Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Given Consensus Rating of “Hold” by Brokerages

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) has been assigned an average recommendation of “Hold” from the twelve brokerages that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $9.28.

MRVI has been the subject of several research analyst reports. Baird R W lowered shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. The Goldman Sachs Group lowered shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $7.00 to $4.25 in a research report on Thursday, December 5th. Bank of America reduced their price target on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Guggenheim started coverage on shares of Maravai LifeSciences in a research report on Thursday, December 19th. They set a “neutral” rating for the company. Finally, 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, February 26th.

Insider Activity

In other news, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences stock in a transaction that occurred 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 completion of the transaction, the general counsel now directly owns 167,618 shares of the company’s stock, valued at $843,118.54. The trade was a 12.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Maravai LifeSciences

Several institutional investors have recently made changes to their positions in the company. Alyeska Investment Group L.P. grew its stake in Maravai LifeSciences by 145.8% in the 4th quarter. Alyeska Investment Group L.P. now owns 5,329,420 shares of the company’s stock valued at $29,045,000 after acquiring an additional 3,161,072 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Maravai LifeSciences by 29.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,664,210 shares of the company’s stock valued at $25,420,000 after acquiring an additional 1,062,485 shares during the period. JPMorgan Chase & Co. grew its stake in Maravai LifeSciences by 4.9% in the 4th quarter. JPMorgan Chase & Co. now owns 4,250,656 shares of the company’s stock valued at $23,166,000 after acquiring an additional 200,411 shares during the period. Ameriprise Financial Inc. grew its stake in Maravai LifeSciences by 1.8% in the 4th quarter. Ameriprise Financial Inc. now owns 3,611,625 shares of the company’s stock valued at $19,683,000 after acquiring an additional 62,123 shares during the period. Finally, Jennison Associates LLC grew its stake in Maravai LifeSciences by 0.3% in the 4th quarter. Jennison Associates LLC now owns 2,990,414 shares of the company’s stock valued at $16,298,000 after acquiring an additional 9,769 shares during the period. 50.25% of the stock is owned by hedge funds and other institutional investors.

Maravai LifeSciences Stock Performance

Shares of Maravai LifeSciences stock opened at $2.96 on Friday. The firm has a market capitalization of $747.48 million, a P/E ratio of -1.80 and a beta of -0.08. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89. The company has a 50 day moving average price of $4.59 and a 200 day moving average price of $6.26. Maravai LifeSciences has a 52 week low of $2.63 and a 52 week high of $11.56.

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.