Maravai LifeSciences (NASDAQ:MRVI) Stock Price Down 7.5% – Time to Sell?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) traded down 7.5% on Friday . The stock traded as low as $4.78 and last traded at $4.81. 894,677 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 2,258,633 shares. The stock had previously closed at $5.20.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MRVI. Wolfe Research assumed coverage on Maravai LifeSciences in a research report on Thursday. They issued a “peer perform” rating on the stock. Robert W. Baird dropped their target price on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. UBS Group increased their price target on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Morgan Stanley cut shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $11.00 to $10.00 in a research note on Tuesday, August 13th. Finally, Wells Fargo & Company assumed coverage on Maravai LifeSciences in a research note on Tuesday, August 27th. They set an “overweight” rating and a $10.00 target price for the company. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.33.

Maravai LifeSciences Stock Down 9.2 %

The company has a current ratio of 10.74, a quick ratio of 9.28 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $1.19 billion, a P/E ratio of -2.93 and a beta of 0.02. The stock has a 50 day moving average price of $7.85 and a 200 day moving average price of $8.44.

Insider Buying and Selling at Maravai LifeSciences

In other Maravai LifeSciences news, insider Carl Hull acquired 175,000 shares of Maravai LifeSciences stock in a transaction that occurred on Monday, November 11th. The shares were bought at an average price of $5.64 per share, with a total value of $987,000.00. Following the completion of the purchase, the insider now directly owns 175,000 shares in the company, valued at $987,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its stake in shares of Maravai LifeSciences by 30.1% in the second quarter. Bank of New York Mellon Corp now owns 506,413 shares of the company’s stock worth $3,626,000 after acquiring an additional 117,120 shares during the period. Dragoneer Investment Group LLC acquired a new position in shares of Maravai LifeSciences in the 2nd quarter worth approximately $5,373,000. Bamco Inc. NY boosted its stake in shares of Maravai LifeSciences by 43.1% in the 1st quarter. Bamco Inc. NY now owns 2,123,651 shares of the company’s stock valued at $18,412,000 after purchasing an additional 640,000 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Maravai LifeSciences by 6,252.8% during the first quarter. Lazard Asset Management LLC now owns 365,159 shares of the company’s stock worth $3,165,000 after buying an additional 359,411 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Maravai LifeSciences by 62.4% during the second 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 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.