Maravai LifeSciences (NASDAQ:MRVI) Trading Up 3.8% – Here’s Why

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s share price shot up 3.8% during mid-day trading on Tuesday . The stock traded as high as $5.87 and last traded at $5.79. 306,175 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 2,216,026 shares. The stock had previously closed at $5.58.

Analyst Ratings Changes

A number of equities analysts have recently commented on MRVI shares. Wolfe Research assumed coverage on shares of Maravai LifeSciences in a report on Thursday, November 14th. They set a “peer perform” rating for the company. William Blair restated a “market perform” rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. Royal Bank of Canada lowered their price objective 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. Robert W. Baird cut their target price on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Finally, Guggenheim initiated coverage on Maravai LifeSciences in a research report on Thursday. They issued a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $10.28.

Maravai LifeSciences Trading Down 3.8 %

The business has a 50 day simple moving average of $6.39 and a 200 day simple moving average of $7.67. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -3.40 and a beta of -0.08.

Insider Buying and Selling

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, for a total transaction of $987,000.00. Following the completion of the transaction, the insider now directly owns 175,000 shares in the company, valued at $987,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.63% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Maravai LifeSciences

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