Maravai LifeSciences (NASDAQ:MRVI) Coverage Initiated by Analysts at Wolfe Research

Wolfe Research initiated coverage on shares of Maravai LifeSciences (NASDAQ:MRVI) in a research note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage issued a peer perform rating on the stock.

A number of other research analysts have also commented on the company. William Blair reaffirmed a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. UBS Group lifted their price objective on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. The Goldman Sachs Group lowered their target price on shares of Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, October 8th. Morgan Stanley downgraded Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $11.00 to $10.00 in a research report on Tuesday, August 13th. Finally, Robert W. Baird cut their target price on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $10.33.

Maravai LifeSciences Stock Performance

MRVI stock traded down $0.80 during midday trading on Thursday, reaching $4.40. 3,431,965 shares of the company were exchanged, compared to its average volume of 2,270,214. Maravai LifeSciences has a one year low of $4.39 and a one year high of $11.56. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of -2.88 and a beta of 0.02. The business has a 50-day moving average price of $7.85 and a two-hundred day moving average price of $8.44. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.28.

Insider Activity at Maravai LifeSciences

In other news, insider Carl Hull bought 175,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was acquired at an average price of $5.64 per share, with a total value of $987,000.00. Following the transaction, the insider now owns 175,000 shares of the company’s stock, valued at $987,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On Maravai LifeSciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of Maravai LifeSciences by 310.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock valued at $26,000 after purchasing an additional 2,711 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Maravai LifeSciences in the 2nd quarter valued at $32,000. Headlands Technologies LLC acquired a new position in shares of Maravai LifeSciences during the 1st quarter valued at $42,000. Blue Trust Inc. bought a new position in Maravai LifeSciences during the second quarter worth $44,000. Finally, Venturi Wealth Management LLC bought a new stake in Maravai LifeSciences in the third quarter valued at $47,000. Institutional investors and hedge funds 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.