Robert W. Baird Downgrades Maravai LifeSciences (NASDAQ:MRVI) to Neutral

Robert W. Baird downgraded shares of Maravai LifeSciences (NASDAQ:MRVI) from an outperform rating to a neutral rating in a research note released on Wednesday morning, MarketBeat Ratings reports. Robert W. Baird currently has $3.00 target price on the stock, down from their prior target price of $9.00.

Several other research firms have also issued reports on MRVI. Wolfe Research initiated coverage on shares of Maravai LifeSciences in a research report on Thursday, November 14th. They set a “peer perform” rating on the stock. The Goldman Sachs Group cut shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and dropped their target price for the company from $7.00 to $4.25 in a report on Thursday, December 5th. Royal Bank of Canada reduced their price target on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Guggenheim assumed coverage on Maravai LifeSciences in a research note on Thursday, December 19th. They issued a “neutral” rating on the stock. Finally, William Blair reaffirmed a “market perform” rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $9.46.

Maravai LifeSciences Trading Up 3.5 %

Shares of Maravai LifeSciences stock opened at $3.25 on Wednesday. The stock has a market cap of $820.72 million, a P/E ratio of -1.98 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. Maravai LifeSciences has a 12-month low of $2.93 and a 12-month high of $11.56. The business’s 50 day moving average is $4.93 and its 200-day moving average is $6.55.

Insiders Place Their Bets

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the stock in a transaction on Friday, January 31st. The stock was 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 $843,118.54. This trade represents a 12.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Maravai LifeSciences

Institutional investors have recently modified their holdings of the business. Delta Investment Management LLC increased its position in Maravai LifeSciences by 285.4% during the fourth quarter. Delta Investment Management LLC now owns 332,993 shares of the company’s stock worth $1,815,000 after acquiring an additional 246,592 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Maravai LifeSciences by 22.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 251,214 shares of the company’s stock worth $1,369,000 after purchasing an additional 45,454 shares in the last quarter. Systematic Financial Management LP increased its holdings in shares of Maravai LifeSciences by 2.3% during the fourth quarter. Systematic Financial Management LP now owns 1,649,544 shares of the company’s stock worth $8,990,000 after purchasing an additional 37,383 shares during the period. Sherbrooke Park Advisers LLC bought a new position in shares of Maravai LifeSciences during the fourth quarter worth approximately $78,000. Finally, ProShare Advisors LLC raised its position in shares of Maravai LifeSciences by 89.8% in the fourth quarter. ProShare Advisors LLC now owns 55,488 shares of the company’s stock valued at $302,000 after buying an additional 26,251 shares in the last quarter. Institutional investors own 50.25% of the company’s stock.

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.