Maravai LifeSciences (NASDAQ:MRVI) Sets New 52-Week Low – Here’s What Happened

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price hit a new 52-week low on Wednesday . The stock traded as low as $2.60 and last traded at $2.62, with a volume of 1369526 shares changing hands. The stock had previously closed at $2.64.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MRVI shares. Guggenheim initiated coverage on Maravai LifeSciences in a research report on Thursday, December 19th. They issued a “neutral” rating on the stock. Bank of America decreased their price target on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. The Goldman Sachs Group cut shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and reduced their target price for the company from $7.00 to $4.25 in a research note on Thursday, December 5th. Robert W. Baird lowered Maravai LifeSciences from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $9.00 to $3.00 in a research note on Wednesday, February 26th. Finally, Wolfe Research began coverage on shares of Maravai LifeSciences in a research note on Thursday, November 14th. They set a “peer perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $9.28.

Maravai LifeSciences Stock Performance

The stock has a 50-day moving average of $4.48 and a 200 day moving average of $6.16. The firm has a market capitalization of $659.10 million, a P/E ratio of -1.59 and a beta of -0.08. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74.

Insider Activity at Maravai LifeSciences

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $5.03, for a total value of $125,750.00. Following the completion of the sale, the general counsel now owns 167,618 shares of the company’s stock, valued at $843,118.54. This trade represents a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.63% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC boosted its holdings in Maravai LifeSciences by 7.3% in the fourth quarter. SG Americas Securities LLC now owns 33,046 shares of the company’s stock valued at $180,000 after acquiring an additional 2,239 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Maravai LifeSciences by 10.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 30,076 shares of the company’s stock worth $164,000 after buying an additional 2,851 shares during the period. Performa Ltd US LLC grew its position in shares of Maravai LifeSciences by 614.3% during the 4th quarter. Performa Ltd US LLC now owns 5,000 shares of the company’s stock worth $27,000 after buying an additional 4,300 shares during the period. Venturi Wealth Management LLC bought a new stake in shares of Maravai LifeSciences during the third quarter worth approximately $47,000. Finally, FNY Investment Advisers LLC lifted its holdings in Maravai LifeSciences by 600.0% in the fourth quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock valued at $38,000 after buying an additional 6,000 shares during the period. 50.25% of the stock is currently owned by institutional investors.

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.