Maravai LifeSciences (NASDAQ:MRVI) Trading Down 15.7% – Here’s Why

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price was down 15.7% during mid-day trading on Friday . The company traded as low as $5.05 and last traded at $5.17. Approximately 412,413 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 1,157,228 shares. The stock had previously closed at $6.13.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MRVI shares. Guggenheim started coverage on shares of Maravai LifeSciences in a report on Thursday, December 19th. They issued a “neutral” rating on the stock. Wolfe Research assumed coverage on Maravai LifeSciences in a research note on Thursday, November 14th. They set a “peer perform” rating for the company. Robert W. Baird dropped their price target on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. William Blair restated a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Finally, Royal Bank of Canada cut their price target on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $10.28.

Maravai LifeSciences Price Performance

The firm has a market cap of $1.22 billion, a P/E ratio of -2.96 and a beta of -0.07. The company has a 50-day moving average of $5.65 and a 200 day moving average of $7.41. 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 Transactions at Maravai LifeSciences

In other Maravai LifeSciences news, insider Carl Hull purchased 175,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average cost of $5.64 per share, with a total value 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 trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.63% of the stock is owned by insiders.

Institutional Trading of Maravai LifeSciences

Several large investors have recently made changes to their positions in MRVI. Creative Planning lifted its position in Maravai LifeSciences by 4.4% during the 3rd quarter. Creative Planning now owns 44,943 shares of the company’s stock worth $373,000 after buying an additional 1,881 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its stake in shares of Maravai LifeSciences by 0.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 519,890 shares of the company’s stock worth $4,320,000 after acquiring an additional 3,725 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Maravai LifeSciences during the second quarter worth approximately $32,000. Venturi Wealth Management LLC bought a new stake in shares of Maravai LifeSciences during the third quarter valued at approximately $47,000. Finally, Orion Portfolio Solutions LLC increased its holdings in shares of Maravai LifeSciences by 4.8% in the third quarter. Orion Portfolio Solutions LLC now owns 135,749 shares of the company’s stock valued at $1,128,000 after purchasing an additional 6,177 shares in the last quarter. Institutional investors 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.