Maravai LifeSciences (NASDAQ:MRVI) Reaches New 1-Year Low – Here’s Why

by · The Markets Daily

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Get Free Report)’s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $4.05 and last traded at $4.18, with a volume of 107889 shares traded. The stock had previously closed at $4.10.

Analysts Set New Price Targets

A number of research firms recently weighed in on MRVI. Wolfe Research assumed coverage on Maravai LifeSciences in a report on Thursday, November 14th. They issued a “peer perform” rating for the company. Royal Bank of Canada lowered their price objective on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. The Goldman Sachs Group cut Maravai LifeSciences from a “neutral” rating to a “sell” rating and reduced their target price for the company from $7.00 to $4.25 in a report on Thursday, December 5th. Guggenheim initiated coverage on shares of Maravai LifeSciences in a research report on Thursday, December 19th. They issued a “neutral” rating on the stock. Finally, William Blair reiterated a “market perform” rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Maravai LifeSciences currently has a consensus rating of “Hold” and a consensus target price of $10.28.

Get Our Latest Stock Report on Maravai LifeSciences

Maravai LifeSciences Trading Up 4.1 %

The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. The business has a 50 day moving average of $5.09 and a two-hundred day moving average of $6.71. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -2.51 and a beta of -0.08.

Insider Buying and Selling

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the company’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 in the company, valued at approximately $843,118.54. This represents a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.63% of the stock is owned by company insiders.

Institutional Investors Weigh In On Maravai LifeSciences

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning boosted its stake in Maravai LifeSciences by 4.4% during the 3rd quarter. Creative Planning now owns 44,943 shares of the company’s stock valued at $373,000 after purchasing an additional 1,881 shares during the last quarter. Bleakley Financial Group LLC boosted its position in shares of Maravai LifeSciences by 38.3% during the third quarter. Bleakley Financial Group LLC now owns 32,034 shares of the company’s stock valued at $266,000 after buying an additional 8,863 shares during the last quarter. Blue Trust Inc. grew its holdings in Maravai LifeSciences by 181.1% during the third quarter. Blue Trust Inc. now owns 17,409 shares of the company’s stock worth $145,000 after buying an additional 11,215 shares in the last quarter. E. Ohman J or Asset Management AB raised its position in Maravai LifeSciences by 28.8% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 232,751 shares of the company’s stock valued at $1,934,000 after buying an additional 52,000 shares during the last quarter. Finally, Custom Index Systems LLC bought a new position in Maravai LifeSciences during the 3rd quarter valued at $97,000. 50.25% of the stock is owned by institutional investors.

About Maravai LifeSciences

(Get Free Report)

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.

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