Maravai LifeSciences (NASDAQ:MRVI) Shares Gap Down Following Analyst Downgrade

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) gapped down before the market opened on Friday after UBS Group lowered their price target on the stock from $8.00 to $2.50. The stock had previously closed at $2.40, but opened at $2.12. UBS Group currently has a neutral rating on the stock. Maravai LifeSciences shares last traded at $2.33, with a volume of 1,643,998 shares traded.

Several other brokerages have also weighed in on MRVI. Bank of America cut 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. Baird R W lowered shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. The Goldman Sachs Group lowered shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and cut their price objective for the company from $7.00 to $4.25 in a research report on Thursday, December 5th. Guggenheim initiated coverage on shares of Maravai LifeSciences in a research report on Thursday, December 19th. They set a “neutral” rating on the stock. Finally, Robert W. Baird lowered shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and cut their price objective for the company 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 assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $8.22.

Insider Buying and Selling

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $5.03, for a total transaction of $125,750.00. Following the transaction, the general counsel now owns 167,618 shares of the company’s stock, 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 legal filing with the SEC, which is available through this hyperlink. 0.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Maravai LifeSciences

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC increased its position in Maravai LifeSciences by 7.3% during the fourth quarter. SG Americas Securities LLC now owns 33,046 shares of the company’s stock worth $180,000 after acquiring an additional 2,239 shares during the period. China Universal Asset Management Co. Ltd. increased its position in Maravai LifeSciences by 10.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 30,076 shares of the company’s stock worth $164,000 after acquiring an additional 2,851 shares during the period. Performa Ltd US LLC increased its position in 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 acquiring an additional 4,300 shares during the period. FNY Investment Advisers LLC boosted its stake in Maravai LifeSciences by 600.0% during the fourth 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 in the last quarter. Finally, Orion Portfolio Solutions LLC boosted its stake in Maravai LifeSciences by 4.8% during the third quarter. Orion Portfolio Solutions LLC now owns 135,749 shares of the company’s stock worth $1,128,000 after buying an additional 6,177 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 current ratio of 10.74 and a quick ratio of 9.94. The stock’s 50 day simple moving average is $4.01 and its two-hundred day simple moving average is $5.88. The stock has a market cap of $571.98 million, a price-to-earnings ratio of -1.37 and a beta of -0.08.

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.