Maravai LifeSciences (NASDAQ:MRVI) Hits New 12-Month Low Following Analyst Downgrade

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price hit a new 52-week low on Tuesday after Bank of America lowered their price target on the stock from $9.00 to $8.00. Bank of America currently has a buy rating on the stock. Maravai LifeSciences traded as low as $2.92 and last traded at $2.92, with a volume of 40472 shares trading hands. The stock had previously closed at $3.02.

Several other equities research analysts have also recently weighed in on MRVI. William Blair restated a “market perform” rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. Wolfe Research started coverage on shares of Maravai LifeSciences in a research report on Thursday, November 14th. They issued a “peer perform” rating for the company. Baird R W downgraded Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. Robert W. Baird cut 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 research note on Wednesday, February 26th. Finally, The Goldman Sachs Group downgraded Maravai LifeSciences from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $7.00 to $4.25 in a research report on Thursday, December 5th. One equities 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 company’s stock. According to MarketBeat, Maravai LifeSciences currently has an average rating of “Hold” and an average target price of $9.28.

Insider Activity at Maravai LifeSciences

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the company’s stock in a transaction that occurred 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 in the company, 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 at this link. Insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Maravai LifeSciences

A number of institutional investors have recently added to or reduced their stakes in the company. Delta Investment Management LLC grew its position in shares of Maravai LifeSciences by 285.4% in the 4th quarter. Delta Investment Management LLC now owns 332,993 shares of the company’s stock valued at $1,815,000 after acquiring an additional 246,592 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Maravai LifeSciences by 22.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 251,214 shares of the company’s stock worth $1,369,000 after purchasing an additional 45,454 shares during the period. Systematic Financial Management LP increased its position in Maravai LifeSciences by 2.3% during the fourth quarter. Systematic Financial Management LP now owns 1,649,544 shares of the company’s stock worth $8,990,000 after buying an additional 37,383 shares during the last quarter. Sherbrooke Park Advisers LLC acquired a new position in Maravai LifeSciences during the fourth quarter worth approximately $78,000. Finally, ProShare Advisors LLC raised its stake in Maravai LifeSciences by 89.8% in the fourth quarter. ProShare Advisors LLC now owns 55,488 shares of the company’s stock valued at $302,000 after buying an additional 26,251 shares during the period. 50.25% of the stock is currently owned by institutional investors and hedge funds.

Maravai LifeSciences Stock Performance

The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. The company has a market capitalization of $737.38 million, a price-to-earnings ratio of -1.78 and a beta of -0.08. The stock has a 50-day moving average price of $4.80 and a 200-day moving average price of $6.42.

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.