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

Maravai LifeSciences (NASDAQ:MRVI) was downgraded by investment analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other equities analysts also recently weighed in on MRVI. Wolfe Research began coverage on shares of Maravai LifeSciences in a research note on Thursday, November 14th. They issued a “peer perform” rating on the stock. The Goldman Sachs Group downgraded shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and cut their price objective for the company from $7.00 to $4.25 in a report on Thursday, December 5th. Robert W. Baird cut 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 report on Wednesday. William Blair reaffirmed a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Finally, Guggenheim started coverage on Maravai LifeSciences in a research report on Thursday, December 19th. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Maravai LifeSciences presently has a consensus rating of “Hold” and a consensus price target of $9.46.

Maravai LifeSciences Stock Up 3.5 %

NASDAQ MRVI opened at $3.25 on Wednesday. Maravai LifeSciences has a one year low of $2.93 and a one year high of $11.56. 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 business has a fifty day moving average price of $4.93 and a 200 day moving average price of $6.55. The company has a market cap of $820.72 million, a P/E ratio of -1.98 and a beta of -0.08.

Insider Activity at Maravai LifeSciences

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences stock in a transaction on Friday, January 31st. The stock was sold at an average price of $5.03, for a total value of $125,750.00. Following the sale, the general counsel now owns 167,618 shares in the company, valued at $843,118.54. The trade was 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 through the SEC website. 0.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Maravai LifeSciences

A number of hedge funds have recently modified their holdings of MRVI. Creative Planning raised its stake in shares of Maravai LifeSciences by 4.4% in the 3rd quarter. Creative Planning now owns 44,943 shares of the company’s stock valued at $373,000 after acquiring an additional 1,881 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in Maravai LifeSciences by 74.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 27,225 shares of the company’s stock valued at $226,000 after purchasing an additional 11,621 shares during the last quarter. Cannon Global Investment Management LLC purchased a new stake in Maravai LifeSciences in the third quarter valued at approximately $590,000. Kornitzer Capital Management Inc. KS lifted its stake in Maravai LifeSciences by 0.7% during the third quarter. Kornitzer Capital Management Inc. KS now owns 519,890 shares of the company’s stock worth $4,320,000 after purchasing an additional 3,725 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in shares of Maravai LifeSciences during the third quarter worth $47,000. 50.25% of the stock is currently owned by hedge funds and other 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.