Short Interest in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Rises By 20.6%

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) was the target of a large increase in short interest in February. As of February 15th, there was short interest totalling 10,300,000 shares, an increase of 20.6% from the January 31st total of 8,540,000 shares. Based on an average trading volume of 2,340,000 shares, the days-to-cover ratio is presently 4.4 days.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wolfe Research started coverage on shares of Maravai LifeSciences in a report on Thursday, November 14th. They issued a “peer perform” 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 company from $7.00 to $4.25 in a research note on Thursday, December 5th. Baird R W cut Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Bank of America decreased their target price on Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Finally, Royal Bank of Canada cut their price target 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, Maravai LifeSciences currently has a consensus rating of “Hold” and a consensus target price of $9.28.

Insider Transactions at Maravai LifeSciences

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the business’s 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 owns 167,618 shares in the company, valued at $843,118.54. The trade was a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Maravai LifeSciences

Large investors have recently modified their holdings of the stock. Alyeska Investment Group L.P. grew its position in Maravai LifeSciences by 145.8% in the 4th 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 boosted its holdings in shares of Maravai LifeSciences by 29.5% in 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. increased its stake in shares of Maravai LifeSciences by 4.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,250,656 shares of the company’s stock worth $23,166,000 after acquiring an additional 200,411 shares during the period. Ameriprise Financial Inc. raised its holdings in Maravai LifeSciences by 1.8% during the fourth quarter. Ameriprise Financial Inc. now owns 3,611,625 shares of the company’s stock worth $19,683,000 after purchasing an additional 62,123 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in Maravai LifeSciences by 0.3% in the fourth quarter. Jennison Associates LLC now owns 2,990,414 shares of the company’s stock valued at $16,298,000 after purchasing an additional 9,769 shares during the period. Hedge funds and other institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Stock Up 10.9 %

MRVI opened at $2.96 on Friday. Maravai LifeSciences has a 52 week low of $2.63 and a 52 week high of $11.56. The business has a 50 day moving average price of $4.64 and a two-hundred day moving average price of $6.32. 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 company has a market cap of $747.48 million, a PE ratio of -1.80 and a beta of -0.08.

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.