Maravai LifeSciences (NASDAQ:MRVI) Lowered to “Sell” Rating by The Goldman Sachs Group

The Goldman Sachs Group lowered shares of Maravai LifeSciences (NASDAQ:MRVI) from a neutral rating to a sell rating in a research report report published on Thursday morning, Marketbeat reports. The firm currently has $4.25 price objective on the stock, down from their prior price objective of $7.00.

MRVI has been the subject of several other research reports. UBS Group upped their price target on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. William Blair restated a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Wolfe Research started coverage on Maravai LifeSciences in a report on Thursday, November 14th. They issued a “peer perform” rating on the stock. Robert W. Baird decreased their price objective on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Finally, Wells Fargo & Company began coverage on Maravai LifeSciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 target price on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Maravai LifeSciences has an average rating of “Hold” and a consensus target price of $10.03.

Maravai LifeSciences Stock Performance

MRVI stock opened at $5.05 on Thursday. Maravai LifeSciences has a 1-year low of $4.28 and a 1-year high of $11.56. The business has a 50-day moving average price of $6.74 and a 200 day moving average price of $7.94. The company has a market capitalization of $1.28 billion, a P/E ratio of -3.08 and a beta of -0.08. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94.

Insider Activity at Maravai LifeSciences

In other news, insider Carl Hull purchased 175,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were acquired at an average price of $5.64 per share, for a total transaction of $987,000.00. Following the purchase, the insider now owns 175,000 shares in the company, valued at $987,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Maravai LifeSciences

A number of institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its position in Maravai LifeSciences by 310.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock worth $26,000 after buying an additional 2,711 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Maravai LifeSciences in the second quarter worth $32,000. Blue Trust Inc. purchased a new position in shares of Maravai LifeSciences during the second quarter worth $44,000. Venturi Wealth Management LLC purchased a new stake in Maravai LifeSciences in the third quarter valued at $47,000. Finally, Custom Index Systems LLC acquired a new stake in Maravai LifeSciences during the 3rd quarter worth about $97,000. Institutional investors and hedge funds 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.