Maravai LifeSciences (NASDAQ:MRVI) Trading Down 6.5% - Time to Sell?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report)'s stock price dropped 6.5% during trading on Tuesday . The company traded as low as $2.67 and last traded at $2.68. Approximately 345,806 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 2,218,729 shares. The stock had previously closed at $2.86.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Robert W. Baird downgraded shares of Maravai LifeSciences from an "outperform" rating to a "neutral" rating and dropped their target price for the company from $9.00 to $3.00 in a research report on Wednesday, February 26th. The Goldman Sachs Group cut shares of Maravai LifeSciences from a "neutral" rating to a "sell" rating and cut their price target for the stock from $7.00 to $4.25 in a report on Thursday, December 5th. Bank of America lowered their price target on Maravai LifeSciences from $9.00 to $8.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Wolfe Research started coverage on Maravai LifeSciences in a research report on Thursday, November 14th. They set a "peer perform" rating for the company. Finally, Guggenheim initiated coverage on shares of Maravai LifeSciences in a research report on Thursday, December 19th. They issued a "neutral" rating on the stock. 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. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $9.28.

Maravai LifeSciences Stock Down 7.7 %

The firm's 50-day moving average is $4.54 and its 200 day moving average is $6.20. The firm has a market capitalization of $666.67 million, a P/E ratio of -1.61 and a beta of -0.08. 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 Buying and Selling

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

Institutional Trading of Maravai LifeSciences

Several hedge funds have recently modified their holdings of MRVI. Performa Ltd US LLC lifted its position in shares of Maravai LifeSciences by 614.3% during the 4th quarter. Performa Ltd US LLC now owns 5,000 shares of the company's stock worth $27,000 after buying an additional 4,300 shares in the last quarter. FNY Investment Advisers LLC increased its position in shares of Maravai LifeSciences by 600.0% during the 4th 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 during the last quarter. Venturi Wealth Management LLC bought a new position in shares of Maravai LifeSciences during the third quarter valued at about $47,000. Farther Finance Advisors LLC raised its holdings in Maravai LifeSciences by 3,541.4% during the 4th quarter. Farther Finance Advisors LLC now owns 10,196 shares of the company's stock valued at $56,000 after buying an additional 9,916 shares during the last quarter. Finally, Cibc World Markets Corp purchased a new stake in Maravai LifeSciences in the 4th quarter worth approximately $56,000. Institutional investors own 50.25% of the company's stock.

About Maravai LifeSciences

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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