Maravai LifeSciences (NASDAQ:MRVI) Shares Down 2.9% on Analyst Downgrade

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price fell 2.9% during mid-day trading on Monday after UBS Group lowered their price target on the stock from $8.00 to $2.50. UBS Group currently has a neutral rating on the stock. Maravai LifeSciences traded as low as $2.20 and last traded at $2.21. 2,838,498 shares were traded during trading, an increase of 25% from the average session volume of 2,264,408 shares. The stock had previously closed at $2.27.

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

Insider Buying and Selling at Maravai LifeSciences

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.63% of the company’s stock.

Institutional Trading of Maravai LifeSciences

Several institutional investors and hedge funds have recently modified their holdings of the business. Alyeska Investment Group L.P. grew its position in 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 worth $29,045,000 after acquiring an additional 3,161,072 shares in the last quarter. 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 worth $25,420,000 after purchasing an additional 1,062,485 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Maravai LifeSciences by 4.9% in the 4th quarter. JPMorgan Chase & Co. now owns 4,250,656 shares of the company’s stock worth $23,166,000 after purchasing an additional 200,411 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Maravai LifeSciences by 1.8% during the 4th quarter. Ameriprise Financial Inc. now owns 3,611,625 shares of the company’s stock valued at $19,683,000 after purchasing an additional 62,123 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Maravai LifeSciences by 0.3% during the 4th quarter. Jennison Associates LLC now owns 2,990,414 shares of the company’s stock valued at $16,298,000 after buying an additional 9,769 shares in the last quarter. Hedge funds and other institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Stock Down 1.3 %

The company has a market cap of $565.66 million, a P/E ratio of -1.37 and a beta of -0.08. The stock has a 50-day moving average of $3.91 and a two-hundred day moving average of $5.75. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74.

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.