Maravai LifeSciences (NASDAQ:MRVI) Trading Up 6.7% – What’s Next?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) shares shot up 6.7% during trading on Wednesday . The stock traded as high as $4.98 and last traded at $4.94. 437,322 shares traded hands during trading, a decline of 81% from the average session volume of 2,267,077 shares. The stock had previously closed at $4.63.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MRVI shares. 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 target on the stock. The Goldman Sachs Group reduced their target price on 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 lowered their price target on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Morgan Stanley lowered shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $11.00 to $10.00 in a research note on Tuesday, August 13th. Finally, Robert W. Baird lowered 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 note on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $10.33.

Maravai LifeSciences Stock Performance

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 firm has a market capitalization of $1.27 billion, a P/E ratio of -3.02 and a beta of 0.02. The company’s 50 day moving average is $7.43 and its 200-day moving average is $8.31.

Insider Transactions at Maravai LifeSciences

In other Maravai LifeSciences news, insider Carl Hull bought 175,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were bought 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. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Maravai LifeSciences

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its holdings in shares of Maravai LifeSciences by 30.1% in 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 period. Dragoneer Investment Group LLC bought a new position in Maravai LifeSciences in the 2nd quarter worth about $5,373,000. Bamco Inc. NY grew its stake in Maravai LifeSciences by 43.1% during the first quarter. Bamco Inc. NY now owns 2,123,651 shares of the company’s stock valued at $18,412,000 after acquiring an additional 640,000 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of Maravai LifeSciences by 6,252.8% during the 1st quarter. Lazard Asset Management LLC now owns 365,159 shares of the company’s stock valued at $3,165,000 after purchasing an additional 359,411 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in 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 in the last quarter. 50.25% of the stock is owned by institutional investors.

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.