Maravai LifeSciences (NASDAQ:MRVI) Trading Down 6.3% – What’s Next?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) shares fell 6.3% during mid-day trading on Tuesday . The stock traded as low as $2.49 and last traded at $2.48. 585,612 shares changed hands during trading, a decline of 74% from the average session volume of 2,213,341 shares. The stock had previously closed at $2.64.

Analysts Set New Price Targets

Several brokerages recently issued reports on MRVI. Robert W. Baird downgraded Maravai LifeSciences from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $9.00 to $3.00 in a research note on Wednesday, February 26th. Guggenheim began coverage on Maravai LifeSciences in a research note on Thursday, December 19th. They set a “neutral” rating on the stock. Bank of America decreased their target price on Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. The Goldman Sachs Group cut Maravai LifeSciences from a “neutral” rating to a “sell” rating and cut their price target for the company from $7.00 to $4.25 in a report on Thursday, December 5th. Finally, Baird R W cut Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $9.28.

Maravai LifeSciences Trading Up 0.2 %

The stock has a market capitalization of $614.91 million, a P/E ratio of -1.49 and a beta of -0.08. 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 50-day moving average price of $4.09 and a 200 day moving average price of $5.90.

Insider Transactions at Maravai LifeSciences

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the business’s stock in a transaction on Friday, January 31st. The stock was 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 of the company’s stock, valued at approximately $843,118.54. The trade was a 12.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MRVI. Victory Capital Management Inc. increased its position in Maravai LifeSciences by 312.3% during the 3rd quarter. Victory Capital Management Inc. now owns 58,327 shares of the company’s stock valued at $485,000 after buying an additional 44,180 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Maravai LifeSciences by 14.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 214,645 shares of the company’s stock valued at $1,784,000 after buying an additional 26,885 shares in the last quarter. Intech Investment Management LLC acquired a new position in Maravai LifeSciences during the 3rd quarter valued at about $200,000. Charles Schwab Investment Management Inc. increased its position in Maravai LifeSciences by 6.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 946,576 shares of the company’s stock valued at $7,866,000 after buying an additional 56,071 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Maravai LifeSciences by 36.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 58,987 shares of the company’s stock valued at $490,000 after purchasing an additional 15,615 shares during the last quarter. 50.25% of the stock is owned by institutional investors and hedge funds.

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.