The Goldman Sachs Group lowered 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 report on Thursday, December 5th. Guggenheim began coverage on Maravai LifeSciences in a research report on Thursday, December 19th. They set a “neutral” rating for the company. Finally, Baird R W lowered shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.22.

Maravai LifeSciences Stock Down 4.3 %

MRVI stock traded down $0.10 during trading hours on Friday, hitting $2.30. The company’s stock had a trading volume of 3,987,641 shares, compared to its average volume of 3,142,530. The stock has a 50 day moving average price of $4.01 and a two-hundred day moving average price of $5.88. Maravai LifeSciences has a 12 month low of $2.07 and a 12 month high of $11.56. The company has a market capitalization of $580.06 million, a PE ratio of -1.41 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.

Insider Buying and Selling

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the stock in a transaction 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 $843,118.54. This represents a 12.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Maravai LifeSciences

Hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its holdings in Maravai LifeSciences by 312.3% in the 3rd quarter. Victory Capital Management Inc. now owns 58,327 shares of the company’s stock valued at $485,000 after acquiring an additional 44,180 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Maravai LifeSciences by 14.3% during the third quarter. Thrivent Financial for Lutherans now owns 214,645 shares of the company’s stock valued at $1,784,000 after purchasing an additional 26,885 shares during the period. Intech Investment Management LLC acquired a new position in shares of Maravai LifeSciences in the third quarter valued at $200,000. Charles Schwab Investment Management Inc. lifted its position in Maravai LifeSciences by 6.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 946,576 shares of the company’s stock worth $7,866,000 after purchasing an additional 56,071 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in Maravai LifeSciences by 36.0% during the third quarter. The Manufacturers Life Insurance Company now owns 58,987 shares of the company’s stock worth $490,000 after buying an additional 15,615 shares in the last quarter. Institutional investors own 50.25% of the company’s stock.

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.