Maravai LifeSciences (NASDAQ:MRVI) Reaches New 1-Year Low – What’s Next?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $2.25 and last traded at $2.31, with a volume of 1169004 shares traded. The stock had previously closed at $2.58.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MRVI. Guggenheim began coverage on shares of Maravai LifeSciences in a report on Thursday, December 19th. They set a “neutral” rating on the stock. Baird R W cut shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Robert W. Baird cut shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $9.00 to $3.00 in a research report on Wednesday, February 26th. Bank of America reduced their price target on 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 downgraded Maravai LifeSciences from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $7.00 to $4.25 in a report on Thursday, December 5th. One 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $9.28.

Maravai LifeSciences Stock Down 9.1 %

The firm has a market cap of $592.18 million, a price-to-earnings ratio of -1.42 and a beta of -0.08. The stock has a 50-day moving average of $4.16 and a 200-day moving average of $5.93. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89.

Insider Activity

In related 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 value of $125,750.00. Following the sale, the general counsel now owns 167,618 shares of the company’s stock, valued at $843,118.54. This trade represents a 12.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Performa Ltd US LLC boosted 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 worth $27,000 after buying an additional 4,300 shares during the period. FNY Investment Advisers LLC increased its position in Maravai LifeSciences by 600.0% in the 4th quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock valued at $38,000 after acquiring an additional 6,000 shares during the period. Farther Finance Advisors LLC raised its stake 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 acquiring an additional 9,916 shares in the last quarter. Cibc World Markets Corp acquired a new position in Maravai LifeSciences during the 4th quarter worth $56,000. Finally, Atria Investments Inc acquired a new stake in Maravai LifeSciences in the fourth quarter worth about $58,000. Institutional investors 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.