Morgan Stanley Cuts Maravai LifeSciences (NASDAQ:MRVI) Price Target to $5.00

Maravai LifeSciences (NASDAQ:MRVI) had its target price decreased by Morgan Stanley from $7.00 to $5.00 in a report released on Tuesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other equities research analysts have also issued reports about the company. Bank of America decreased their price objective on Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. The Goldman Sachs Group downgraded shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $7.00 to $4.25 in a research report on Thursday, December 5th. UBS Group cut their target price on shares of Maravai LifeSciences from $8.00 to $2.50 and set a “neutral” rating for the company in a research report on Friday, March 21st. Robert W. Baird lowered shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $9.00 to $3.00 in a research note on Wednesday, February 26th. Finally, Guggenheim started coverage on Maravai LifeSciences in a report on Thursday, December 19th. They set a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Maravai LifeSciences has a consensus rating of “Hold” and an average price target of $7.59.

Maravai LifeSciences Price Performance

MRVI opened at $2.30 on Tuesday. The firm has a market capitalization of $580.81 million, a P/E ratio of -1.40 and a beta of -0.08. The stock has a fifty day moving average of $3.86 and a 200-day moving average of $5.70. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89. Maravai LifeSciences has a 12-month low of $2.07 and a 12-month high of $11.56.

Insider Transactions at Maravai LifeSciences

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the stock in a transaction on 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 $843,118.54. This represents a 12.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.63% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Maravai LifeSciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in MRVI. JPMorgan Chase & Co. grew its holdings in shares of Maravai LifeSciences by 1,172.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company’s stock worth $33,658,000 after purchasing an additional 3,731,924 shares in the last quarter. Barclays PLC boosted its stake in Maravai LifeSciences by 349.2% during the third quarter. Barclays PLC now owns 184,189 shares of the company’s stock worth $1,531,000 after buying an additional 143,184 shares in the last quarter. Systematic Financial Management LP increased its holdings in Maravai LifeSciences by 14.7% in the 3rd quarter. Systematic Financial Management LP now owns 1,612,161 shares of the company’s stock valued at $13,397,000 after buying an additional 206,499 shares during the period. Empowered Funds LLC bought a new position in shares of Maravai LifeSciences during the 4th quarter worth about $155,000. Finally, Bleakley Financial Group LLC boosted its position in shares of Maravai LifeSciences by 30.1% during the 4th quarter. Bleakley Financial Group LLC now owns 41,691 shares of the company’s stock valued at $227,000 after acquiring an additional 9,657 shares in the last quarter. 50.25% of the stock is currently owned by institutional investors.

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.