Maravai LifeSciences (NASDAQ:MRVI) Downgraded by Robert W. Baird to “Neutral”

Maravai LifeSciences (NASDAQ:MRVI) was downgraded by Robert W. Baird from an “outperform” rating to a “neutral” rating in a research report issued on Wednesday,Briefing.com Automated Import reports. They currently have a $3.00 price objective on the stock, down from their previous price objective of $9.00. Robert W. Baird’s target price suggests a potential downside of 4.46% from the company’s previous close.

MRVI has been the subject of several other research reports. Guggenheim started coverage on shares of Maravai LifeSciences in a research report on Thursday, December 19th. They set a “neutral” rating for the company. 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 report on Thursday, December 5th. Royal Bank of Canada cut their price target on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Wolfe Research initiated coverage on Maravai LifeSciences in a report on Thursday, November 14th. They issued a “peer perform” rating for the company. Finally, William Blair reissued a “market perform” rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Maravai LifeSciences presently has a consensus rating of “Hold” and an average price target of $9.46.

Maravai LifeSciences Price Performance

Maravai LifeSciences stock opened at $3.14 on Wednesday. The business’s 50-day simple moving average is $4.98 and its 200 day simple moving average is $6.57. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89. The stock has a market cap of $792.94 million, a price-to-earnings ratio of -1.91 and a beta of -0.08. Maravai LifeSciences has a 12-month low of $2.93 and a 12-month high of $11.56.

Insiders Place Their Bets

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $5.03, for a total transaction of $125,750.00. Following the sale, the general counsel now directly owns 167,618 shares in the company, valued at approximately $843,118.54. This trade represents a 12.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Maravai LifeSciences

Several large investors have recently made changes to their positions in MRVI. Creative Planning boosted its stake in Maravai LifeSciences by 4.4% in the 3rd quarter. Creative Planning now owns 44,943 shares of the company’s stock worth $373,000 after purchasing an additional 1,881 shares during the period. SG Americas Securities LLC increased its stake in Maravai LifeSciences by 7.3% in the 4th quarter. SG Americas Securities LLC now owns 33,046 shares of the company’s stock valued at $180,000 after buying an additional 2,239 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Maravai LifeSciences by 10.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 30,076 shares of the company’s stock valued at $164,000 after acquiring an additional 2,851 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its holdings in shares of 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 during the last quarter. Finally, Performa Ltd US LLC grew its position in shares of Maravai LifeSciences by 614.3% in the 4th quarter. Performa Ltd US LLC now owns 5,000 shares of the company’s stock valued at $27,000 after acquiring an additional 4,300 shares during the period. Institutional investors own 50.25% of the company’s stock.

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.