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

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

Maravai LifeSciences Stock Performance

MRVI stock traded down $0.05 during midday trading on Tuesday, reaching $2.16. 2,863,732 shares of the company’s stock traded hands, compared to its average volume of 2,333,035. The firm has a market capitalization of $549.37 million, a PE ratio of -1.32 and a beta of -0.08. The company has a 50-day moving average price of $3.61 and a two-hundred day moving average price of $5.48. Maravai LifeSciences has a 52 week low of $2.07 and a 52 week high of $11.56. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74.

Analyst Ratings Changes

A number of brokerages have issued reports on MRVI. Guggenheim began coverage on Maravai LifeSciences in a research note on Thursday, December 19th. They issued a “neutral” rating for the company. The Goldman Sachs Group downgraded shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $7.00 to $4.25 in a report on Thursday, December 5th. Bank of America dropped their target price on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Baird R W downgraded shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, Robert W. Baird cut shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $9.00 to $3.00 in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $7.31.

Insider Activity

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was 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 trade represents a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.63% of the stock is currently owned by corporate insiders.

Institutional Trading of Maravai LifeSciences

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings 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 valued at $33,658,000 after buying an additional 3,731,924 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in 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 acquiring an additional 3,161,072 shares in the last quarter. Marshall Wace LLP grew its stake in Maravai LifeSciences by 17,912.9% during the fourth quarter. Marshall Wace LLP now owns 2,778,497 shares of the company’s stock valued at $15,143,000 after acquiring an additional 2,763,072 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Maravai LifeSciences during the 3rd quarter worth approximately $22,108,000. Finally, Massachusetts Financial Services Co. MA lifted its stake 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 purchasing an additional 1,062,485 shares in the last quarter. 50.25% of the stock is currently owned by institutional investors.

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.