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

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on MRVI shares. Wolfe Research began coverage on Maravai LifeSciences in a research report on Thursday, November 14th. They set a “peer perform” rating for the company. Royal Bank of Canada decreased their price target on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. 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 note on Friday, November 8th. William Blair reiterated a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Finally, The Goldman Sachs Group lowered shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and cut their price target for the company from $7.00 to $4.25 in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $10.28.

Maravai LifeSciences Price 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 stock has a market capitalization of $1.22 billion, a PE ratio of -2.96 and a beta of -0.07. The stock’s 50-day moving average is $5.65 and its 200 day moving average is $7.41.

Insider Transactions at Maravai LifeSciences

In other news, insider Carl Hull purchased 175,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average price of $5.64 per share, with a total value of $987,000.00. Following the purchase, the insider now owns 175,000 shares in the company, valued at $987,000. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.63% of the stock is currently owned by company insiders.

Institutional Trading of Maravai LifeSciences

Institutional investors have recently added to or reduced their stakes in the business. Creative Planning raised its holdings in shares of Maravai LifeSciences by 4.4% during the 3rd quarter. Creative Planning now owns 44,943 shares of the company’s stock valued at $373,000 after purchasing an additional 1,881 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its position 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 buying an additional 3,725 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Maravai LifeSciences during the 2nd quarter worth about $32,000. Venturi Wealth Management LLC acquired a new position in shares of Maravai LifeSciences during the 3rd quarter valued at about $47,000. Finally, Orion Portfolio Solutions LLC raised its stake 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 in the last quarter. 50.25% of the stock is currently owned by institutional investors and hedge funds.

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.