UBS Group Lowers Maravai LifeSciences (NASDAQ:MRVI) Price Target to $2.50

Maravai LifeSciences (NASDAQ:MRVI - Free Report) had its price target trimmed by UBS Group from $8.00 to $2.50 in a research note issued to investors on Friday,Benzinga reports. They currently have a neutral rating on the stock.

MRVI has been the topic of several other reports. Baird R W downgraded shares of Maravai LifeSciences from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Guggenheim initiated coverage on shares of Maravai LifeSciences in a research note on Thursday, December 19th. They issued a "neutral" rating for the company. Robert W. Baird lowered 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 report on Wednesday, February 26th. Bank of America reduced their target price on shares of Maravai LifeSciences from $9.00 to $8.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Finally, The Goldman Sachs Group lowered shares of Maravai LifeSciences from a "neutral" rating to a "sell" rating and cut their price target for the company from $7.00 to $4.25 in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $7.59.

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Maravai LifeSciences Trading Up 2.7 %

NASDAQ MRVI traded up $0.06 on Friday, hitting $2.30. The company's stock had a trading volume of 3,377,302 shares, compared to its average volume of 2,272,512. The company's 50-day simple moving average is $3.86 and its 200 day simple moving average is $5.70. The firm has a market cap of $580.81 million, a P/E ratio of -1.40 and a beta of -0.08. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89. Maravai LifeSciences has a 52-week low of $2.07 and a 52-week high of $11.56.

Insider Activity

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the business'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 sale, the general counsel now directly owns 167,618 shares of the company's stock, valued at $843,118.54. The trade was a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.63% of the company's stock.

Hedge Funds Weigh In On Maravai LifeSciences

A number of hedge funds have recently added to or reduced their stakes in the company. Performa Ltd US LLC raised its position in shares of Maravai LifeSciences by 614.3% during the fourth quarter. Performa Ltd US LLC now owns 5,000 shares of the company's stock valued at $27,000 after buying an additional 4,300 shares during the last quarter. FNY Investment Advisers LLC increased its holdings in shares of Maravai LifeSciences by 600.0% in the fourth quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company's stock valued at $38,000 after purchasing an additional 6,000 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Maravai LifeSciences by 3,541.4% during the fourth quarter. Farther Finance Advisors LLC now owns 10,196 shares of the company's stock worth $56,000 after acquiring an additional 9,916 shares during the last quarter. Cibc World Markets Corp bought a new position in shares of Maravai LifeSciences in the 4th quarter valued at about $56,000. Finally, Atria Investments Inc acquired a new position in Maravai LifeSciences in the fourth quarter valued at approximately $58,000. 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.