Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Given Average Recommendation of "Hold" by Brokerages

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) have received a consensus rating of "Hold" from the ten research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $10.28.

A number of research firms have commented on MRVI. Wells Fargo & Company assumed coverage on shares of Maravai LifeSciences in a research report on Tuesday, August 27th. They issued an "overweight" rating and a $10.00 price target on the stock. Robert W. Baird decreased their price target on Maravai LifeSciences from $10.00 to $9.00 and set an "outperform" rating on the stock in a research report on Friday, November 8th. William Blair reiterated a "market perform" rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. The Goldman Sachs Group cut Maravai LifeSciences from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $7.00 to $4.25 in a report on Thursday, December 5th. Finally, Royal Bank of Canada cut 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.

Insider Activity at Maravai LifeSciences

In related news, insider Carl Hull purchased 175,000 shares of the business's stock in a transaction on Monday, November 11th. The shares were purchased at an average price of $5.64 per share, with a total value of $987,000.00. Following the completion of the purchase, the insider now owns 175,000 shares in the company, valued at $987,000. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.63% of the company's stock.

Hedge Funds Weigh In On Maravai LifeSciences

Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its holdings in shares of Maravai LifeSciences by 30.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 506,413 shares of the company's stock valued at $3,626,000 after purchasing an additional 117,120 shares during the period. Dragoneer Investment Group LLC bought a new position in shares of Maravai LifeSciences during the 2nd quarter worth approximately $5,373,000. Principal Financial Group Inc. increased its holdings 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 acquiring an additional 255,990 shares during the last quarter. Royce & Associates LP lifted its stake in shares of Maravai LifeSciences by 130.4% during the 3rd quarter. Royce & Associates LP now owns 908,778 shares of the company's stock worth $7,552,000 after buying an additional 514,332 shares during the last quarter. Finally, Sivik Global Healthcare LLC boosted its holdings in shares of Maravai LifeSciences by 23.3% during the second quarter. Sivik Global Healthcare LLC now owns 450,000 shares of the company's stock worth $3,222,000 after acquiring an additional 85,000 shares during the period. 50.25% of the stock is owned by institutional investors.

Maravai LifeSciences Price Performance

Maravai LifeSciences stock traded up $0.22 during mid-day trading on Tuesday, hitting $5.81. 2,427,212 shares of the company were exchanged, compared to its average volume of 2,225,135. The company has a market capitalization of $1.47 billion, a PE ratio of -3.54 and a beta of -0.08. The business has a fifty day moving average of $6.44 and a 200 day moving average of $7.68. Maravai LifeSciences has a 1-year low of $4.28 and a 1-year high of $11.56. 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 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.