Maravai LifeSciences (NASDAQ:MRVI) Shares Up 4.7% – What’s Next?

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) traded up 4.7% during trading on Tuesday . The company traded as high as $2.36 and last traded at $2.35. 347,097 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 2,271,744 shares. The stock had previously closed at $2.24.

Wall Street Analyst Weigh In

MRVI has been the subject of several recent analyst reports. UBS Group lowered their target price on Maravai LifeSciences from $8.00 to $2.50 and set a “neutral” rating for the company in a research note on Friday, March 21st. Guggenheim initiated coverage on Maravai LifeSciences in a report on Thursday, December 19th. They set a “neutral” rating on the stock. Stifel Nicolaus set a $5.00 target price on Maravai LifeSciences in a research note on Friday, March 21st. Bank of America dropped their price target on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Finally, Baird R W cut shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Maravai LifeSciences presently has an average rating of “Hold” and an average target price of $7.31.

Maravai LifeSciences Stock Performance

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 stock’s 50-day moving average price is $3.82 and its 200-day moving average price is $5.68. The company has a market capitalization of $598.49 million, a P/E ratio of -1.45 and a beta of -0.08.

Insider Activity

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $5.03, for a total transaction of $125,750.00. Following the completion of the transaction, the general counsel now owns 167,618 shares in the company, valued at $843,118.54. The trade was a 12.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Maravai LifeSciences

Several large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its position in Maravai LifeSciences by 312.3% in the 3rd quarter. Victory Capital Management Inc. now owns 58,327 shares of the company’s stock valued at $485,000 after purchasing an additional 44,180 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Maravai LifeSciences by 14.3% in the third quarter. Thrivent Financial for Lutherans now owns 214,645 shares of the company’s stock valued at $1,784,000 after purchasing an additional 26,885 shares during the period. Intech Investment Management LLC acquired a new position in shares of Maravai LifeSciences during the third quarter worth approximately $200,000. Charles Schwab Investment Management Inc. grew its holdings in Maravai LifeSciences by 6.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 946,576 shares of the company’s stock worth $7,866,000 after buying an additional 56,071 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Maravai LifeSciences by 36.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 58,987 shares of the company’s stock valued at $490,000 after acquiring an additional 15,615 shares during the period. 50.25% of the stock is owned by institutional investors and hedge funds.

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.