Maravai LifeSciences (NASDAQ:MRVI) Trading 8.3% Higher – What’s Next?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) shot up 8.3% on Tuesday . The company traded as high as $5.85 and last traded at $5.73. 1,957,260 shares traded hands during mid-day trading, a decline of 13% from the average session volume of 2,257,942 shares. The stock had previously closed at $5.29.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MRVI shares. Wells Fargo & Company started coverage on Maravai LifeSciences in a research note on Tuesday, August 27th. They set an “overweight” rating and a $10.00 price objective on the stock. Robert W. Baird reduced their price objective on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. The Goldman Sachs Group decreased their price target on shares of Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, October 8th. Royal Bank of Canada decreased their target price on shares of 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, Morgan Stanley lowered Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $11.00 to $10.00 in a research report on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Maravai LifeSciences has an average rating of “Moderate Buy” and an average target price of $10.33.

Maravai LifeSciences Trading Up 6.2 %

The firm has a market cap of $1.42 billion, a P/E ratio of -3.48 and a beta of 0.02. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89. The company’s 50 day simple moving average is $7.29 and its 200-day simple moving average is $8.24.

Insider Buying and Selling at Maravai LifeSciences

In other Maravai LifeSciences news, insider Carl Hull bought 175,000 shares of Maravai LifeSciences stock in a transaction on Monday, November 11th. The shares were bought at an average cost of $5.64 per share, for a total transaction of $987,000.00. Following the acquisition, the insider now directly owns 175,000 shares in the company, valued at $987,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC grew its stake in Maravai LifeSciences by 349.2% in the third quarter. Barclays PLC now owns 184,189 shares of the company’s stock worth $1,531,000 after purchasing an additional 143,184 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in Maravai LifeSciences during the third quarter worth $136,000. Geode Capital Management LLC boosted its holdings in Maravai LifeSciences by 6.3% during the third quarter. Geode Capital Management LLC now owns 2,752,077 shares of the company’s stock valued at $22,874,000 after purchasing an additional 162,601 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Maravai LifeSciences in the third quarter valued at $105,000. Finally, Orion Portfolio Solutions LLC raised its position in shares of Maravai LifeSciences by 4.8% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 135,749 shares of the company’s stock valued at $1,128,000 after acquiring an additional 6,177 shares during the period. Institutional investors and hedge funds 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.