Maravai LifeSciences (NASDAQ:MRVI) Rating Lowered to Sell at The Goldman Sachs Group

Maravai LifeSciences (NASDAQ:MRVI) was downgraded by The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a note issued to investors on Thursday,Finviz reports. They presently have a $4.25 price objective on the stock. The Goldman Sachs Group’s price target would suggest a potential downside of 21.44% from the stock’s current price.

Several other equities analysts have also recently weighed in on the stock. Wolfe Research initiated coverage on shares of Maravai LifeSciences in a research note on Thursday, November 14th. They issued a “peer perform” rating on the stock. Morgan Stanley lowered shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $11.00 to $10.00 in a report on Tuesday, August 13th. Royal Bank of Canada reduced their target price on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, November 8th. UBS Group increased their target price on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, William Blair reissued a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $10.03.

Maravai LifeSciences Price Performance

Shares of NASDAQ:MRVI opened at $5.41 on Thursday. The firm’s 50 day moving average price is $6.93 and its 200-day moving average price is $8.02. Maravai LifeSciences has a twelve month low of $4.28 and a twelve month high of $11.56. 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 capitalization of $1.37 billion, a PE ratio of -3.30 and a beta of -0.08.

Insider Activity at Maravai LifeSciences

In other Maravai LifeSciences news, insider Carl Hull bought 175,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average cost of $5.64 per share, with a total value of $987,000.00. Following the completion of the acquisition, the insider now owns 175,000 shares in the company, valued at $987,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.63% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MRVI. GAMMA Investing LLC grew its holdings in shares of Maravai LifeSciences by 310.2% in the second quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock valued at $26,000 after purchasing an additional 2,711 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Maravai LifeSciences in the second quarter worth $32,000. Blue Trust Inc. bought a new stake in Maravai LifeSciences in the second quarter worth $44,000. Venturi Wealth Management LLC bought a new stake in Maravai LifeSciences in the third quarter worth $47,000. Finally, Custom Index Systems LLC bought a new stake in Maravai LifeSciences in the third quarter worth $97,000. 50.25% of the stock is owned by hedge funds and other 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.