Maravai LifeSciences (NASDAQ:MRVI) Coverage Initiated by Analysts at Guggenheim

Guggenheim began coverage on shares of Maravai LifeSciences (NASDAQ:MRVI) in a research report report published on Thursday, MarketBeat Ratings reports. The brokerage issued a neutral rating on the stock.

A number of other research firms also recently weighed in on MRVI. Royal Bank of Canada cut their target price 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. Wolfe Research assumed coverage on shares of Maravai LifeSciences in a research report on Thursday, November 14th. They set a “peer perform” rating on the stock. The Goldman Sachs Group cut Maravai LifeSciences from a “neutral” rating to a “sell” rating and cut their target price for the stock from $7.00 to $4.25 in a research note on Thursday, December 5th. William Blair reissued a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Finally, Robert W. Baird reduced their price objective on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Maravai LifeSciences presently has an average rating of “Hold” and a consensus price target of $10.28.

Maravai LifeSciences Stock Down 1.1 %

MRVI opened at $5.37 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. The stock has a fifty day moving average of $6.30 and a 200-day moving average of $7.63. Maravai LifeSciences has a fifty-two week low of $4.28 and a fifty-two week high of $11.56. The company has a market capitalization of $1.36 billion, a P/E ratio of -3.27 and a beta of -0.08.

Insider Buying and Selling

In related news, insider Carl Hull acquired 175,000 shares of the stock in a transaction dated Monday, November 11th. The stock was bought at an average price of $5.64 per share, for a total transaction of $987,000.00. Following the purchase, the insider now directly 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Maravai LifeSciences

A number of institutional investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Maravai LifeSciences during the 2nd quarter valued at $32,000. Blue Trust Inc. acquired a new stake in shares of Maravai LifeSciences in the 2nd quarter worth about $44,000. Venturi Wealth Management LLC bought a new position in Maravai LifeSciences in the 3rd quarter valued at about $47,000. Custom Index Systems LLC acquired a new position in Maravai LifeSciences during the 3rd quarter valued at about $97,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Maravai LifeSciences during the 3rd quarter worth approximately $105,000. 50.25% of the stock is 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.