Maravai LifeSciences (NASDAQ:MRVI) Lowered to “Sell” Rating by The Goldman Sachs Group

The Goldman Sachs Group lowered shares of Maravai LifeSciences (NASDAQ:MRVI) from a neutral rating to a sell rating in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage currently has $4.25 price target on the stock, down from their prior price target of $7.00.

A number of other research firms have also commented on MRVI. Royal Bank of Canada lowered their price target on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Morgan Stanley downgraded Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $11.00 to $10.00 in a research note on Tuesday, August 13th. Wells Fargo & Company began coverage on Maravai LifeSciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price objective for the company. UBS Group upped their price objective on Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Finally, Robert W. Baird reduced their price objective on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $10.03.

Maravai LifeSciences Trading Down 5.9 %

NASDAQ MRVI opened at $5.09 on Thursday. The firm has a market capitalization of $1.29 billion, a P/E ratio of -3.10 and a beta of -0.08. The business has a fifty day simple moving average of $6.88 and a 200 day simple moving average of $8.00. Maravai LifeSciences has a 12 month low of $4.28 and a 12 month high of $11.56. 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 related news, insider Carl Hull purchased 175,000 shares of Maravai LifeSciences stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average cost of $5.64 per share, for a total transaction of $987,000.00. Following the transaction, the insider now directly owns 175,000 shares in the company, valued at $987,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Maravai LifeSciences

A number of large investors have recently made changes to their positions in MRVI. Price T Rowe Associates Inc. MD grew its position in shares of Maravai LifeSciences by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 73,595 shares of the company’s stock worth $639,000 after buying an additional 3,575 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Maravai LifeSciences by 310.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock worth $26,000 after buying an additional 2,711 shares during the last quarter. Blue Trust Inc. bought a new stake in shares of Maravai LifeSciences during the second quarter valued at approximately $44,000. Bank of New York Mellon Corp boosted its position in shares of Maravai LifeSciences by 30.1% during the second quarter. Bank of New York Mellon Corp now owns 506,413 shares of the company’s stock valued at $3,626,000 after purchasing an additional 117,120 shares in the last quarter. Finally, Liontrust Investment Partners LLP boosted its position in shares of Maravai LifeSciences by 14.7% during the second quarter. Liontrust Investment Partners LLP now owns 43,845 shares of the company’s stock valued at $314,000 after purchasing an additional 5,628 shares in the last quarter. 50.25% of the stock is currently owned by institutional investors.

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.