Maravai LifeSciences (NASDAQ:MRVI) Research Coverage Started at Guggenheim

Guggenheim initiated coverage on shares of Maravai LifeSciences (NASDAQ:MRVI) in a report issued on Thursday morning, Marketbeat Ratings reports. The brokerage issued a neutral rating on the stock.

Other research analysts have also issued reports about the company. The Goldman Sachs Group lowered Maravai LifeSciences from a “neutral” rating to a “sell” rating and cut their target price for the company from $7.00 to $4.25 in a research note on Thursday, December 5th. Wells Fargo & Company began coverage on shares of Maravai LifeSciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $10.00 target price on the stock. William Blair reissued a “market perform” rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. Royal Bank of Canada dropped their price objective on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Finally, Wolfe Research assumed coverage on shares of Maravai LifeSciences in a research note on Thursday, November 14th. They issued a “peer perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Maravai LifeSciences has an average rating of “Hold” and an average target price of $10.28.

Maravai LifeSciences Stock Down 1.1 %

Shares of MRVI opened at $5.37 on Thursday. Maravai LifeSciences has a 52 week low of $4.28 and a 52 week high of $11.56. The firm has a market capitalization of $1.36 billion, a P/E ratio of -3.27 and a beta of -0.08. The company has a 50-day simple moving average of $6.30 and a 200-day simple moving average of $7.63. 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 Transactions at Maravai LifeSciences

In other Maravai LifeSciences news, insider Carl Hull purchased 175,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average cost of $5.64 per share, with a total value of $987,000.00. Following the completion of the purchase, the insider now directly owns 175,000 shares in the company, valued at approximately $987,000. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.63% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Maravai LifeSciences

A number of institutional investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Maravai LifeSciences during the 2nd quarter worth $32,000. Venturi Wealth Management LLC acquired a new position in Maravai LifeSciences in the 3rd quarter worth $47,000. Blue Trust Inc. acquired a new stake in shares of Maravai LifeSciences in the 2nd quarter valued at about $44,000. Custom Index Systems LLC bought a new stake in shares of Maravai LifeSciences in the third quarter valued at about $97,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Maravai LifeSciences during the third quarter worth about $105,000. 50.25% of the stock is owned by institutional investors and hedge funds.

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.