Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Sees Large Growth in Short Interest

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) was the target of a significant increase in short interest in 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. Approximately 4.6% of the company’s shares are short sold. Based on an average daily trading volume, of 3,070,000 shares, the short-interest ratio is currently 3.8 days.

Maravai LifeSciences Stock Down 6.4 %

NASDAQ MRVI traded down $0.15 during trading hours on Monday, hitting $2.21. 3,083,774 shares of the company were exchanged, compared to its average volume of 2,328,979. Maravai LifeSciences has a 52-week low of $2.07 and a 52-week high of $11.56. The company has a 50 day moving average of $3.73 and a two-hundred day moving average of $5.56. The firm has a market cap of $562.08 million, a price-to-earnings ratio of -1.35 and a beta of -0.08. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MRVI. Baird R W cut shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. Guggenheim started coverage on Maravai LifeSciences in a research report on Thursday, December 19th. They set a “neutral” rating on the stock. Robert W. Baird cut Maravai LifeSciences from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $9.00 to $3.00 in a report on Wednesday, February 26th. UBS Group cut their price target 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 lowered their price target on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday, March 3rd. One equities research 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. According to MarketBeat.com, Maravai LifeSciences presently has an average rating of “Hold” and a consensus target price of $7.31.

Insider Buying and Selling at Maravai LifeSciences

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the company’s stock in a transaction 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 transaction, the general counsel now directly owns 167,618 shares in the company, valued at approximately $843,118.54. This represents a 12.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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 stock. SG Americas Securities LLC grew its position in Maravai LifeSciences by 7.3% during the fourth quarter. SG Americas Securities LLC now owns 33,046 shares of the company’s stock worth $180,000 after buying an additional 2,239 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Maravai LifeSciences by 10.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 30,076 shares of the company’s stock valued at $164,000 after acquiring an additional 2,851 shares during the last quarter. Performa Ltd US LLC increased its holdings in shares of Maravai LifeSciences by 614.3% during the 4th quarter. Performa Ltd US LLC now owns 5,000 shares of the company’s stock worth $27,000 after buying an additional 4,300 shares during the last quarter. FNY Investment Advisers LLC lifted its position in Maravai LifeSciences by 600.0% during the fourth quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock valued at $38,000 after buying an additional 6,000 shares in the last quarter. Finally, Orion Portfolio Solutions LLC lifted its position in Maravai LifeSciences by 4.8% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 135,749 shares of the company’s stock worth $1,128,000 after acquiring an additional 6,177 shares in the last quarter. Hedge funds and other institutional investors own 50.25% of the company’s stock.

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.