Maravai LifeSciences (NASDAQ:MRVI) Shares Gap Down Following Analyst Downgrade

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price gapped down prior to trading on Friday after UBS Group lowered their price target on the stock from $8.00 to $2.50. The stock had previously closed at $2.40, but opened at $2.12. UBS Group currently has a neutral rating on the stock. Maravai LifeSciences shares last traded at $2.33, with a volume of 1,643,998 shares changing hands.

MRVI has been the topic of several other research reports. Robert W. Baird downgraded shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $9.00 to $3.00 in a research note on Wednesday, February 26th. Baird R W downgraded shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. The Goldman Sachs Group downgraded shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and reduced their target price for the company from $7.00 to $4.25 in a research note on Thursday, December 5th. Guggenheim began coverage on shares of Maravai LifeSciences in a research report on Thursday, December 19th. They set a “neutral” rating on the stock. Finally, Bank of America reduced their price target on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $8.22.

Insiders Place Their Bets

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $5.03, for a total transaction of $125,750.00. Following the completion of the sale, the general counsel now directly owns 167,618 shares of the company’s stock, valued at approximately $843,118.54. The trade was a 12.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.63% of the company’s stock.

Institutional Trading of Maravai LifeSciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in MRVI. Performa Ltd US LLC raised its holdings in 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 purchasing an additional 4,300 shares during the last quarter. FNY Investment Advisers LLC raised its holdings in Maravai LifeSciences by 600.0% during the 4th quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock worth $38,000 after purchasing an additional 6,000 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Maravai LifeSciences by 3,541.4% in the 4th quarter. Farther Finance Advisors LLC now owns 10,196 shares of the company’s stock valued at $56,000 after acquiring an additional 9,916 shares during the last quarter. Cibc World Markets Corp bought a new stake in shares of Maravai LifeSciences in the 4th quarter valued at about $56,000. Finally, Atria Investments Inc bought a new stake in shares of Maravai LifeSciences in the 4th quarter valued at about $58,000. 50.25% of the stock is owned by institutional investors.

Maravai LifeSciences Trading Down 5.6 %

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 market capitalization of $571.98 million, a P/E ratio of -1.37 and a beta of -0.08. The business has a 50 day moving average price of $4.01 and a 200 day moving average price of $5.88.

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.