Maravai LifeSciences (NASDAQ:MRVI) Stock Price Down 15.7% – Time to Sell?

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

Wall Street Analyst Weigh In

MRVI has been the topic of several analyst reports. Wolfe Research began coverage on Maravai LifeSciences in a research report on Thursday, November 14th. They issued a “peer perform” rating on the stock. The Goldman Sachs Group cut Maravai LifeSciences from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $7.00 to $4.25 in a research report on Thursday, December 5th. Royal Bank of Canada decreased their target price 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. Guggenheim started coverage on shares of Maravai LifeSciences in a report on Thursday, December 19th. They set a “neutral” rating on the stock. Finally, Robert W. Baird decreased their price objective on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company 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 given a buy rating to the stock. Based on data from MarketBeat, Maravai LifeSciences has an average rating of “Hold” and an average target price of $10.28.

Maravai LifeSciences Stock Down 20.1 %

The business’s 50 day simple moving average is $5.70 and its 200 day simple moving average is $7.42. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $1.24 billion, a PE ratio of -2.99 and a beta of -0.07.

Insider Buying and Selling

In other news, insider Carl Hull purchased 175,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average cost 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 approximately $987,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.63% of the stock is currently owned by company insiders.

Institutional Trading of Maravai LifeSciences

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in shares of Maravai LifeSciences by 1,172.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company’s stock worth $33,658,000 after buying an additional 3,731,924 shares in the last quarter. Franklin Resources Inc. bought a new position in Maravai LifeSciences during the 3rd quarter worth about $600,000. Barclays PLC raised its holdings in shares of Maravai LifeSciences by 349.2% in the 3rd quarter. Barclays PLC now owns 184,189 shares of the company’s stock valued at $1,531,000 after purchasing an additional 143,184 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Maravai LifeSciences in the 3rd quarter worth approximately $136,000. Finally, Geode Capital Management LLC boosted its stake in shares of Maravai LifeSciences by 6.3% during the third quarter. Geode Capital Management LLC now owns 2,752,077 shares of the company’s stock valued at $22,874,000 after purchasing an additional 162,601 shares in the last quarter. Hedge funds and other 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.