UBS Group Has Lowered Expectations for Maravai LifeSciences (NASDAQ:MRVI) Stock Price

Maravai LifeSciences (NASDAQ:MRVI) had its target price cut by equities researchers at UBS Group from $8.00 to $2.50 in a report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s target price points to a potential upside of 8.84% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. 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 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. Guggenheim started coverage on shares of Maravai LifeSciences in a report on Thursday, December 19th. They issued a “neutral” rating on the stock. Bank of America cut their target price on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Finally, Robert W. Baird lowered shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $9.00 to $3.00 in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $8.22.

Maravai LifeSciences Price Performance

Shares of NASDAQ MRVI traded down $0.10 during midday trading on Friday, reaching $2.30. 3,987,641 shares of the company traded hands, compared to its average volume of 3,142,530. The stock’s 50-day simple moving average is $4.01 and its 200-day simple moving average is $5.88. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. Maravai LifeSciences has a 12 month low of $2.07 and a 12 month high of $11.56. The firm has a market cap of $580.06 million, a PE ratio of -1.41 and a beta of -0.08.

Insider Activity

In related 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 value of $125,750.00. Following the completion of the transaction, the general counsel now owns 167,618 shares of the company’s stock, valued at $843,118.54. The trade was a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Maravai LifeSciences

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