Maravai LifeSciences (NASDAQ:MRVI) Trading Down 4.8% – What’s Next?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) shares were down 4.8% during mid-day trading on Wednesday . The company traded as low as $5.53 and last traded at $5.53. Approximately 201,882 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 2,216,305 shares. The stock had previously closed at $5.81.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MRVI. Guggenheim initiated coverage on shares of Maravai LifeSciences in a research report on Thursday. They set 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. Robert W. Baird reduced their price target on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Wolfe Research started coverage on Maravai LifeSciences in a research report on Thursday, November 14th. They issued a “peer perform” rating for the company. Finally, William Blair restated a “market perform” rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.28.

Maravai LifeSciences Price Performance

The company has a fifty day moving average of $6.35 and a 200-day moving average of $7.65. The stock has a market cap of $1.37 billion, a PE ratio of -3.31 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.

Insiders Place Their Bets

In related news, insider Carl Hull acquired 175,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were acquired at an average price of $5.64 per share, with a total value of $987,000.00. Following the completion of the transaction, the insider now owns 175,000 shares of the company’s stock, valued at $987,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 DIFC Ltd acquired a new stake in Maravai LifeSciences in the 3rd quarter valued at about $22,108,000. Point72 Asset Management L.P. raised its holdings in Maravai LifeSciences by 149.6% in the second quarter. Point72 Asset Management L.P. now owns 3,519,561 shares of the company’s stock valued at $25,200,000 after acquiring an additional 2,109,199 shares in the last quarter. Mackenzie Financial Corp lifted its stake in Maravai LifeSciences by 16.8% in the second quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock worth $41,962,000 after acquiring an additional 844,325 shares during the last quarter. Dragoneer Investment Group LLC purchased a new position in Maravai LifeSciences in the second quarter worth approximately $5,373,000. Finally, Renaissance Technologies LLC grew its holdings in Maravai LifeSciences by 20.8% during the 2nd quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock worth $27,791,000 after acquiring an additional 668,552 shares in the last quarter. 50.25% of the stock is owned by institutional investors and hedge funds.

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.