Maravai LifeSciences (NASDAQ:MRVI) Shares Gap Down After Analyst Downgrade

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s share price gapped down before the market opened on Friday after UBS Group lowered their price target on the stock from $8.00 to $2.50. The stock had previously closed at $2.40, but opened at $2.12. UBS Group currently has a neutral rating on the stock. Maravai LifeSciences shares last traded at $2.33, with a volume of 1,643,998 shares.

Other equities analysts have also issued research reports about the stock. Baird R W lowered shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Guggenheim assumed coverage on shares of Maravai LifeSciences in a research report on Thursday, December 19th. They set a “neutral” rating for the company. Robert W. Baird downgraded shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $9.00 to $3.00 in a report on Wednesday, February 26th. The Goldman Sachs Group downgraded shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $7.00 to $4.25 in a report on Thursday, December 5th. Finally, Bank of America reduced their price objective on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Maravai LifeSciences presently has a consensus rating of “Hold” and a consensus target price of $8.22.

Insider Buying and Selling at Maravai LifeSciences

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $843,118.54. This represents a 12.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.63% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Maravai LifeSciences

A number of institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its stake 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 in the last quarter. Alyeska Investment Group L.P. lifted its stake in Maravai LifeSciences by 145.8% during 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 buying an additional 3,161,072 shares in the last quarter. Marshall Wace LLP lifted its stake in Maravai LifeSciences by 17,912.9% during the fourth quarter. Marshall Wace LLP now owns 2,778,497 shares of the company’s stock valued at $15,143,000 after buying an additional 2,763,072 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Maravai LifeSciences during the third quarter valued at about $22,108,000. Finally, Massachusetts Financial Services Co. MA lifted its stake 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 valued at $25,420,000 after buying an additional 1,062,485 shares in the last quarter. 50.25% of the stock is owned by institutional investors and hedge funds.

Maravai LifeSciences Stock Down 5.4 %

The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $573.24 million, a PE ratio of -1.38 and a beta of -0.08. The business’s 50 day simple moving average is $3.96 and its 200 day simple moving average is $5.83.

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.