Maravai LifeSciences (NASDAQ:MRVI) Trading Up 3.8% – What’s Next?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) shares rose 3.8% on Tuesday . The company traded as high as $5.87 and last traded at $5.79. Approximately 306,175 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 2,216,026 shares. The stock had previously closed at $5.58.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MRVI shares. William Blair reissued a “market perform” rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. Robert W. Baird lowered their target price on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Guggenheim began coverage on Maravai LifeSciences in a report on Thursday. They issued a “neutral” rating on the stock. Royal Bank of Canada reduced their price objective on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Finally, The Goldman Sachs Group lowered Maravai LifeSciences from a “neutral” rating to a “sell” rating and dropped their target price for the company from $7.00 to $4.25 in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $10.28.

Maravai LifeSciences Price Performance

The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -3.40 and a beta of -0.08. The company has a 50-day simple moving average of $6.39 and a two-hundred day simple moving average of $7.67. 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 Activity

In related news, insider Carl Hull acquired 175,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were bought at an average cost of $5.64 per share, with a total value of $987,000.00. Following the completion of the transaction, the insider now directly owns 175,000 shares of the company’s stock, valued at $987,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.63% of the company’s stock.

Institutional Trading of Maravai LifeSciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Maravai LifeSciences during the second quarter worth approximately $32,000. Blue Trust Inc. bought a new position in shares of Maravai LifeSciences during the second quarter worth approximately $44,000. Venturi Wealth Management LLC acquired a new position in Maravai LifeSciences in the 3rd quarter valued at $47,000. Custom Index Systems LLC bought a new position in Maravai LifeSciences during the 3rd quarter worth $97,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Maravai LifeSciences in the third quarter valued at about $105,000. Institutional investors own 50.25% of the company’s stock.

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.