Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Receives Average Rating of “Hold” from Brokerages

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) has earned an average recommendation of “Hold” from the eleven research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $10.28.

MRVI has been the subject of several research reports. Wolfe Research initiated coverage on Maravai LifeSciences in a research report on Thursday, November 14th. They set a “peer perform” rating for the company. Royal Bank of Canada reduced their price objective on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. The Goldman Sachs Group cut Maravai LifeSciences from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $7.00 to $4.25 in a research report on Thursday, December 5th. Wells Fargo & Company initiated coverage on shares of Maravai LifeSciences in a report on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 target price on the stock. Finally, Robert W. Baird cut their price objective on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday, November 8th.

Insider Activity at Maravai LifeSciences

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

Hedge Funds Weigh In On Maravai LifeSciences

Large investors have recently modified their holdings of the company. Millennium Management LLC increased its position in Maravai LifeSciences by 12.3% during the 2nd quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock worth $42,735,000 after purchasing an additional 653,639 shares in the last quarter. Mackenzie Financial Corp grew its stake in Maravai LifeSciences by 16.8% during the second quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock worth $41,962,000 after buying an additional 844,325 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Maravai LifeSciences by 15.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,550,503 shares of the company’s stock worth $32,582,000 after acquiring an additional 598,530 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Maravai LifeSciences by 20.8% in the 2nd quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock valued at $27,791,000 after acquiring an additional 668,552 shares during the period. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Maravai LifeSciences by 149.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,519,561 shares of the company’s stock valued at $25,200,000 after acquiring an additional 2,109,199 shares in the last quarter. 50.25% of the stock is currently owned by hedge funds and other institutional investors.

Maravai LifeSciences Stock Performance

Shares of MRVI opened at $5.13 on Tuesday. The company has a 50-day moving average of $6.30 and a two-hundred day moving average of $7.62. The stock has a market cap of $1.30 billion, a P/E ratio of -3.13 and a beta of -0.08. Maravai LifeSciences has a 12-month low of $4.28 and a 12-month high of $11.56. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89.

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.