Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Sees Large Drop in Short Interest

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) saw a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 8,820,000 shares, a decrease of 14.4% from the February 13th total of 10,300,000 shares. Based on an average daily trading volume, of 2,640,000 shares, the short-interest ratio is currently 3.3 days. Currently, 3.5% of the company's stock are short sold.

Maravai LifeSciences Price Performance

Maravai LifeSciences stock traded down $0.13 during midday trading on Friday, reaching $2.27. The company had a trading volume of 12,718,611 shares, compared to its average volume of 2,261,867. The company has a market capitalization of $573.24 million, a P/E ratio of -1.38 and a beta of -0.08. Maravai LifeSciences has a 12-month low of $2.07 and a 12-month high of $11.56. The firm's fifty day simple moving average is $3.96 and its 200-day simple moving average is $5.81. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94.

Wall Street Analyst Weigh In

MRVI has been the topic of a number of recent analyst reports. Guggenheim initiated coverage on Maravai LifeSciences in a research report on Thursday, December 19th. They set a "neutral" rating on the stock. Baird R W downgraded Maravai LifeSciences from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Robert W. Baird downgraded Maravai LifeSciences from an "outperform" rating to a "neutral" rating and reduced their price target for the stock from $9.00 to $3.00 in a research report on Wednesday, February 26th. Bank of America cut their target price on Maravai LifeSciences from $9.00 to $8.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Finally, UBS Group cut their target price on Maravai LifeSciences from $8.00 to $2.50 and set a "neutral" rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $8.22.

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Insiders Place Their Bets

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the company's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $5.03, for a total transaction of $125,750.00. Following the completion of the sale, the general counsel now owns 167,618 shares in the company, valued at $843,118.54. This represents a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.63% of the stock is owned by company insiders.

Institutional Trading of Maravai LifeSciences

Hedge funds have recently bought and sold shares of the business. Alyeska Investment Group L.P. boosted its position in Maravai LifeSciences by 145.8% in the 4th quarter. Alyeska Investment Group L.P. now owns 5,329,420 shares of the company's stock valued at $29,045,000 after buying an additional 3,161,072 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Maravai LifeSciences by 29.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,664,210 shares of the company's stock valued at $25,420,000 after buying an additional 1,062,485 shares during the period. JPMorgan Chase & Co. boosted its position in Maravai LifeSciences by 4.9% in the 4th quarter. JPMorgan Chase & Co. now owns 4,250,656 shares of the company's stock valued at $23,166,000 after buying an additional 200,411 shares during the period. Ameriprise Financial Inc. boosted its position in Maravai LifeSciences by 1.8% in the 4th quarter. Ameriprise Financial Inc. now owns 3,611,625 shares of the company's stock valued at $19,683,000 after buying an additional 62,123 shares during the period. Finally, Jennison Associates LLC boosted its position in Maravai LifeSciences by 0.3% in 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 during the period. Institutional investors and hedge funds 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.