Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Short Interest Update

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 11,600,000 shares, an increase of 31.5% from the February 28th total of 8,820,000 shares. Currently, 4.6% of the company’s shares are sold short. Based on an average trading volume of 3,070,000 shares, the days-to-cover ratio is presently 3.8 days.

Wall Street Analysts Forecast Growth

MRVI has been the subject of several recent analyst reports. Morgan Stanley lowered their price target on Maravai LifeSciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Tuesday, March 25th. Robert W. Baird downgraded shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $9.00 to $3.00 in a report 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. UBS Group dropped their price objective on Maravai LifeSciences from $8.00 to $2.50 and set a “neutral” rating for the company in a report on Friday, March 21st. Finally, Bank of America reduced their target price on Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.31.

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 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 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 SEC, which is available through this link. 0.63% of the stock is owned by company insiders.

Institutional Investors Weigh In On Maravai LifeSciences

A number of institutional investors have recently made changes to their positions in MRVI. Performa Ltd US LLC increased its stake in Maravai LifeSciences by 614.3% during the fourth quarter. Performa Ltd US LLC now owns 5,000 shares of the company’s stock valued at $27,000 after purchasing an additional 4,300 shares during the last quarter. FNY Investment Advisers LLC lifted its holdings in 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 acquiring an additional 6,000 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Maravai LifeSciences by 3,541.4% in the fourth quarter. Farther Finance Advisors LLC now owns 10,196 shares of the company’s stock valued at $56,000 after acquiring an additional 9,916 shares during the period. Cibc World Markets Corp bought a new position in shares of Maravai LifeSciences during the fourth quarter valued at approximately $56,000. Finally, Atria Investments Inc bought a new stake in shares of Maravai LifeSciences in the 4th quarter worth approximately $58,000. 50.25% of the stock is currently owned by institutional investors.

Maravai LifeSciences Stock Up 2.3 %

Shares of MRVI stock traded up $0.05 during mid-day trading on Wednesday, reaching $2.21. 5,182,621 shares of the company were exchanged, compared to its average volume of 2,344,343. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. The business’s 50 day simple moving average is $3.61 and its 200 day simple moving average is $5.48. The company has a market capitalization of $562.08 million, a P/E ratio of -1.35 and a beta of -0.08. Maravai LifeSciences has a fifty-two week low of $2.07 and a fifty-two week high of $11.56.

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.