Morgan Stanley Cuts Maravai LifeSciences (NASDAQ:MRVI) Price Target to $5.00

Maravai LifeSciences (NASDAQ:MRVI) had its price objective dropped by stock analysts at Morgan Stanley from $7.00 to $5.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 112.31% from the company’s current price.

A number of other equities analysts also recently issued reports on MRVI. The Goldman Sachs Group downgraded Maravai LifeSciences from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $7.00 to $4.25 in a report on Thursday, December 5th. 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. Robert W. Baird cut Maravai LifeSciences from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $9.00 to $3.00 in a research report on Wednesday, February 26th. Bank of America dropped their target price on Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Finally, UBS Group reduced their price target on Maravai LifeSciences from $8.00 to $2.50 and set a “neutral” rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Maravai LifeSciences currently has an average rating of “Hold” and a consensus price target of $7.59.

Maravai LifeSciences Trading Up 5.1 %

Shares of MRVI traded up $0.12 during trading hours on Tuesday, reaching $2.36. 599,127 shares of the company traded hands, compared to its average volume of 2,271,744. Maravai LifeSciences has a 12 month low of $2.07 and a 12 month high of $11.56. The company has a market capitalization of $594.70 million, a price-to-earnings ratio of -1.44 and a beta of -0.08. The company’s fifty day moving average price is $3.91 and its two-hundred day moving average price is $5.75. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89.

Insider Buying and Selling

In other news, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $5.03, for a total value of $125,750.00. Following the completion of the sale, the general counsel now directly owns 167,618 shares in the company, valued at $843,118.54. The trade was a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.63% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Maravai LifeSciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Performa Ltd US LLC increased its position in Maravai LifeSciences by 614.3% during the fourth quarter. Performa Ltd US LLC now owns 5,000 shares of the company’s stock valued at $27,000 after acquiring an additional 4,300 shares during the last quarter. FNY Investment Advisers LLC raised its holdings in Maravai LifeSciences by 600.0% in 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 period. Farther Finance Advisors LLC lifted its position in Maravai LifeSciences by 3,541.4% during the fourth quarter. Farther Finance Advisors LLC now owns 10,196 shares of the company’s stock valued at $56,000 after purchasing an additional 9,916 shares in the last quarter. Cibc World Markets Corp bought a new stake in Maravai LifeSciences during the fourth quarter valued at about $56,000. Finally, Atria Investments Inc bought a new position in shares of Maravai LifeSciences during the 4th quarter valued at approximately $58,000. Hedge funds and other institutional investors 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.