Maravai LifeSciences (NASDAQ:MRVI) Coverage Initiated at Guggenheim

Equities research analysts at Guggenheim began coverage on shares of Maravai LifeSciences (NASDAQ:MRVI) in a report issued on Thursday, Marketbeat.com reports. The firm set a “neutral” rating on the stock.

A number of other analysts also recently issued reports on MRVI. Wells Fargo & Company assumed coverage on shares of Maravai LifeSciences in a report on Tuesday, August 27th. They set an “overweight” rating and a $10.00 price target on the stock. The Goldman Sachs Group cut Maravai LifeSciences from a “neutral” rating to a “sell” rating and dropped their target price for the company from $7.00 to $4.25 in a research report on Thursday, December 5th. William Blair reaffirmed a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Royal Bank of Canada dropped their price objective on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Finally, Robert W. Baird reduced their target price 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, five have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.28.

Maravai LifeSciences Trading Down 1.1 %

Shares of NASDAQ:MRVI opened at $5.37 on Thursday. The company has a market capitalization of $1.36 billion, a PE ratio of -3.27 and a beta of -0.08. Maravai LifeSciences has a 12-month low of $4.28 and a 12-month high of $11.56. The business has a 50 day moving average of $6.30 and a two-hundred day moving average of $7.63. 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 Buying and Selling

In other Maravai LifeSciences news, insider Carl Hull purchased 175,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were purchased at an average cost of $5.64 per share, for a total transaction of $987,000.00. Following the completion of the transaction, the insider now owns 175,000 shares of the company’s stock, valued at $987,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 0.63% of the stock is owned by company insiders.

Institutional Trading of Maravai LifeSciences

A number of hedge funds have recently bought and sold shares of the business. Creative Planning grew its position in shares of 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 purchasing an additional 1,881 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its holdings in Maravai LifeSciences by 0.7% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 519,890 shares of the company’s stock valued at $4,320,000 after buying an additional 3,725 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Maravai LifeSciences in the 2nd quarter worth $32,000. Liontrust Investment Partners LLP raised its holdings in shares of Maravai LifeSciences by 14.7% during the 2nd quarter. Liontrust Investment Partners LLP now owns 43,845 shares of the company’s stock worth $314,000 after acquiring an additional 5,628 shares during the period. Finally, Venturi Wealth Management LLC acquired a new position in shares of Maravai LifeSciences during the 3rd quarter valued at about $47,000. Institutional investors and hedge funds own 50.25% of the company’s stock.

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.