Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Short Interest Down 14.4% in February

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) saw a significant drop in short interest in February. As of February 28th, there was short interest totalling 8,820,000 shares, a drop of 14.4% from the February 13th total of 10,300,000 shares. Approximately 3.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,640,000 shares, the short-interest ratio is presently 3.3 days.

Insiders Place Their Bets

In related 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 sale, the general counsel now owns 167,618 shares of the company’s stock, valued at $843,118.54. This trade represents a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.63% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Maravai LifeSciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its stake in shares of Maravai LifeSciences by 1,172.4% in the third quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company’s stock valued at $33,658,000 after buying an additional 3,731,924 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in shares of Maravai LifeSciences by 145.8% during the fourth quarter. Alyeska Investment Group L.P. now owns 5,329,420 shares of the company’s stock valued at $29,045,000 after acquiring an additional 3,161,072 shares in the last quarter. Marshall Wace LLP increased its position in shares of Maravai LifeSciences by 17,912.9% during the fourth quarter. Marshall Wace LLP now owns 2,778,497 shares of the company’s stock worth $15,143,000 after acquiring an additional 2,763,072 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Maravai LifeSciences during the third quarter worth about $22,108,000. Finally, Massachusetts Financial Services Co. MA lifted 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 acquiring an additional 1,062,485 shares in the last quarter. Institutional investors and hedge funds own 50.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Guggenheim initiated coverage on shares of Maravai LifeSciences in a report on Thursday, December 19th. They set a “neutral” rating for the company. Bank of America cut their price target on Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday, March 3rd. The Goldman Sachs Group cut Maravai LifeSciences from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $7.00 to $4.25 in a report on Thursday, December 5th. Robert W. Baird downgraded 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 research report on Wednesday, February 26th. Finally, Baird R W downgraded Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Maravai LifeSciences has a consensus rating of “Hold” and a consensus target price of $9.28.

Maravai LifeSciences Trading Down 2.3 %

MRVI stock traded down $0.06 during midday trading on Thursday, reaching $2.38. 871,811 shares of the company’s stock traded hands, compared to its average volume of 3,089,368. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. Maravai LifeSciences has a fifty-two week low of $2.25 and a fifty-two week high of $11.56. The business has a 50-day moving average price of $4.09 and a two-hundred day moving average price of $5.90. The company has a market capitalization of $599.75 million, a P/E ratio of -1.45 and a beta of -0.08.

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.