Morgan Stanley Lowers Maravai LifeSciences (NASDAQ:MRVI) Price Target to $5.00

Maravai LifeSciences (NASDAQ:MRVI) had its price target lowered by Morgan Stanley from $7.00 to $5.00 in a research report released on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other equities analysts have also recently issued reports about the company. Baird R W cut Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. 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 report on Monday, March 3rd. The Goldman Sachs Group lowered shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $7.00 to $4.25 in a report on Thursday, December 5th. UBS Group cut their price objective on shares of Maravai LifeSciences from $8.00 to $2.50 and set a “neutral” rating on the stock in a research report on Friday, March 21st. Finally, Guggenheim began coverage on Maravai LifeSciences in a research report on Thursday, December 19th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $7.31.

Maravai LifeSciences Stock Performance

Shares of MRVI opened at $2.35 on Tuesday. The firm’s fifty day simple moving average is $3.77 and its two-hundred day simple moving average is $5.66. Maravai LifeSciences has a 12 month low of $2.07 and a 12 month high of $11.56. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $593.44 million, a P/E ratio of -1.43 and a beta of -0.08.

Insider Activity

In other news, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences stock in a transaction dated 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 in the company, 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 Securities & Exchange Commission, which is available at the SEC website. 0.63% of the stock is currently owned by corporate insiders.

Institutional Trading of Maravai LifeSciences

A number of hedge funds and other institutional investors have recently made changes to their positions in MRVI. SG Americas Securities LLC lifted its holdings in shares of Maravai LifeSciences by 7.3% in the fourth quarter. SG Americas Securities LLC now owns 33,046 shares of the company’s stock worth $180,000 after buying an additional 2,239 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Maravai LifeSciences by 10.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 30,076 shares of the company’s stock worth $164,000 after acquiring an additional 2,851 shares during the period. Performa Ltd US LLC increased its holdings in Maravai LifeSciences by 614.3% during the 4th quarter. Performa Ltd US LLC now owns 5,000 shares of the company’s stock worth $27,000 after acquiring an additional 4,300 shares during the period. FNY Investment Advisers LLC lifted its stake in Maravai LifeSciences by 600.0% in the 4th quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock worth $38,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Orion Portfolio Solutions LLC boosted its holdings in Maravai LifeSciences by 4.8% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 135,749 shares of the company’s stock valued at $1,128,000 after purchasing an additional 6,177 shares during the period. 50.25% of the stock is currently owned by 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.