Maravai LifeSciences (NASDAQ:MRVI) Hits New 1-Year Low – Should You Sell?

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $1.95 and last traded at $2.00, with a volume of 127136 shares. The stock had previously closed at $2.10.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. The Goldman Sachs Group cut Maravai LifeSciences from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $7.00 to $4.25 in a research report on Thursday, December 5th. Baird R W downgraded Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. Robert W. Baird lowered shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $9.00 to $3.00 in a report on Wednesday, February 26th. Morgan Stanley decreased their price objective on shares of Maravai LifeSciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 25th. Finally, Guggenheim assumed coverage on Maravai LifeSciences in a report on Thursday, December 19th. They set a “neutral” rating on the stock. 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.31.

Maravai LifeSciences Trading Down 6.4 %

The firm has a market cap of $499.77 million, a price-to-earnings ratio of -1.19 and a beta of 0.18. The company’s 50-day moving average price is $3.48 and its 200-day moving average price is $5.43. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89.

Insiders Place Their Bets

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $843,118.54. The trade was a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.63% of the stock is owned by company insiders.

Institutional Investors Weigh In On Maravai LifeSciences

A number of large investors have recently modified their holdings of MRVI. JPMorgan Chase & Co. boosted 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 worth $33,658,000 after acquiring an additional 3,731,924 shares during the last quarter. Alyeska Investment Group L.P. grew its position in shares of Maravai LifeSciences by 145.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 5,329,420 shares of the company’s stock valued at $29,045,000 after purchasing an additional 3,161,072 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Maravai LifeSciences by 17,912.9% in the fourth quarter. Marshall Wace LLP now owns 2,778,497 shares of the company’s stock valued at $15,143,000 after purchasing an additional 2,763,072 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Maravai LifeSciences by 29.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,664,210 shares of the company’s stock worth $25,420,000 after buying an additional 1,062,485 shares in the last quarter. Finally, CenterBook Partners LP acquired a new position in Maravai LifeSciences during the fourth quarter worth $4,425,000. 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.