Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) shares gapped down before the market opened on Friday after Morgan Stanley lowered their price target on the stock from $7.00 to $5.00. The stock had previously closed at $2.40, but opened at $2.12. Morgan Stanley currently has an equal weight rating on the stock. Maravai LifeSciences shares last traded at $2.33, with a volume of 1,643,998 shares changing hands.
A number of other equities analysts also recently weighed in on MRVI. Baird R W downgraded shares of Maravai LifeSciences from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 26th. Guggenheim assumed coverage on shares of Maravai LifeSciences in a research report on Thursday, December 19th. They issued a "neutral" rating on the stock. The Goldman Sachs Group downgraded shares of Maravai LifeSciences from a "neutral" rating to a "sell" rating and reduced their target price for the company from $7.00 to $4.25 in a research report on Thursday, December 5th. Robert W. Baird cut shares of Maravai LifeSciences from an "outperform" rating to a "neutral" rating and lowered their price target for the stock from $9.00 to $3.00 in a report on Wednesday, February 26th. Finally, UBS Group reduced their price objective on Maravai LifeSciences from $8.00 to $2.50 and set a "neutral" rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $7.59.
View Our Latest Stock Report on MRVI
Insiders Place Their Bets
In other news, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences stock in a transaction on Friday, January 31st. The stock was sold at an average price of $5.03, for a total value of $125,750.00. Following the completion of the transaction, the general counsel now directly owns 167,618 shares in the company, valued at approximately $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 can be accessed through the SEC website. Company insiders own 0.63% of the company's stock.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. Alyeska Investment Group L.P. increased its position in shares of Maravai LifeSciences by 145.8% during the fourth 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 increased its holdings in Maravai LifeSciences by 29.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,664,210 shares of the company's stock worth $25,420,000 after acquiring an additional 1,062,485 shares during the period. JPMorgan Chase & Co. lifted its stake in Maravai LifeSciences by 4.9% in the 4th quarter. JPMorgan Chase & Co. now owns 4,250,656 shares of the company's stock worth $23,166,000 after purchasing an additional 200,411 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings 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 purchasing an additional 62,123 shares during the period. Finally, Jennison Associates LLC grew its position in shares of Maravai LifeSciences by 0.3% during the 4th quarter. Jennison Associates LLC now owns 2,990,414 shares of the company's stock valued at $16,298,000 after purchasing an additional 9,769 shares in the last quarter. Institutional investors own 50.25% of the company's stock.
Maravai LifeSciences Price Performance
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 stock has a market capitalization of $580.81 million, a PE ratio of -1.40 and a beta of -0.08. The business's 50-day moving average price is $3.86 and its 200 day moving average price is $5.70.
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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