Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Insider Buys $987,000.00 in Stock

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) insider Carl Hull purchased 175,000 shares of the stock in a transaction on Monday, November 11th. The shares were purchased at an average price of $5.64 per share, for a total transaction of $987,000.00. Following the transaction, the insider now directly owns 175,000 shares of the company’s stock, valued at approximately $987,000. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Maravai LifeSciences Price Performance

Shares of NASDAQ:MRVI traded down $0.08 during trading on Tuesday, hitting $5.70. 2,567,220 shares of the company’s stock were exchanged, compared to its average volume of 2,263,716. The company has a debt-to-equity ratio of 0.71, a current ratio of 10.00 and a quick ratio of 9.28. The business’s 50-day simple moving average is $8.03 and its 200 day simple moving average is $8.49. Maravai LifeSciences Holdings, Inc. has a 52-week low of $4.68 and a 52-week high of $11.56. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -3.48 and a beta of 0.02.

Institutional Trading of Maravai LifeSciences

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

Analysts Set New Price Targets

MRVI has been the topic of several research reports. Morgan Stanley downgraded shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $11.00 to $10.00 in a research note on Tuesday, August 13th. UBS Group increased their target price on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Wells Fargo & Company started coverage on shares of Maravai LifeSciences in a report on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price target on the stock. William Blair restated a “market perform” rating on shares of Maravai LifeSciences in a report on Friday. Finally, The Goldman Sachs Group cut their price objective on shares of Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Maravai LifeSciences has a consensus rating of “Moderate Buy” and a consensus target price of $10.33.

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.