Bank of America Issues Pessimistic Forecast for Maravai LifeSciences (NASDAQ:MRVI) Stock Price

Maravai LifeSciences (NASDAQ:MRVI) had its target price cut by stock analysts at Bank of America from $9.00 to $8.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s target price would indicate a potential upside of 148.45% from the stock’s current price.

A number of other equities analysts have also commented on the stock. William Blair reissued a “market perform” rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. The Goldman Sachs Group lowered Maravai LifeSciences from a “neutral” rating to a “sell” rating and reduced their price target for the company from $7.00 to $4.25 in a research report on Thursday, December 5th. Baird R W cut Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Royal Bank of Canada cut their price objective on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Finally, Wolfe Research started coverage on shares of Maravai LifeSciences in a research report on Thursday, November 14th. They set a “peer perform” rating for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.28.

Maravai LifeSciences Stock Up 5.6 %

Shares of NASDAQ MRVI opened at $3.22 on Monday. Maravai LifeSciences has a 1 year low of $2.93 and a 1 year high of $11.56. 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 firm has a market cap of $813.14 million, a PE ratio of -1.96 and a beta of -0.08. The company has a 50 day simple moving average of $4.84 and a 200 day simple moving average of $6.46.

Insiders Place Their Bets

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the company’s 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 transaction, the general counsel now owns 167,618 shares in the company, valued at approximately $843,118.54. This represents a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.63% of the company’s stock.

Institutional Trading of Maravai LifeSciences

Several large investors have recently made changes to their positions in MRVI. Performa Ltd US LLC boosted its holdings in Maravai LifeSciences by 614.3% in the fourth quarter. Performa Ltd US LLC now owns 5,000 shares of the company’s stock worth $27,000 after acquiring an additional 4,300 shares in the last quarter. FNY Investment Advisers LLC raised its position in shares of Maravai LifeSciences by 600.0% during the fourth quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock worth $38,000 after purchasing an additional 6,000 shares during the period. Venturi Wealth Management LLC bought a new position in shares of Maravai LifeSciences in the 3rd quarter worth $47,000. Farther Finance Advisors LLC grew its position in Maravai LifeSciences by 3,541.4% in the 4th quarter. Farther Finance Advisors LLC now owns 10,196 shares of the company’s stock valued at $56,000 after purchasing an additional 9,916 shares during the period. Finally, Cibc World Markets Corp bought a new stake in Maravai LifeSciences during the 4th quarter valued at $56,000. 50.25% of the stock is currently owned by institutional investors and hedge funds.

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.