Maravai LifeSciences (NASDAQ:MRVI) Downgraded by Baird R W to “Hold”

Baird R W lowered shares of Maravai LifeSciences (NASDAQ:MRVI) from a strong-buy rating to a hold rating in a report issued on Wednesday morning,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. William Blair reissued a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Robert W. Baird cut shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $9.00 to $3.00 in a research note on Wednesday. Wolfe Research initiated coverage on shares of Maravai LifeSciences in a research report on Thursday, November 14th. They set a “peer perform” rating for the company. The Goldman Sachs Group downgraded Maravai LifeSciences from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $7.00 to $4.25 in a research report on Thursday, December 5th. Finally, Guggenheim assumed coverage on Maravai LifeSciences in a research note on Thursday, December 19th. They set a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Maravai LifeSciences presently has an average rating of “Hold” and a consensus price target of $9.46.

Maravai LifeSciences Stock Performance

Shares of MRVI opened at $3.25 on Wednesday. Maravai LifeSciences has a 52-week low of $2.93 and a 52-week high of $11.56. The stock’s 50-day simple moving average is $4.93 and its 200 day simple moving average is $6.55. 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 stock has a market capitalization of $820.72 million, a price-to-earnings ratio of -1.98 and a beta of -0.08.

Insider Activity at Maravai LifeSciences

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the company’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 completion of the transaction, the general counsel now directly owns 167,618 shares in the company, valued at approximately $843,118.54. This represents a 12.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.63% of the stock is owned by insiders.

Hedge Funds Weigh In On Maravai LifeSciences

Large investors have recently modified their holdings of the company. Performa Ltd US LLC grew its position in Maravai LifeSciences by 614.3% during the fourth quarter. Performa Ltd US LLC now owns 5,000 shares of the company’s stock valued at $27,000 after acquiring an additional 4,300 shares during the last quarter. FNY Investment Advisers LLC boosted its stake in shares of Maravai LifeSciences by 600.0% in the 4th quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock valued at $38,000 after purchasing an additional 6,000 shares in the last quarter. Venturi Wealth Management LLC bought a new position in shares of Maravai LifeSciences during the 3rd quarter valued at $47,000. Farther Finance Advisors LLC raised its position in Maravai LifeSciences by 3,541.4% in the 4th quarter. Farther Finance Advisors LLC now owns 10,196 shares of the company’s stock worth $56,000 after purchasing an additional 9,916 shares during the period. Finally, Cibc World Markets Corp bought a new stake in Maravai LifeSciences in the fourth quarter worth $56,000. 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.