Maravai LifeSciences (NASDAQ:MRVI) Downgraded to Hold Rating by Baird R W

Maravai LifeSciences (NASDAQ:MRVI) was downgraded by analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other research analysts have also recently issued reports about the company. Royal Bank of Canada reduced their price objective 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. Robert W. Baird lowered shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $9.00 to $3.00 in a research report on Wednesday. Guggenheim began coverage on shares of Maravai LifeSciences in a research note on Thursday, December 19th. They set a “neutral” rating for the company. The Goldman Sachs Group lowered shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $7.00 to $4.25 in a research note on Thursday, December 5th. Finally, William Blair restated 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 data from MarketBeat.com, Maravai LifeSciences presently has an average rating of “Hold” and a consensus price target of $9.46.

Maravai LifeSciences Stock Performance

Shares of MRVI stock opened at $3.25 on Wednesday. The business has a fifty day moving average of $4.93 and a 200 day moving average of $6.55. Maravai LifeSciences has a 1 year low of $2.93 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. The firm has a market capitalization of $820.72 million, a price-to-earnings ratio of -1.98 and a beta of -0.08.

Insider Activity at Maravai LifeSciences

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences stock in a transaction on Friday, January 31st. The shares were 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Maravai LifeSciences

Hedge funds have recently modified their holdings of the company. Performa Ltd US LLC increased its stake in shares of 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 purchasing an additional 4,300 shares in the last quarter. FNY Investment Advisers LLC increased its position in shares of Maravai LifeSciences by 600.0% in the fourth quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock valued at $38,000 after buying an additional 6,000 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Maravai LifeSciences in the third quarter valued at approximately $47,000. Farther Finance Advisors LLC raised its stake in shares of Maravai LifeSciences by 3,541.4% during the 4th quarter. Farther Finance Advisors LLC now owns 10,196 shares of the company’s stock worth $56,000 after buying an additional 9,916 shares during the period. Finally, Cibc World Markets Corp acquired a new stake in Maravai LifeSciences in the 4th quarter valued at $56,000. 50.25% of the stock is owned by hedge funds and other institutional investors.

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.