Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Short Interest Down 14.4% in February

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) was the recipient of a significant decline in short interest in February. As of February 28th, there was short interest totalling 8,820,000 shares, a decline of 14.4% from the February 13th total of 10,300,000 shares. Based on an average daily volume of 2,640,000 shares, the short-interest ratio is presently 3.3 days. Currently, 3.5% of the company’s stock are short sold.

Maravai LifeSciences Price Performance

Shares of NASDAQ MRVI traded down $0.06 during trading on Thursday, hitting $2.38. 871,811 shares of the company were exchanged, compared to its average volume of 3,089,368. The firm’s fifty day moving average price is $4.09 and its 200 day moving average price is $5.90. 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 company has a market cap of $599.75 million, a price-to-earnings ratio of -1.45 and a beta of -0.08. Maravai LifeSciences has a 1 year low of $2.25 and a 1 year high of $11.56.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the firm’s stock in a transaction 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 sale, the general counsel now directly owns 167,618 shares in the company, valued at $843,118.54. This trade represents a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.63% of the company’s stock.

Institutional Trading of Maravai LifeSciences

A number of institutional investors have recently added to or reduced their stakes in MRVI. Victory Capital Management Inc. lifted its position 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 acquiring an additional 44,180 shares during the period. Thrivent Financial for Lutherans boosted its position in Maravai LifeSciences by 14.3% during the third quarter. Thrivent Financial for Lutherans now owns 214,645 shares of the company’s stock worth $1,784,000 after purchasing an additional 26,885 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Maravai LifeSciences in the third quarter valued at $200,000. Charles Schwab Investment Management Inc. increased its position in shares of Maravai LifeSciences by 6.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 946,576 shares of the company’s stock valued at $7,866,000 after buying an additional 56,071 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Maravai LifeSciences by 36.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 58,987 shares of the company’s stock worth $490,000 after buying an additional 15,615 shares in the last quarter. Hedge funds and other institutional investors 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.