Morgan Stanley Cuts Maravai LifeSciences (NASDAQ:MRVI) Price Target to $5.00

Maravai LifeSciences (NASDAQ:MRVI) had its target price reduced by Morgan Stanley from $7.00 to $5.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

MRVI has been the subject of several other research reports. Baird R W lowered shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. Guggenheim assumed coverage on Maravai LifeSciences in a report on Thursday, December 19th. They issued a “neutral” rating for the company. UBS Group cut their price objective on Maravai LifeSciences from $8.00 to $2.50 and set a “neutral” rating on the stock in a report on Friday, March 21st. Robert W. Baird lowered Maravai LifeSciences from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $9.00 to $3.00 in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group downgraded shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $7.00 to $4.25 in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $7.31.

Maravai LifeSciences Trading Down 0.8 %

NASDAQ MRVI opened at $2.35 on Tuesday. Maravai LifeSciences has a 12 month low of $2.07 and a 12 month high of $11.56. The stock has a 50-day simple moving average of $3.77 and a 200 day simple moving average of $5.66. 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 capitalization of $593.44 million, a PE ratio of -1.43 and a beta of -0.08.

Insider Activity

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the company’s 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 sale, the general counsel now directly owns 167,618 shares in the company, valued at $843,118.54. This represents a 12.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Maravai LifeSciences

A number of institutional investors have recently added to or reduced their stakes in MRVI. Performa Ltd US LLC grew its stake in shares of Maravai LifeSciences by 614.3% during the fourth quarter. Performa Ltd US LLC now owns 5,000 shares of the company’s stock worth $27,000 after buying an additional 4,300 shares during the last quarter. FNY Investment Advisers LLC grew its position in Maravai LifeSciences by 600.0% during the 4th quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock worth $38,000 after acquiring an additional 6,000 shares during the last quarter. Farther Finance Advisors LLC grew its position in Maravai LifeSciences by 3,541.4% during the 4th quarter. Farther Finance Advisors LLC now owns 10,196 shares of the company’s stock worth $56,000 after acquiring an additional 9,916 shares during the last quarter. Cibc World Markets Corp acquired a new position in Maravai LifeSciences in the 4th quarter worth about $56,000. Finally, Atria Investments Inc bought a new position in Maravai LifeSciences in the fourth quarter valued at about $58,000. 50.25% of the stock is currently owned by institutional investors and hedge funds.

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.