Morgan Stanley Has Lowered Expectations for Maravai LifeSciences (NASDAQ:MRVI) Stock Price

Maravai LifeSciences (NASDAQ:MRVI) had its target price dropped by analysts at Morgan Stanley from $7.00 to $5.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 112.31% from the stock’s previous close.

Several other research analysts also recently commented on the company. Robert W. Baird downgraded Maravai LifeSciences from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $9.00 to $3.00 in a research note on Wednesday, February 26th. Baird R W lowered shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. The Goldman Sachs Group downgraded shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and cut their price target for the company from $7.00 to $4.25 in a report on Thursday, December 5th. Bank of America decreased their price target on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Finally, Guggenheim began coverage on Maravai LifeSciences in a research note on Thursday, December 19th. They set a “neutral” rating for the company. One investment 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $7.59.

Maravai LifeSciences Stock Performance

Shares of NASDAQ:MRVI traded up $0.12 during trading on Tuesday, hitting $2.36. 599,127 shares of the company were exchanged, compared to its average volume of 2,271,744. Maravai LifeSciences has a 52-week low of $2.07 and a 52-week high of $11.56. The stock has a 50 day moving average of $3.91 and a 200 day moving average of $5.75. 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 company has a market cap of $594.70 million, a PE ratio of -1.44 and a beta of -0.08.

Insider Activity at Maravai LifeSciences

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the business’s 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 in the company, valued at approximately $843,118.54. The trade was a 12.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.63% of the stock is currently owned by insiders.

Institutional Trading of Maravai LifeSciences

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

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.