Bank of America Lowers Maravai LifeSciences (NASDAQ:MRVI) Price Target to $8.00

Maravai LifeSciences (NASDAQ:MRVI) had its price objective decreased by research analysts at Bank of America from $9.00 to $8.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price objective would indicate a potential upside of 148.45% from the stock’s previous close.

Several other brokerages have also recently weighed in on MRVI. Baird R W cut Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Robert W. Baird lowered shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $9.00 to $3.00 in a research report on Wednesday, February 26th. Wolfe Research began coverage on shares of Maravai LifeSciences in a research report on Thursday, November 14th. They issued a “peer perform” rating for the company. Royal Bank of Canada dropped their target price on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Finally, William Blair restated a “market perform” rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $9.28.

Maravai LifeSciences Stock Up 5.6 %

MRVI stock opened at $3.22 on Monday. The firm has a market capitalization of $813.14 million, a PE ratio of -1.96 and a beta of -0.08. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89. Maravai LifeSciences has a twelve month low of $2.93 and a twelve month high of $11.56. The stock’s 50 day moving average is $4.84 and its 200-day moving average is $6.46.

Insider Transactions at Maravai LifeSciences

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the stock in a transaction 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.63% of the stock is currently owned by company insiders.

Institutional Trading of Maravai LifeSciences

Several hedge funds have recently made changes to their positions in the company. Delta Investment Management LLC increased its holdings in Maravai LifeSciences by 285.4% in the 4th quarter. Delta Investment Management LLC now owns 332,993 shares of the company’s stock worth $1,815,000 after acquiring an additional 246,592 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Maravai LifeSciences by 22.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 251,214 shares of the company’s stock worth $1,369,000 after purchasing an additional 45,454 shares during the period. Systematic Financial Management LP increased its stake in shares of Maravai LifeSciences by 2.3% in the fourth quarter. Systematic Financial Management LP now owns 1,649,544 shares of the company’s stock worth $8,990,000 after purchasing an additional 37,383 shares in the last quarter. Sherbrooke Park Advisers LLC bought a new stake in shares of Maravai LifeSciences in the fourth quarter valued at approximately $78,000. Finally, ProShare Advisors LLC lifted its stake in shares of Maravai LifeSciences by 89.8% during the 4th quarter. ProShare Advisors LLC now owns 55,488 shares of the company’s stock valued at $302,000 after buying an additional 26,251 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.