Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Get Free Report) traded down 4.7% during trading on Monday after Stifel Nicolaus lowered their price target on the stock from $11.00 to $10.00. Stifel Nicolaus currently has a buy rating on the stock. Maravai LifeSciences traded as low as $7.81 and last traded at $7.97. 759,382 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 2,660,691 shares. The stock had previously closed at $8.36.
Several other research analysts have also recently issued reports on the stock. The Goldman Sachs Group decreased their price objective on shares of Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, November 9th. Morgan Stanley decreased their price objective on shares of Maravai LifeSciences from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Thursday, November 9th. Finally, Bank of America upgraded shares of Maravai LifeSciences from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $10.00 to $8.00 in a report on Tuesday, December 12th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.13.
Institutional Trading of Maravai LifeSciences
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its position in shares of Maravai LifeSciences by 1.5% in the 1st quarter. Bank of New York Mellon Corp now owns 416,617 shares of the company’s stock valued at $14,694,000 after acquiring an additional 6,339 shares in the last quarter. Bank of Montreal Can lifted its position in Maravai LifeSciences by 13.6% in the 1st quarter. Bank of Montreal Can now owns 16,563 shares of the company’s stock worth $591,000 after buying an additional 1,986 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in Maravai LifeSciences in the 1st quarter worth approximately $250,000. Dimensional Fund Advisors LP lifted its position in Maravai LifeSciences by 534.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 117,159 shares of the company’s stock worth $4,133,000 after buying an additional 98,698 shares in the last quarter. Finally, Sei Investments Co. lifted its position in Maravai LifeSciences by 7.5% in the 1st quarter. Sei Investments Co. now owns 159,229 shares of the company’s stock worth $5,554,000 after buying an additional 11,079 shares in the last quarter. 50.25% of the stock is owned by institutional investors and hedge funds.
Maravai LifeSciences Price Performance
The company has a debt-to-equity ratio of 0.62, a current ratio of 8.96 and a quick ratio of 8.33. The business’s 50-day simple moving average is $6.13 and its 200-day simple moving average is $7.31.
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 in the United States and internationally. 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.