Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Short Interest Update

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 11,600,000 shares, a growth of 31.5% from the February 28th total of 8,820,000 shares. Currently, 4.6% of the shares of the company are sold short. Based on an average daily volume of 3,070,000 shares, the short-interest ratio is currently 3.8 days.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MRVI shares. The Goldman Sachs Group cut shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and cut their price objective for the company from $7.00 to $4.25 in a research note on Thursday, December 5th. Baird R W lowered Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Guggenheim began coverage on Maravai LifeSciences in a research note on Thursday, December 19th. They issued a “neutral” rating on the stock. UBS Group decreased their target price on Maravai LifeSciences from $8.00 to $2.50 and set a “neutral” rating for the company in a research note on Friday, March 21st. Finally, Bank of America dropped 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 analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.31.

Maravai LifeSciences Trading Up 2.3 %

Shares of NASDAQ:MRVI traded up $0.05 during mid-day trading on Wednesday, hitting $2.21. The stock had a trading volume of 5,182,621 shares, compared to its average volume of 2,344,343. The company’s 50 day moving average is $3.61 and its 200-day moving average is $5.48. Maravai LifeSciences has a 12-month low of $2.07 and a 12-month high of $11.56. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. The company has a market cap of $562.08 million, a PE ratio of -1.35 and a beta of -0.08.

Insider Buying and Selling at Maravai LifeSciences

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the stock in a transaction that occurred 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 $843,118.54. This represents a 12.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.63% of the stock is currently owned by company insiders.

Institutional Trading of Maravai LifeSciences

A number of hedge funds have recently modified their holdings of MRVI. JPMorgan Chase & Co. raised its position in Maravai LifeSciences by 1,172.4% during the third quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company’s stock valued at $33,658,000 after buying an additional 3,731,924 shares during the period. Barclays PLC boosted its holdings in shares of Maravai LifeSciences by 349.2% during the third quarter. Barclays PLC now owns 184,189 shares of the company’s stock worth $1,531,000 after purchasing an additional 143,184 shares during the period. Systematic Financial Management LP grew its position in Maravai LifeSciences by 14.7% during the third quarter. Systematic Financial Management LP now owns 1,612,161 shares of the company’s stock valued at $13,397,000 after purchasing an additional 206,499 shares in the last quarter. Empowered Funds LLC purchased a new position in Maravai LifeSciences during the fourth quarter valued at approximately $155,000. Finally, Bleakley Financial Group LLC grew its holdings in shares of Maravai LifeSciences by 30.1% during the 4th quarter. Bleakley Financial Group LLC now owns 41,691 shares of the company’s stock valued at $227,000 after acquiring an additional 9,657 shares in the last quarter. Hedge funds and other institutional investors own 50.25% of the company’s stock.

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.