Maravai LifeSciences (NASDAQ:MRVI) Shares Up 9.3% – Here’s Why

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price shot up 9.3% on Friday . The stock traded as high as $2.80 and last traded at $2.92. 1,372,755 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 3,067,565 shares. The stock had previously closed at $2.67.

Analysts Set New Price Targets

Several brokerages recently weighed in on MRVI. Baird R W downgraded shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. Guggenheim began coverage on shares of Maravai LifeSciences in a report on Thursday, December 19th. They issued a “neutral” rating on the stock. The Goldman Sachs Group downgraded shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and cut their price target for the stock from $7.00 to $4.25 in a report on Thursday, December 5th. Wolfe Research began coverage on shares of Maravai LifeSciences in a report on Thursday, November 14th. They issued a “peer perform” rating on the stock. Finally, Bank of America lowered their price objective on Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $9.28.

Maravai LifeSciences Stock Up 10.9 %

The stock has a market cap of $747.48 million, a PE ratio of -1.80 and a beta of -0.08. 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 business has a 50-day moving average price of $4.59 and a 200-day moving average price of $6.26.

Insider Activity

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $5.03, for a total transaction of $125,750.00. Following the transaction, the general counsel now owns 167,618 shares in the company, valued at $843,118.54. This trade represents a 12.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC lifted its holdings in Maravai LifeSciences by 7.3% in the 4th quarter. SG Americas Securities LLC now owns 33,046 shares of the company’s stock valued at $180,000 after purchasing an additional 2,239 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in Maravai LifeSciences by 10.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 30,076 shares of the company’s stock valued at $164,000 after purchasing an additional 2,851 shares in the last quarter. Performa Ltd US LLC lifted its holdings in Maravai LifeSciences by 614.3% in the 4th quarter. Performa Ltd US LLC now owns 5,000 shares of the company’s stock valued at $27,000 after purchasing an additional 4,300 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in Maravai LifeSciences in the 3rd quarter valued at $47,000. Finally, FNY Investment Advisers LLC lifted its holdings in Maravai LifeSciences by 600.0% in the 4th quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock valued at $38,000 after purchasing an additional 6,000 shares in the last quarter. 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.