Maravai LifeSciences (NASDAQ:MRVI) Shares Down 7.5% – What’s Next?

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

Analysts Set New Price Targets

Several research firms have recently commented on MRVI. Robert W. Baird decreased their price objective 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. Wells Fargo & Company assumed coverage on shares of Maravai LifeSciences in a research note on Tuesday, August 27th. They set an “overweight” rating and a $10.00 target price on the stock. William Blair reiterated a “market perform” rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. UBS Group increased their price objective on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group lowered their target price on shares of Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Maravai LifeSciences has a consensus rating of “Moderate Buy” and an average target price of $10.33.

Maravai LifeSciences Trading Down 15.0 %

The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.28. The stock has a market cap of $1.11 billion, a PE ratio of -2.70 and a beta of 0.02. The stock has a 50-day moving average price of $7.76 and a two-hundred day moving average price of $8.42.

Insider Transactions at Maravai LifeSciences

In related news, insider Carl Hull acquired 175,000 shares of the stock in a transaction dated Monday, November 11th. The stock was acquired at an average cost of $5.64 per share, with a total value of $987,000.00. Following the purchase, the insider now directly owns 175,000 shares of the company’s stock, valued at approximately $987,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.63% of the company’s stock.

Institutional Trading of Maravai LifeSciences

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its position in Maravai LifeSciences by 310.2% during the second quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock valued at $26,000 after acquiring an additional 2,711 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Maravai LifeSciences during the 2nd quarter worth about $32,000. Headlands Technologies LLC bought a new position in Maravai LifeSciences during the 1st quarter valued at about $42,000. Blue Trust Inc. purchased a new stake in Maravai LifeSciences in the 2nd quarter worth about $44,000. Finally, Venturi Wealth Management LLC bought a new stake in Maravai LifeSciences in the third quarter worth about $47,000. Hedge funds and other institutional investors own 50.25% of the company’s stock.

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.