Maravai LifeSciences (NASDAQ:MRVI) Stock Price Up 3.8% – Here’s What Happened

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

Analyst Ratings Changes

A number of research firms have recently commented on MRVI. Wells Fargo & Company initiated coverage on Maravai LifeSciences in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price objective for the company. The Goldman Sachs Group lowered shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and cut their price target for the stock from $7.00 to $4.25 in a report on Thursday, December 5th. Robert W. Baird decreased their price objective on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Wolfe Research assumed coverage on shares of Maravai LifeSciences in a research note on Thursday, November 14th. They set a “peer perform” rating for the company. Finally, Royal Bank of Canada decreased their price target on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Maravai LifeSciences presently has an average rating of “Hold” and a consensus target price of $10.28.

Maravai LifeSciences Stock Performance

The company has a market cap of $1.48 billion, a PE ratio of -3.62 and a beta of -0.08. 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’s 50 day moving average is $6.47 and its 200-day moving average is $7.71.

Insider Activity at Maravai LifeSciences

In other news, insider Carl Hull purchased 175,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was acquired at an average price of $5.64 per share, for a total transaction of $987,000.00. Following the acquisition, the insider now directly owns 175,000 shares of the company’s stock, valued at approximately $987,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Maravai LifeSciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its position in shares of Maravai LifeSciences by 30.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 506,413 shares of the company’s stock worth $3,626,000 after purchasing an additional 117,120 shares during the last quarter. Dragoneer Investment Group LLC acquired a new stake in shares of Maravai LifeSciences during the second quarter valued at about $5,373,000. Principal Financial Group Inc. lifted its holdings in Maravai LifeSciences by 62.4% during the 2nd quarter. Principal Financial Group Inc. now owns 666,187 shares of the company’s stock worth $4,770,000 after buying an additional 255,990 shares in the last quarter. Royce & Associates LP grew its stake in shares of Maravai LifeSciences by 130.4% in the third quarter. Royce & Associates LP now owns 908,778 shares of the company’s stock worth $7,552,000 after acquiring an additional 514,332 shares in the last quarter. Finally, Sivik Global Healthcare LLC increased its position in shares of Maravai LifeSciences by 23.3% during the second quarter. Sivik Global Healthcare LLC now owns 450,000 shares of the company’s stock worth $3,222,000 after acquiring an additional 85,000 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.