Maravai LifeSciences (NASDAQ:MRVI) Earns Peer Perform Rating from Analysts at Wolfe Research

Equities researchers at Wolfe Research assumed coverage on shares of Maravai LifeSciences (NASDAQ:MRVI) in a research report issued on Thursday, Marketbeat Ratings reports. The brokerage set a “peer perform” rating on the stock.

A number of other analysts have also recently weighed in on the stock. Robert W. Baird decreased their target price on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. UBS Group boosted their target price on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Morgan Stanley cut shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $11.00 to $10.00 in a research note on Tuesday, August 13th. The Goldman Sachs Group decreased their target price on shares of Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 8th. Finally, William Blair reaffirmed a “market perform” rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.33.

Maravai LifeSciences Stock Down 15.0 %

Shares of MRVI opened at $4.42 on Thursday. Maravai LifeSciences has a one year low of $4.39 and a one year high of $11.56. The company has a market cap of $1.11 billion, a P/E ratio of -2.70 and a beta of 0.02. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.28. The firm has a 50 day simple moving average of $7.76 and a two-hundred day simple moving average of $8.41.

Insider Buying and Selling

In other Maravai LifeSciences news, insider Carl Hull purchased 175,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was purchased at an average cost of $5.64 per share, for a total transaction of $987,000.00. Following the acquisition, the insider now owns 175,000 shares in the company, valued at approximately $987,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.63% of the stock is currently owned by insiders.

Institutional Trading of Maravai LifeSciences

Large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its holdings in Maravai LifeSciences by 30.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 506,413 shares of the company’s stock worth $3,626,000 after acquiring an additional 117,120 shares during the period. Dragoneer Investment Group LLC acquired a new stake in Maravai LifeSciences during the 2nd quarter worth about $5,373,000. Bamco Inc. NY grew its holdings in Maravai LifeSciences by 43.1% during the 1st quarter. Bamco Inc. NY now owns 2,123,651 shares of the company’s stock worth $18,412,000 after acquiring an additional 640,000 shares during the period. Lazard Asset Management LLC grew its holdings in Maravai LifeSciences by 6,252.8% during the 1st quarter. Lazard Asset Management LLC now owns 365,159 shares of the company’s stock worth $3,165,000 after acquiring an additional 359,411 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Maravai LifeSciences by 62.4% during the 2nd quarter. Principal Financial Group Inc. now owns 666,187 shares of the company’s stock worth $4,770,000 after purchasing an additional 255,990 shares in the last quarter. 50.25% of the stock is currently owned by institutional investors and hedge funds.

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.