Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Receives $7.31 Average PT from Brokerages

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) have earned a consensus recommendation of “Hold” from the twelve brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $7.31.

MRVI has been the topic of several research analyst reports. Robert W. Baird cut Maravai LifeSciences from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $9.00 to $3.00 in a research note on Wednesday, February 26th. Bank of America cut their price target on Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. The Goldman Sachs Group downgraded Maravai LifeSciences from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $7.00 to $4.25 in a report on Thursday, December 5th. Baird R W cut shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. Finally, Stifel Nicolaus set a $5.00 price target on shares of Maravai LifeSciences in a report on Friday, March 21st.

Maravai LifeSciences Trading Down 6.4 %

Shares of MRVI opened at $2.21 on Thursday. 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 market capitalization of $562.08 million, a price-to-earnings ratio of -1.35 and a beta of -0.08. The company has a 50-day moving average of $3.68 and a 200 day moving average of $5.52. Maravai LifeSciences has a 1-year low of $2.07 and a 1-year high of $11.56.

Insider Transactions at Maravai LifeSciences

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $5.03, for a total transaction of $125,750.00. Following the transaction, 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 filing with the SEC, which is available at this link. Insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Maravai LifeSciences

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its stake in Maravai LifeSciences by 1,172.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company’s stock worth $33,658,000 after purchasing an additional 3,731,924 shares in the last quarter. Barclays PLC grew its holdings in shares of Maravai LifeSciences by 349.2% during the third quarter. Barclays PLC now owns 184,189 shares of the company’s stock valued at $1,531,000 after buying an additional 143,184 shares during the last quarter. Systematic Financial Management LP increased its position in shares of Maravai LifeSciences by 14.7% in the 3rd 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 during the period. Empowered Funds LLC purchased a new position in Maravai LifeSciences in the 4th quarter worth $155,000. Finally, Bleakley Financial Group LLC lifted its position in Maravai LifeSciences by 30.1% during the 4th quarter. Bleakley Financial Group LLC now owns 41,691 shares of the company’s stock worth $227,000 after acquiring an additional 9,657 shares during the period. Hedge funds and other 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.