Maravai LifeSciences (NASDAQ:MRVI) Shares Gap Up – Time to Buy?

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) gapped up before the market opened on Monday . The stock had previously closed at $4.85, but opened at $5.04. Maravai LifeSciences shares last traded at $5.05, with a volume of 542,166 shares.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MRVI. Wolfe Research began coverage on Maravai LifeSciences in a research report on Thursday, November 14th. They set a “peer perform” rating on the stock. William Blair reissued a “market perform” rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. The Goldman Sachs Group downgraded Maravai LifeSciences from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $7.00 to $4.25 in a report on Thursday, December 5th. Guggenheim began coverage on Maravai LifeSciences in a report on Thursday, December 19th. They set a “neutral” rating on the stock. Finally, Royal Bank of Canada decreased their price objective on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Maravai LifeSciences presently has an average rating of “Hold” and a consensus target price of $10.28.

Maravai LifeSciences Stock Down 7.9 %

The business’s 50 day moving average price is $5.52 and its 200-day moving average price is $7.38. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. The company has a market cap of $1.15 billion, a P/E ratio of -2.77 and a beta of -0.07.

Insider Activity

In other news, insider Carl Hull bought 175,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was bought at an average price of $5.64 per share, for a total transaction of $987,000.00. Following the completion of the purchase, the insider now owns 175,000 shares of the company’s stock, valued at approximately $987,000. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Maravai LifeSciences in the 2nd quarter worth approximately $32,000. FNY Investment Advisers LLC raised its position in Maravai LifeSciences by 600.0% in the 4th quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock worth $38,000 after purchasing an additional 6,000 shares during the last quarter. Venturi Wealth Management LLC bought a new position in Maravai LifeSciences in the 3rd quarter worth approximately $47,000. Custom Index Systems LLC bought a new position in Maravai LifeSciences in the 3rd quarter worth approximately $97,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Maravai LifeSciences in the 3rd quarter worth approximately $105,000. 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.