Maravai LifeSciences (NASDAQ:MRVI) Lowered to Neutral Rating by Robert W. Baird

Maravai LifeSciences (NASDAQ:MRVI) was downgraded by analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. They presently have a $3.00 price target on the stock, down from their prior price target of $9.00. Robert W. Baird’s price target would suggest a potential downside of 4.46% from the company’s current price.

Other analysts also recently issued reports about the company. Guggenheim began coverage on Maravai LifeSciences in a research report on Thursday, December 19th. They set a “neutral” rating for the company. Royal Bank of Canada cut their price objective on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. William Blair reissued a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. The Goldman Sachs Group downgraded shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and cut their price target for the stock from $7.00 to $4.25 in a report on Thursday, December 5th. Finally, Wolfe Research initiated coverage on shares of Maravai LifeSciences in a research note on Thursday, November 14th. They issued a “peer perform” rating on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Maravai LifeSciences currently has an average rating of “Hold” and an average target price of $9.46.

Maravai LifeSciences Stock Down 21.7 %

NASDAQ MRVI opened at $3.14 on Wednesday. The company has a market cap of $792.94 million, a price-to-earnings ratio of -1.91 and a beta of -0.08. Maravai LifeSciences has a 1-year low of $2.93 and a 1-year high of $11.56. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89. The company has a 50 day moving average of $4.98 and a 200-day moving average of $6.57.

Insider Activity at Maravai LifeSciences

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the 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 completion of the transaction, the general counsel now directly owns 167,618 shares in the company, valued at approximately $843,118.54. This trade represents a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.63% of the stock is currently owned by company insiders.

Institutional Trading of Maravai LifeSciences

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Alyeska Investment Group L.P. boosted its position in Maravai LifeSciences by 145.8% during the 4th 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 grew its stake in shares of Maravai LifeSciences by 29.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,664,210 shares of the company’s stock worth $25,420,000 after purchasing an additional 1,062,485 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Maravai LifeSciences by 4.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,250,656 shares of the company’s stock valued at $23,166,000 after purchasing an additional 200,411 shares during the period. Ameriprise Financial Inc. raised its position in Maravai LifeSciences by 1.8% during the 4th quarter. Ameriprise Financial Inc. now owns 3,611,625 shares of the company’s stock worth $19,683,000 after purchasing an additional 62,123 shares during the last quarter. Finally, Jennison Associates LLC increased its position 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 worth $16,298,000 after buying an additional 9,769 shares during the period. 50.25% of the stock is currently owned by institutional investors.

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.