Brokerages Set Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Price Target at $10.28

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) have been assigned a consensus recommendation of “Hold” from the eleven analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $10.28.

MRVI has been the topic of several recent analyst reports. Guggenheim assumed coverage on Maravai LifeSciences in a research report on Thursday, December 19th. They set a “neutral” rating on the stock. Robert W. Baird dropped their price target on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. The Goldman Sachs Group cut shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $7.00 to $4.25 in a report on Thursday, December 5th. Royal Bank of Canada dropped their target price on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Finally, William Blair reiterated a “market perform” rating on shares of Maravai LifeSciences in a research note on Friday, November 8th.

Insider Buying and Selling at Maravai LifeSciences

In other news, insider Carl Hull purchased 175,000 shares of the stock in a transaction on Monday, November 11th. The shares were acquired at an average price of $5.64 per share, with a total value of $987,000.00. Following the completion of the acquisition, the insider now directly owns 175,000 shares of the company’s stock, valued at $987,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through 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 modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Maravai LifeSciences in the 2nd quarter worth $32,000. FNY Investment Advisers LLC lifted its position in shares of Maravai LifeSciences by 600.0% in the fourth quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock valued at $38,000 after acquiring an additional 6,000 shares in the last quarter. Venturi Wealth Management LLC bought a new position in shares of Maravai LifeSciences in the third quarter worth about $47,000. Custom Index Systems LLC purchased a new stake in shares of Maravai LifeSciences during the third quarter worth about $97,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Maravai LifeSciences during the 3rd quarter valued at approximately $105,000. 50.25% of the stock is owned by hedge funds and other institutional investors.

Maravai LifeSciences Stock Performance

Shares of MRVI opened at $4.56 on Friday. Maravai LifeSciences has a 12 month low of $4.28 and a 12 month high of $11.56. The business’s fifty day simple moving average is $5.52 and its two-hundred day simple moving average is $7.38. 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 company has a market cap of $1.15 billion, a price-to-earnings ratio of -2.78 and a beta of -0.07.

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.