Maravai LifeSciences (NASDAQ:MRVI) Hits New 52-Week Low – What’s Next?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $4.05 and last traded at $4.18, with a volume of 107889 shares. The stock had previously closed at $4.10.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MRVI. Royal Bank of Canada cut their price objective on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Guggenheim initiated coverage on Maravai LifeSciences in a report on Thursday, December 19th. They issued a “neutral” rating on the stock. Robert W. Baird decreased their target price on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Wolfe Research assumed coverage on Maravai LifeSciences in a research report on Thursday, November 14th. They issued a “peer perform” rating for the company. Finally, William Blair reaffirmed a “market perform” rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $10.28.

Maravai LifeSciences Stock Up 1.8 %

The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89. The business has a 50-day moving average price of $5.16 and a 200-day moving average price of $6.75. The firm has a market cap of $1.05 billion, a P/E ratio of -2.55 and a beta of -0.08.

Insider Activity

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the stock in a transaction dated 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 sale, the general counsel now directly owns 167,618 shares of the company’s stock, valued at approximately $843,118.54. This represents a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Maravai LifeSciences

Several hedge funds have recently modified their holdings of MRVI. Alyeska Investment Group L.P. grew its holdings in shares of Maravai LifeSciences by 145.8% during the fourth quarter. Alyeska Investment Group L.P. now owns 5,329,420 shares of the company’s stock valued at $29,045,000 after buying an additional 3,161,072 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Maravai LifeSciences by 29.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,664,210 shares of the company’s stock valued at $25,420,000 after acquiring an additional 1,062,485 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Maravai LifeSciences by 4.9% in the 4th quarter. JPMorgan Chase & Co. now owns 4,250,656 shares of the company’s stock valued at $23,166,000 after purchasing an additional 200,411 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Maravai LifeSciences by 1.8% during the 4th quarter. Ameriprise Financial Inc. now owns 3,611,625 shares of the company’s stock worth $19,683,000 after acquiring an additional 62,123 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in Maravai LifeSciences by 0.3% during the fourth quarter. Jennison Associates LLC now owns 2,990,414 shares of the company’s stock worth $16,298,000 after purchasing an additional 9,769 shares in the last quarter. Institutional investors and hedge funds 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.