Guggenheim Initiates Coverage on Maravai LifeSciences (NASDAQ:MRVI)

Equities researchers at Guggenheim started coverage on shares of Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) in a research report issued on Thursday, Marketbeat reports. The firm set a "neutral" rating on the stock.

Other equities analysts have also issued research reports about the company. Wolfe Research began coverage on Maravai LifeSciences in a research note on Thursday, November 14th. They issued a "peer perform" rating on the stock. William Blair reiterated a "market perform" rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Robert W. Baird decreased their price target on shares of Maravai LifeSciences from $10.00 to $9.00 and set an "outperform" rating for the company in a report on Friday, November 8th. Royal Bank of Canada lowered their price target on Maravai LifeSciences from $17.00 to $13.00 and set an "outperform" rating for the company in a report on Friday, November 8th. Finally, Wells Fargo & Company assumed coverage on Maravai LifeSciences in a research report on Tuesday, August 27th. They issued an "overweight" rating and a $10.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Maravai LifeSciences currently has a consensus rating of "Hold" and a consensus price target of $10.28.

Maravai LifeSciences Price Performance

MRVI traded down $0.15 during midday trading on Thursday, hitting $5.43. The company had a trading volume of 1,452,893 shares, compared to its average volume of 2,220,064. Maravai LifeSciences has a twelve month low of $4.28 and a twelve month high of $11.56. The company has a market capitalization of $1.37 billion, a PE ratio of -3.31 and a beta of -0.08. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. The firm's 50-day simple moving average is $6.35 and its 200-day simple moving average is $7.65.

Insiders Place Their Bets

In other news, insider Carl Hull purchased 175,000 shares of Maravai LifeSciences stock in a transaction dated 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 transaction, the insider now directly owns 175,000 shares of the company's stock, valued at approximately $987,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.63% of the company's stock.

Institutional Investors Weigh In On Maravai LifeSciences

A number of hedge funds and other institutional investors have recently modified their holdings of MRVI. Creative Planning lifted its stake in Maravai LifeSciences by 4.4% in the third quarter. Creative Planning now owns 44,943 shares of the company's stock worth $373,000 after acquiring an additional 1,881 shares during the period. Kornitzer Capital Management Inc. KS lifted its holdings in Maravai LifeSciences by 0.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 519,890 shares of the company's stock worth $4,320,000 after buying an additional 3,725 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Maravai LifeSciences during the 2nd quarter worth approximately $32,000. Liontrust Investment Partners LLP lifted its stake in shares of Maravai LifeSciences by 14.7% in the 2nd quarter. Liontrust Investment Partners LLP now owns 43,845 shares of the company's stock valued at $314,000 after purchasing an additional 5,628 shares during the period. Finally, Venturi Wealth Management LLC purchased a new stake in Maravai LifeSciences in the third quarter worth $47,000. Institutional investors 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.