Short Interest in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Expands By 31.5%

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) was the recipient of a significant growth in short interest in March. As of March 15th, there was short interest totalling 11,600,000 shares, a growth of 31.5% from the February 28th total of 8,820,000 shares. Based on an average daily volume of 3,070,000 shares, the days-to-cover ratio is presently 3.8 days. Approximately 4.6% of the company’s stock are sold short.

Insider Activity at Maravai LifeSciences

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the business’s 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 sale, the general counsel now directly owns 167,618 shares in the company, valued at approximately $843,118.54. The trade was a 12.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.63% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Maravai LifeSciences

A number of institutional investors have recently modified their holdings of MRVI. JPMorgan Chase & Co. raised its stake in Maravai LifeSciences by 1,172.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company’s stock worth $33,658,000 after buying an additional 3,731,924 shares during the period. Alyeska Investment Group L.P. grew its position in shares of Maravai LifeSciences by 145.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 5,329,420 shares of the company’s stock valued at $29,045,000 after acquiring an additional 3,161,072 shares during the period. Marshall Wace LLP raised its stake in shares of Maravai LifeSciences by 17,912.9% in the fourth quarter. Marshall Wace LLP now owns 2,778,497 shares of the company’s stock valued at $15,143,000 after buying an additional 2,763,072 shares during the period. Point72 DIFC Ltd purchased a new stake in Maravai LifeSciences during the third quarter valued at about $22,108,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Maravai LifeSciences by 29.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,664,210 shares of the company’s stock worth $25,420,000 after buying an additional 1,062,485 shares during the period. 50.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MRVI has been the subject of several recent analyst reports. Guggenheim initiated coverage on Maravai LifeSciences in a report on Thursday, December 19th. They issued a “neutral” rating for the company. Stifel Nicolaus set a $5.00 price target on shares of Maravai LifeSciences in a report on Friday, March 21st. The Goldman Sachs Group lowered Maravai LifeSciences from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $7.00 to $4.25 in a research report on Thursday, December 5th. Morgan Stanley reduced their target price on shares of Maravai LifeSciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 25th. Finally, UBS Group cut their price objective on Maravai LifeSciences from $8.00 to $2.50 and set a “neutral” rating for the company in a report on Friday, March 21st. One 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 stock currently has a consensus rating of “Hold” and a consensus target price of $7.31.

Maravai LifeSciences Price Performance

Shares of NASDAQ MRVI traded down $0.15 during midday trading on Monday, reaching $2.21. 3,083,774 shares of the company were exchanged, compared to its average volume of 2,328,979. 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 $562.08 million, a P/E ratio of -1.35 and a beta of -0.08. Maravai LifeSciences has a one year low of $2.07 and a one year high of $11.56. The stock’s 50-day moving average price is $3.73 and its 200-day moving average price is $5.56.

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.