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

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) was the target of a large growth in short interest in February. As of February 15th, there was short interest totalling 10,300,000 shares, a growth 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 currently 4.4 days.

Insider Transactions at Maravai LifeSciences

In related news, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences 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. The trade was a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Maravai LifeSciences

Several institutional investors have recently added to or reduced their stakes in MRVI. Alyeska Investment Group L.P. grew its holdings 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 period. Massachusetts Financial Services Co. MA boosted its position 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 worth $25,420,000 after acquiring an additional 1,062,485 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Maravai LifeSciences by 4.9% in the fourth 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. increased its position 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 during the last quarter. Finally, Jennison Associates LLC raised its stake 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 during the period. 50.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MRVI. The Goldman Sachs Group downgraded Maravai LifeSciences from a “neutral” rating to a “sell” rating and cut their price target for the stock from $7.00 to $4.25 in a research note on Thursday, December 5th. Royal Bank of Canada reduced their price target on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. William Blair reissued a “market perform” rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. Baird R W downgraded Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, Wolfe Research began coverage on Maravai LifeSciences in a report on Thursday, November 14th. They set a “peer perform” rating on the stock. One 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 stock presently has an average rating of “Hold” and a consensus target price of $9.28.

Maravai LifeSciences Trading Up 10.9 %

Shares of MRVI opened at $2.96 on Friday. Maravai LifeSciences has a fifty-two week low of $2.63 and a fifty-two week high of $11.56. The stock has a fifty day moving average of $4.64 and a two-hundred day moving average of $6.32. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. The company has a market capitalization 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.