Maravai LifeSciences (NASDAQ:MRVI) Hits New 1-Year Low – Time to Sell?

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) hit a new 52-week low during trading on Wednesday . The company traded as low as $2.25 and last traded at $2.31, with a volume of 1169004 shares changing hands. The stock had previously closed at $2.58.

Analysts Set New Price Targets

A number of brokerages have commented on MRVI. Baird R W cut shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. The Goldman Sachs Group cut shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $7.00 to $4.25 in a research note on Thursday, December 5th. Guggenheim started coverage on shares of Maravai LifeSciences in a research note on Thursday, December 19th. They issued a “neutral” rating for the company. Bank of America reduced their price objective on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Finally, Robert W. Baird cut shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $9.00 to $3.00 in a research note 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 given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $9.28.

Maravai LifeSciences Trading Down 1.2 %

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 stock’s 50-day moving average is $4.01 and its two-hundred day moving average is $5.88. The stock has a market cap of $606.07 million, a P/E ratio of -1.46 and a beta of -0.08.

Insider Buying and Selling

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the stock in a transaction 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 completion of the transaction, the general counsel now 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On Maravai LifeSciences

Several institutional investors have recently bought and sold shares of MRVI. Victory Capital Management Inc. lifted its position in Maravai LifeSciences by 312.3% during the third 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. Thrivent Financial for Lutherans lifted 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 valued at $1,784,000 after purchasing an additional 26,885 shares during the last quarter. Intech Investment Management LLC bought a new position in Maravai LifeSciences during the third quarter valued at $200,000. Charles Schwab Investment Management Inc. lifted its position in Maravai LifeSciences by 6.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 946,576 shares of the company’s stock valued at $7,866,000 after purchasing an additional 56,071 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Maravai LifeSciences by 36.0% during the third quarter. The Manufacturers Life Insurance Company now owns 58,987 shares of the company’s stock valued at $490,000 after purchasing an additional 15,615 shares during the last quarter. 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.