Maravai LifeSciences (NASDAQ:MRVI) Stock Price Down 3.5% – Should You Sell?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price was down 3.5% during trading on Friday . The stock traded as low as $5.67 and last traded at $5.71. Approximately 220,684 shares changed hands during trading, a decline of 90% from the average daily volume of 2,255,906 shares. The stock had previously closed at $5.92.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MRVI shares. Morgan Stanley cut Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $11.00 to $10.00 in a research report on Tuesday, August 13th. Wells Fargo & Company initiated coverage on shares of Maravai LifeSciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price target on the stock. UBS Group lifted their target price on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Robert W. Baird reduced their price target on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Finally, Royal Bank of Canada lowered 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. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.33.

Maravai LifeSciences Trading Down 3.5 %

The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89. The company has a 50-day moving average of $7.16 and a two-hundred day moving average of $8.19.

Insiders Place Their Bets

In related news, insider Carl Hull bought 175,000 shares of the stock in a transaction dated Monday, November 11th. The shares were purchased at an average price of $5.64 per share, with a total value of $987,000.00. Following the completion of the acquisition, the insider now owns 175,000 shares of the company’s stock, valued at $987,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Maravai LifeSciences

Several large investors have recently made changes to their positions in MRVI. Quent Capital LLC boosted its position in shares of Maravai LifeSciences by 26,315.8% during the 1st quarter. Quent Capital LLC now owns 15,057 shares of the company’s stock valued at $131,000 after acquiring an additional 15,000 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Maravai LifeSciences by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 10,038,126 shares of the company’s stock valued at $87,031,000 after acquiring an additional 34,232 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Maravai LifeSciences by 5.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 73,595 shares of the company’s stock worth $639,000 after acquiring an additional 3,575 shares in the last quarter. GAMMA Investing LLC raised its position in Maravai LifeSciences by 310.2% during the second quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock valued at $26,000 after purchasing an additional 2,711 shares during the period. Finally, Blue Trust Inc. bought a new stake in shares of Maravai LifeSciences in the 2nd quarter valued at approximately $44,000. 50.25% of the stock is owned by institutional investors.

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.