14. LIFE BELOW WATER

Short Interest in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Decreases By 8.1% – MarketBeat

Written by Amanda

Short Interest in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Decreases By 8.1%  MarketBeat

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVIGet Rating) saw a significant drop in short interest in August. As of August 31st, there was short interest totalling 5,430,000 shares, a drop of 8.1% from the August 15th total of 5,910,000 shares. Based on an average trading volume of 1,230,000 shares, the days-to-cover ratio is currently 4.4 days. Approximately 5.0% of the shares of the company are short sold.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Morgan Stanley reduced their price target on Maravai LifeSciences from $49.00 to $35.00 and set an “overweight” rating for the company in a research report on Monday, August 8th. The Goldman Sachs Group reduced their price target on Maravai LifeSciences from $44.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, July 14th. Robert W. Baird dropped their price objective on Maravai LifeSciences from $40.00 to $34.00 in a report on Friday, August 5th. Credit Suisse Group initiated coverage on Maravai LifeSciences in a report on Wednesday, August 24th. They issued an “outperform” rating and a $34.00 price objective on the stock. Finally, TheStreet lowered Maravai LifeSciences from a “c-” rating to a “d+” rating in a report on Tuesday, July 26th.

Hedge Funds Weigh In On Maravai LifeSciences

Institutional investors have recently bought and sold shares of the company. Zions Bancorporation N.A. purchased a new stake in shares of Maravai LifeSciences during the 1st quarter worth $28,000. SeaCrest Wealth Management LLC acquired a new position in shares of Maravai LifeSciences during the 2nd quarter worth approximately $32,000. C M Bidwell & Associates Ltd. purchased a new stake in Maravai LifeSciences in the 1st quarter worth approximately $38,000. Steward Partners Investment Advisory LLC grew its stake in Maravai LifeSciences by 6,670.0% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,354 shares of the company’s stock worth $38,000 after acquiring an additional 1,334 shares during the period. Finally, PenderFund Capital Management Ltd. purchased a new stake in Maravai LifeSciences in the 2nd quarter worth approximately $44,000. 51.02% of the stock is owned by institutional investors and hedge funds.

Maravai LifeSciences Stock Down 0.7 %

Shares of NASDAQ:MRVI opened at $23.14 on Tuesday. The firm has a 50 day simple moving average of $24.50 and a 200-day simple moving average of $29.92. The company has a market capitalization of $5.91 billion, a PE ratio of 13.77 and a beta of 0.72. Maravai LifeSciences has a twelve month low of $19.83 and a twelve month high of $50.18. The company has a current ratio of 6.75, a quick ratio of 6.21 and a debt-to-equity ratio of 0.68.

About Maravai LifeSciences

(Get Rating)

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.

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About the author

Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai

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