Baird R W Downgrades Maravai LifeSciences (NASDAQ:MRVI) to Hold

Baird R W cut shares of Maravai LifeSciences (NASDAQ:MRVI) from a strong-buy rating to a hold rating in a report released on Wednesday morning,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Wolfe Research began coverage on shares of Maravai LifeSciences in a research report on Thursday, November 14th. They issued a “peer perform” rating on the stock. William Blair restated a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Guggenheim started coverage on Maravai LifeSciences in a report on Thursday, December 19th. They issued a “neutral” rating for the company. Royal Bank of Canada cut their price objective 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. Finally, Robert W. Baird downgraded Maravai LifeSciences from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $9.00 to $3.00 in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $9.46.

Maravai LifeSciences Stock Up 3.5 %

Shares of NASDAQ MRVI opened at $3.25 on Wednesday. The firm’s fifty day moving average is $4.93 and its 200 day moving average is $6.55. Maravai LifeSciences has a 52 week low of $2.93 and a 52 week high of $11.56. 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 $820.72 million, a price-to-earnings ratio of -1.98 and a beta of -0.08.

Insider Activity

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 value of $125,750.00. Following the completion of the transaction, the general counsel now owns 167,618 shares in the company, valued at approximately $843,118.54. This represents a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.63% of the stock is currently owned by company insiders.

Institutional Trading of Maravai LifeSciences

Hedge funds have recently modified their holdings of the business. Creative Planning increased its stake in shares of Maravai LifeSciences by 4.4% in the 3rd quarter. Creative Planning now owns 44,943 shares of the company’s stock worth $373,000 after acquiring an additional 1,881 shares in the last quarter. SG Americas Securities LLC grew 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 worth $180,000 after purchasing an additional 2,239 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Maravai LifeSciences by 10.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 30,076 shares of the company’s stock valued at $164,000 after purchasing an additional 2,851 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its holdings in shares of Maravai LifeSciences by 0.7% during the third quarter. Kornitzer Capital Management Inc. KS now owns 519,890 shares of the company’s stock valued at $4,320,000 after purchasing an additional 3,725 shares during the last quarter. Finally, Performa Ltd US LLC boosted its position in shares of Maravai LifeSciences by 614.3% in the 4th quarter. Performa Ltd US LLC now owns 5,000 shares of the company’s stock worth $27,000 after purchasing an additional 4,300 shares in the last quarter. Institutional investors own 50.25% of the company’s stock.

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.