Guggenheim Initiates Coverage on Maravai LifeSciences (NASDAQ:MRVI)

Equities researchers at Guggenheim initiated coverage on shares of Maravai LifeSciences (NASDAQ:MRVI) in a research report issued on Thursday, MarketBeat Ratings reports. The brokerage set a “neutral” rating on the stock.

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

Maravai LifeSciences Trading Down 3.8 %

MRVI stock opened at $5.58 on Thursday. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89. Maravai LifeSciences has a 52-week low of $4.28 and a 52-week high of $11.56. The company’s 50-day simple moving average is $6.39 and its 200-day simple moving average is $7.67. The firm has a market cap of $1.41 billion, a P/E ratio of -3.40 and a beta of -0.08.

Insider Buying and Selling

In other news, insider Carl Hull purchased 175,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was acquired at an average price of $5.64 per share, with a total value of $987,000.00. Following 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 filing with the SEC, which is available at the SEC website. 0.63% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

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.