Maravai LifeSciences (NASDAQ:MRVI) Shares Up 6.2% – What’s Next?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s share price was up 6.2% during trading on Friday . The company traded as high as $4.12 and last traded at $4.20. Approximately 1,813,332 shares were traded during trading, a decline of 16% from the average daily volume of 2,163,016 shares. The stock had previously closed at $3.95.

Analysts Set New Price Targets

MRVI has been the subject of several recent analyst reports. The Goldman Sachs Group cut Maravai LifeSciences from a “neutral” rating to a “sell” rating and lowered their price target for the company from $7.00 to $4.25 in a report on Thursday, December 5th. Royal Bank of Canada reduced their price target 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. Wolfe Research began coverage on Maravai LifeSciences in a research report on Thursday, November 14th. They issued a “peer perform” rating on the stock. Guggenheim initiated coverage on Maravai LifeSciences in a report on Thursday, December 19th. They issued a “neutral” rating for the company. Finally, William Blair restated a “market perform” rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. One 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $10.28.

Maravai LifeSciences Price Performance

The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. The firm has a market cap of $1.05 billion, a P/E ratio of -2.53 and a beta of -0.08. The company has a 50-day moving average of $5.09 and a 200 day moving average of $6.71.

Insider Activity

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $5.03, for a total transaction of $125,750.00. Following the transaction, the general counsel now directly owns 167,618 shares in the company, valued at approximately $843,118.54. The trade was a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.63% of the company’s stock.

Institutional Trading of Maravai LifeSciences

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning raised its stake in Maravai LifeSciences by 4.4% in the third quarter. Creative Planning now owns 44,943 shares of the company’s stock valued at $373,000 after buying an additional 1,881 shares during the period. Bleakley Financial Group LLC grew its position in Maravai LifeSciences by 38.3% during the third quarter. Bleakley Financial Group LLC now owns 32,034 shares of the company’s stock worth $266,000 after buying an additional 8,863 shares in the last quarter. Blue Trust Inc. grew its position in Maravai LifeSciences by 181.1% during the third quarter. Blue Trust Inc. now owns 17,409 shares of the company’s stock worth $145,000 after buying an additional 11,215 shares in the last quarter. E. Ohman J or Asset Management AB boosted its holdings in shares of Maravai LifeSciences by 28.8% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 232,751 shares of the company’s stock valued at $1,934,000 after purchasing an additional 52,000 shares in the last quarter. Finally, Custom Index Systems LLC acquired a new stake in shares of Maravai LifeSciences in the 3rd quarter valued at $97,000. Institutional investors and hedge funds own 50.25% of the company’s stock.

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.