Maravai LifeSciences (NASDAQ:MRVI) Given New $8.00 Price Target at Bank of America

Maravai LifeSciences (NASDAQ:MRVI) had its target price reduced by Bank of America from $9.00 to $8.00 in a report published on Monday,Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other brokerages have also recently weighed in on MRVI. Royal Bank of Canada dropped 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. The Goldman Sachs Group cut Maravai LifeSciences from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $7.00 to $4.25 in a research note on Thursday, December 5th. Guggenheim assumed coverage on Maravai LifeSciences in a research note on Thursday, December 19th. They issued a “neutral” rating on the stock. Wolfe Research assumed coverage on Maravai LifeSciences in a research report on Thursday, November 14th. They set a “peer perform” rating for the company. Finally, Baird R W lowered Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $9.28.

Maravai LifeSciences Trading Down 1.1 %

Shares of MRVI opened at $2.81 on Monday. The business’s 50-day moving average price is $4.70 and its 200 day moving average price is $6.35. The stock has a market capitalization of $709.60 million, a P/E ratio of -1.71 and a beta of -0.08. Maravai LifeSciences has a 1-year low of $2.72 and a 1-year 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

In other news, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences stock in a transaction dated 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. The trade was a 12.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.63% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Maravai LifeSciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Performa Ltd US LLC lifted its holdings in Maravai LifeSciences by 614.3% in the 4th quarter. Performa Ltd US LLC now owns 5,000 shares of the company’s stock worth $27,000 after purchasing an additional 4,300 shares during the last quarter. FNY Investment Advisers LLC lifted its holdings in Maravai LifeSciences by 600.0% in the 4th quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock worth $38,000 after purchasing an additional 6,000 shares during the last quarter. Venturi Wealth Management LLC bought a new position in Maravai LifeSciences in the 3rd quarter worth approximately $47,000. Farther Finance Advisors LLC increased its position in Maravai LifeSciences by 3,541.4% in the 4th quarter. Farther Finance Advisors LLC now owns 10,196 shares of the company’s stock worth $56,000 after buying an additional 9,916 shares during the period. Finally, Cibc World Markets Corp bought a new position in Maravai LifeSciences in the 4th quarter worth approximately $56,000. 50.25% of the stock is currently owned by institutional investors and hedge funds.

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.