Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $1.95 and last traded at $2.00, with a volume of 127136 shares traded. The stock had previously closed at $2.10.
Analyst Ratings Changes
MRVI has been the subject of several recent research reports. UBS Group lowered 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 note on Friday, March 21st. Bank of America lowered their price objective on shares of Maravai LifeSciences from $9.00 to $8.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Morgan Stanley dropped their price objective on shares of Maravai LifeSciences from $7.00 to $5.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 25th. Robert W. Baird downgraded 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, Stifel Nicolaus set a $5.00 price target on Maravai LifeSciences in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Maravai LifeSciences presently has an average rating of "Hold" and a consensus price target of $7.31.
Check Out Our Latest Analysis on Maravai LifeSciences
Maravai LifeSciences Stock Performance
The stock has a market cap of $493.41 million, a price-to-earnings ratio of -1.18 and a beta of 0.18. The company's 50 day simple moving average is $3.20 and its 200 day simple moving average is $5.21. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74.
Insider Activity 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 stock was sold at an average price of $5.03, for a total transaction of $125,750.00. Following the completion of the transaction, the general counsel now directly owns 167,618 shares of the company's stock, valued at approximately $843,118.54. This trade represents a 12.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.63% of the company's stock.
Institutional Trading of Maravai LifeSciences
A number of hedge funds and other institutional investors have recently modified their holdings of MRVI. Alyeska Investment Group L.P. raised its position in Maravai LifeSciences by 145.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 5,329,420 shares of the company's stock worth $29,045,000 after acquiring an additional 3,161,072 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of 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 worth $25,420,000 after purchasing an additional 1,062,485 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Maravai LifeSciences by 4.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,250,656 shares of the company's stock valued at $23,166,000 after purchasing an additional 200,411 shares during the last quarter. Ameriprise Financial Inc. grew its position in Maravai LifeSciences by 1.8% in the fourth quarter. Ameriprise Financial Inc. now owns 3,611,625 shares of the company's stock worth $19,683,000 after buying an additional 62,123 shares during the last quarter. Finally, Jennison Associates LLC grew its position in Maravai LifeSciences by 0.3% in the fourth quarter. Jennison Associates LLC now owns 2,990,414 shares of the company's stock worth $16,298,000 after buying an additional 9,769 shares during the last quarter. Institutional investors own 50.25% of the company's stock.
About Maravai LifeSciences
(
Get Free Report)
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.
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