Maravai LifeSciences (NASDAQ:MRVI) Hits New 52-Week Low – Time to Sell?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $3.91 and last traded at $4.01, with a volume of 3330920 shares. The stock had previously closed at $4.11.

Wall Street Analyst Weigh In

MRVI has been the topic of a number of recent analyst reports. The Goldman Sachs Group lowered shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $7.00 to $4.25 in a research note on Thursday, December 5th. Wolfe Research initiated coverage on shares of Maravai LifeSciences in a research note on Thursday, November 14th. They set a “peer perform” rating on the stock. Robert W. Baird lowered shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $9.00 to $3.00 in a research note on Wednesday. Baird R W lowered shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Finally, Guggenheim initiated coverage on shares of Maravai LifeSciences in a research report on Thursday, December 19th. They set a “neutral” rating on the stock. One 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $9.46.

Maravai LifeSciences Stock Down 6.2 %

The firm has a 50-day simple moving average of $4.93 and a 200 day simple moving average of $6.55. 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 company has a market capitalization of $770.21 million, a PE ratio of -1.86 and a beta of -0.08.

Insider Buying and Selling at Maravai LifeSciences

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $5.03, for a total value of $125,750.00. Following the transaction, the general counsel now directly owns 167,618 shares of the company’s stock, valued at $843,118.54. This trade represents a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.63% of the stock is currently owned by corporate insiders.

Institutional Trading of Maravai LifeSciences

Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its stake in Maravai LifeSciences by 1,172.4% in the third quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company’s stock worth $33,658,000 after purchasing an additional 3,731,924 shares in the last quarter. Royce & Associates LP grew its stake in Maravai LifeSciences by 130.4% in the third quarter. Royce & Associates LP now owns 908,778 shares of the company’s stock worth $7,552,000 after purchasing an additional 514,332 shares in the last quarter. Barclays PLC grew its stake in Maravai LifeSciences by 349.2% in the third quarter. Barclays PLC now owns 184,189 shares of the company’s stock worth $1,531,000 after purchasing an additional 143,184 shares in the last quarter. Systematic Financial Management LP grew its stake in Maravai LifeSciences by 14.7% in the third quarter. Systematic Financial Management LP now owns 1,612,161 shares of the company’s stock worth $13,397,000 after purchasing an additional 206,499 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its stake in Maravai LifeSciences by 30.1% in the fourth quarter. Bleakley Financial Group LLC now owns 41,691 shares of the company’s stock worth $227,000 after purchasing an additional 9,657 shares in the last quarter. 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.