Brokerages Set Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Price Target at $10.28

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) has earned a consensus rating of “Hold” from the eleven research firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $10.28.

A number of equities research analysts have commented on MRVI shares. Robert W. Baird decreased their price target on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. The Goldman Sachs Group lowered shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and cut 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 research note on Thursday, December 19th. They set a “neutral” rating for the company. William Blair restated a “market perform” rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. Finally, Wolfe Research initiated coverage on Maravai LifeSciences in a report on Thursday, November 14th. They issued a “peer perform” rating on the stock.

Maravai LifeSciences Stock Up 4.4 %

NASDAQ:MRVI opened at $4.77 on Friday. The company’s 50-day simple moving average is $5.39 and its 200-day simple moving average is $7.34. The stock has a market capitalization of $1.20 billion, a P/E ratio of -2.91 and a beta of -0.07. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. Maravai LifeSciences has a fifty-two week low of $4.28 and a fifty-two week high of $11.56.

Insider Buying and Selling at Maravai LifeSciences

In other news, insider Carl Hull acquired 175,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were bought at an average price of $5.64 per share, for a total transaction of $987,000.00. Following the completion of the purchase, the insider now directly owns 175,000 shares of the company’s stock, valued at approximately $987,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On Maravai LifeSciences

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its holdings in shares of Maravai LifeSciences by 30.1% during the second quarter. Bank of New York Mellon Corp now owns 506,413 shares of the company’s stock valued at $3,626,000 after buying an additional 117,120 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Maravai LifeSciences by 30.4% in the 2nd quarter. Rhumbline Advisers now owns 171,489 shares of the company’s stock valued at $1,228,000 after purchasing an additional 39,955 shares during the period. Choreo LLC purchased a new position in shares of Maravai LifeSciences in the second quarter worth approximately $467,000. Headlands Technologies LLC raised its stake in Maravai LifeSciences by 205.9% during the 2nd quarter. Headlands Technologies LLC now owns 14,935 shares of the company’s stock valued at $107,000 after purchasing an additional 10,053 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Maravai LifeSciences by 15.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,550,503 shares of the company’s stock valued at $32,582,000 after buying an additional 598,530 shares in the last quarter. 50.25% of the stock is currently owned by hedge funds and other institutional investors.

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.