Maravai LifeSciences (NASDAQ:MRVI) Shares Gap Up – Still a Buy?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) shares gapped up before the market opened on Thursday . The stock had previously closed at $3.26, but opened at $3.58. Maravai LifeSciences shares last traded at $3.5950, with a volume of 1,118,615 shares changing hands.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company upped their price target on Maravai LifeSciences from $4.00 to $4.50 and gave the company an “overweight” rating in a research report on Monday, December 15th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.25.

Maravai LifeSciences Price Performance

The company has a debt-to-equity ratio of 0.74, a quick ratio of 4.56 and a current ratio of 5.29. The firm’s fifty day moving average is $3.43 and its 200 day moving average is $3.19. The company has a market capitalization of $913.65 million, a P/E ratio of -4.23 and a beta of 0.39.

Insider Activity

In other news, Director Gregory T. Lucier bought 51,472 shares of the stock in a transaction dated Friday, December 5th. The shares were acquired at an average price of $3.70 per share, with a total value of $190,446.40. Following the completion of the acquisition, the director directly owned 106,595 shares in the company, valued at approximately $394,401.50. The trade was a 93.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.11% of the company’s stock.

Hedge Funds Weigh In On Maravai LifeSciences

Several institutional investors have recently added to or reduced their stakes in MRVI. Barclays PLC increased its position in shares of Maravai LifeSciences by 3.0% in the 4th quarter. Barclays PLC now owns 172,281 shares of the company’s stock worth $560,000 after purchasing an additional 5,057 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Maravai LifeSciences by 12.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 46,528 shares of the company’s stock worth $112,000 after acquiring an additional 5,160 shares in the last quarter. Performa Ltd US LLC lifted its position in shares of Maravai LifeSciences by 33.3% in the 2nd quarter. Performa Ltd US LLC now owns 22,990 shares of the company’s stock valued at $55,000 after acquiring an additional 5,740 shares in the last quarter. Epacria Capital Partners LLC increased its holdings in shares of Maravai LifeSciences by 6.8% in the 3rd quarter. Epacria Capital Partners LLC now owns 100,078 shares of the company’s stock valued at $287,000 after purchasing an additional 6,384 shares during the period. Finally, Ethic Inc. boosted its stake in shares of Maravai LifeSciences by 62.8% during the 3rd quarter. Ethic Inc. now owns 16,951 shares of the company’s stock worth $49,000 after acquiring an additional 6,540 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 (NASDAQ: MRVI) is a life sciences company specializing in the development and supply of critical reagents and services for the development and manufacture of biologic therapies. The company’s offerings support a range of applications in genomics, molecular diagnostics, vaccine development and next-generation sequencing. Maravai’s platforms address key challenges in nucleic acid production, protein detection, epigenetic analysis and reagent quality across the biopharmaceutical industry.

Through its product portfolio, which includes proprietary mRNA capping reagents, lipid nanoparticle delivery systems, synthetic oligonucleotides and high-precision assay kits, Maravai enables customers to accelerate research and streamline manufacturing workflows.