Maravai LifeSciences (NASDAQ:MRVI) Given New $2.50 Price Target at UBS Group

Maravai LifeSciences (NASDAQ:MRVI) had its price target decreased by UBS Group from $8.00 to $2.50 in a research note published on Friday morning,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Several other brokerages also recently weighed in on MRVI. Robert W. Baird downgraded Maravai LifeSciences from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $9.00 to $3.00 in a research note on Wednesday, February 26th. Bank of America lowered their price objective on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Baird R W downgraded shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Guggenheim started coverage on shares of Maravai LifeSciences in a research note on Thursday, December 19th. They set a “neutral” rating on the stock. Finally, The Goldman Sachs Group cut shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and cut their price target for the stock from $7.00 to $4.25 in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $8.22.

Maravai LifeSciences Price Performance

Shares of MRVI opened at $2.27 on Friday. The company has a market capitalization of $573.24 million, a price-to-earnings ratio of -1.38 and a beta of -0.08. Maravai LifeSciences has a fifty-two week low of $2.07 and a fifty-two week high of $11.56. The firm has a 50-day simple moving average of $3.96 and a 200-day simple moving average of $5.83. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74.

Insiders Place Their Bets

In related 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 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 approximately $843,118.54. The trade was a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.63% of the stock is currently owned by insiders.

Institutional Trading of Maravai LifeSciences

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in shares of Maravai LifeSciences by 1,172.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company’s stock worth $33,658,000 after buying an additional 3,731,924 shares in the last quarter. Barclays PLC lifted its holdings in shares of Maravai LifeSciences by 349.2% in the third quarter. Barclays PLC now owns 184,189 shares of the company’s stock valued at $1,531,000 after purchasing an additional 143,184 shares in the last quarter. Systematic Financial Management LP grew its position in shares of Maravai LifeSciences by 14.7% in the third quarter. Systematic Financial Management LP now owns 1,612,161 shares of the company’s stock valued at $13,397,000 after purchasing an additional 206,499 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Maravai LifeSciences during the 4th quarter worth approximately $155,000. Finally, Bleakley Financial Group LLC raised its position in shares of Maravai LifeSciences by 30.1% during the 4th quarter. Bleakley Financial Group LLC now owns 41,691 shares of the company’s stock worth $227,000 after purchasing an additional 9,657 shares during the last quarter. Institutional investors and hedge funds own 50.25% of the company’s stock.

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.