Maravai LifeSciences (NASDAQ:MRVI) Trading 9.5% Higher – Time to Buy?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price was up 9.5% on Tuesday . The stock traded as high as $5.19 and last traded at $5.23. Approximately 1,393,068 shares changed hands during trading, a decline of 33% from the average daily volume of 2,088,515 shares. The stock had previously closed at $4.77.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MRVI shares. Wolfe Research initiated coverage on shares of Maravai LifeSciences in a research note on Thursday, November 14th. They issued a “peer perform” rating on the stock. Guggenheim assumed coverage on shares of Maravai LifeSciences in a research note on Thursday, December 19th. They issued a “neutral” rating on the stock. Robert W. Baird dropped their target price on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. William Blair reaffirmed a “market perform” rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. Finally, Royal Bank of Canada cut their target price on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Maravai LifeSciences presently has an average rating of “Hold” and an average target price of $10.28.

Maravai LifeSciences Price Performance

The business has a fifty day moving average of $5.36 and a two-hundred day moving average of $7.31. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of -3.19 and a beta of -0.07.

Insiders Place Their Bets

In other news, insider Carl Hull bought 175,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was bought at an average price of $5.64 per share, with a total value of $987,000.00. Following the completion of the acquisition, the insider now owns 175,000 shares of the company’s stock, valued at $987,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position in Maravai LifeSciences by 1,172.4% during the third 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. Dragoneer Investment Group LLC bought a new stake in shares of Maravai LifeSciences during the 2nd quarter valued at $5,373,000. Royce & Associates LP grew its holdings in shares of Maravai LifeSciences by 130.4% during the 3rd quarter. Royce & Associates LP now owns 908,778 shares of the company’s stock worth $7,552,000 after purchasing an additional 514,332 shares in the last quarter. Barclays PLC increased its position in shares of Maravai LifeSciences by 349.2% in the third quarter. Barclays PLC now owns 184,189 shares of the company’s stock worth $1,531,000 after purchasing an additional 143,184 shares during the period. Finally, Mackenzie Financial Corp raised 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 valued at $41,962,000 after purchasing an additional 844,325 shares in the last quarter. Institutional investors and hedge funds 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.