Maravai LifeSciences (NASDAQ:MRVI) Hits New 52-Week Low – Time to Sell?

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $3.91 and last traded at $4.01, with a volume of 3330920 shares traded. The stock had previously closed at $4.11.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MRVI shares. The Goldman Sachs Group lowered shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $7.00 to $4.25 in a research note on Thursday, December 5th. Royal Bank of Canada decreased their price target on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. William Blair reaffirmed a “market perform” rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. Baird R W lowered shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Finally, Robert W. Baird lowered shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $9.00 to $3.00 in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $9.46.

Maravai LifeSciences Price Performance

The stock’s fifty day moving average price is $4.93 and its 200-day moving average price is $6.55. The firm has a market cap of $770.21 million, a price-to-earnings ratio of -1.86 and a beta of -0.08. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89.

Insider Activity at Maravai LifeSciences

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the business’s stock in a transaction on Friday, January 31st. The shares were 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 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 legal filing with the SEC, which is available at the SEC website. 0.63% of the stock is owned by insiders.

Institutional Investors Weigh In On Maravai LifeSciences

Several institutional investors have recently modified their holdings of the company. Creative Planning lifted its position in Maravai LifeSciences by 4.4% in the third 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 last quarter. China Universal Asset Management Co. Ltd. lifted its position in Maravai LifeSciences by 74.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 27,225 shares of the company’s stock valued at $226,000 after acquiring 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 $590,000. Kornitzer Capital Management Inc. KS lifted its position in Maravai LifeSciences by 0.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 519,890 shares of the company’s stock valued at $4,320,000 after acquiring an additional 3,725 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new stake in Maravai LifeSciences in the third quarter valued at $47,000. 50.25% of the stock is 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.