Robert W. Baird Downgrades Maravai LifeSciences (NASDAQ:MRVI) to Neutral

Maravai LifeSciences (NASDAQ:MRVI) was downgraded by research analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research report issued on Wednesday, Marketbeat.com reports. They currently have a $3.00 price target on the stock, down from their previous price target of $9.00. Robert W. Baird’s price target points to a potential downside of 1.64% from the company’s current price.

Several other equities research analysts have also recently commented on the company. Wolfe Research began coverage on Maravai LifeSciences in a research note on Thursday, November 14th. They issued a “peer perform” rating for the company. Royal Bank of Canada lowered their price target on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Guggenheim began coverage on Maravai LifeSciences in a research report on Thursday, December 19th. They set a “neutral” rating for the company. The Goldman Sachs Group cut Maravai LifeSciences from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $7.00 to $4.25 in a research report on Thursday, December 5th. Finally, William Blair reaffirmed a “market perform” rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $9.46.

Maravai LifeSciences Trading Down 6.2 %

Shares of NASDAQ MRVI opened at $3.05 on Wednesday. The stock has a market cap of $770.21 million, a price-to-earnings ratio of -1.86 and a beta of -0.08. The business has a 50 day simple moving average of $4.88 and a 200 day simple moving average of $6.52. Maravai LifeSciences has a 52 week low of $2.93 and a 52 week high of $11.56. 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 Transactions at Maravai LifeSciences

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the company’s 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. This represents a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Performa Ltd US LLC raised its stake in shares of Maravai LifeSciences by 614.3% in the fourth quarter. Performa Ltd US LLC now owns 5,000 shares of the company’s stock valued at $27,000 after purchasing an additional 4,300 shares in the last quarter. FNY Investment Advisers LLC raised 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 acquiring an additional 6,000 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in Maravai LifeSciences during the third quarter worth $47,000. Farther Finance Advisors LLC raised its stake in Maravai LifeSciences by 3,541.4% during the fourth quarter. Farther Finance Advisors LLC now owns 10,196 shares of the company’s stock worth $56,000 after acquiring an additional 9,916 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new position in Maravai LifeSciences during the fourth quarter worth $56,000. 50.25% of the stock is currently owned by institutional investors and hedge funds.

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.