Maravai LifeSciences (NASDAQ:MRVI) Trading Down 6.3% – Time to Sell?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) dropped 6.3% during trading on Tuesday . The stock traded as low as $2.49 and last traded at $2.48. Approximately 585,612 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 2,213,341 shares. The stock had previously closed at $2.64.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MRVI shares. Baird R W cut Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Robert W. Baird lowered shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $9.00 to $3.00 in a report on Wednesday, February 26th. Guggenheim assumed coverage on shares of Maravai LifeSciences in a report on Thursday, December 19th. They issued a “neutral” rating for the company. Bank of America decreased their price target on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Finally, The Goldman Sachs Group lowered Maravai LifeSciences from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $7.00 to $4.25 in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Maravai LifeSciences presently has a consensus rating of “Hold” and an average price target of $9.28.

Maravai LifeSciences Trading Down 0.6 %

The stock has a 50 day moving average of $4.23 and a 200 day moving average of $5.97. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. The firm has a market cap of $662.89 million, a P/E ratio of -1.60 and a beta of -0.08.

Insider Activity

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $5.03, for a total value of $125,750.00. Following the completion of the sale, the general counsel now owns 167,618 shares of the company’s stock, valued at $843,118.54. This represents a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Maravai LifeSciences

Hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. grew its holdings in shares of Maravai LifeSciences by 312.3% during the 3rd quarter. Victory Capital Management Inc. now owns 58,327 shares of the company’s stock valued at $485,000 after purchasing an additional 44,180 shares during the last quarter. Royce & Associates LP grew its stake in shares of Maravai LifeSciences by 130.4% during the third quarter. Royce & Associates LP now owns 908,778 shares of the company’s stock valued at $7,552,000 after buying an additional 514,332 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Maravai LifeSciences by 14.3% in the third quarter. Thrivent Financial for Lutherans now owns 214,645 shares of the company’s stock worth $1,784,000 after buying an additional 26,885 shares during the period. Intech Investment Management LLC bought a new stake in shares of Maravai LifeSciences in the 3rd quarter valued at about $200,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Maravai LifeSciences by 6.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 946,576 shares of the company’s stock valued at $7,866,000 after acquiring an additional 56,071 shares during the period. 50.25% of the stock is currently owned by institutional investors.

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.