Maravai LifeSciences (NASDAQ:MRVI - Free Report) had its price target lowered by Morgan Stanley from $7.00 to $5.00 in a research note released on Tuesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.
A number of other equities research analysts also recently commented on the stock. Bank of America dropped their price objective on shares of Maravai LifeSciences from $9.00 to $8.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. The Goldman Sachs Group lowered Maravai LifeSciences from a "neutral" rating to a "sell" rating and dropped their target price for the company from $7.00 to $4.25 in a report on Thursday, December 5th. Guggenheim initiated coverage on Maravai LifeSciences in a report on Thursday, December 19th. They set a "neutral" rating for the company. UBS Group dropped their price objective on Maravai LifeSciences from $8.00 to $2.50 and set a "neutral" rating on the stock in a report on Friday, March 21st. Finally, Robert W. Baird lowered Maravai LifeSciences from an "outperform" rating to a "neutral" rating and cut their target price for the stock from $9.00 to $3.00 in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $7.31.
Read Our Latest Analysis on MRVI
Maravai LifeSciences Stock Up 0.4 %
Shares of Maravai LifeSciences stock traded up $0.01 on Tuesday, reaching $2.36. 2,820,403 shares of the company were exchanged, compared to its average volume of 2,325,960. The stock's 50 day moving average price is $3.73 and its 200-day moving average price is $5.61. The company has a market cap of $595.97 million, a P/E ratio of -1.44 and a beta of -0.08. Maravai LifeSciences has a 1-year low of $2.07 and a 1-year high of $11.56. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94.
Insider Transactions at Maravai LifeSciences
In other news, General Counsel Kurt Oreshack sold 25,000 shares of the stock in a transaction dated Friday, January 31st. The shares were 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 approximately $843,118.54. This represents a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.63% of the company's stock.
Institutional Trading of Maravai LifeSciences
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its stake in shares of Maravai LifeSciences by 7.3% in the 4th quarter. SG Americas Securities LLC now owns 33,046 shares of the company's stock valued at $180,000 after purchasing an additional 2,239 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Maravai LifeSciences by 10.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 30,076 shares of the company's stock valued at $164,000 after buying an additional 2,851 shares during the period. Performa Ltd US LLC increased its stake in Maravai LifeSciences by 614.3% in the 4th 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 period. FNY Investment Advisers LLC raised its position in Maravai LifeSciences by 600.0% during the 4th quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company's stock worth $38,000 after buying an additional 6,000 shares during the last quarter. Finally, Orion Portfolio Solutions LLC lifted its stake in shares of Maravai LifeSciences by 4.8% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 135,749 shares of the company's stock worth $1,128,000 after acquiring an additional 6,177 shares during the period. 50.25% of the stock is owned by hedge funds and other institutional investors.
About Maravai LifeSciences
(
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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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