Maravai LifeSciences (NASDAQ:MRVI) Stock Price Up 8.3% – Here’s What Happened

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) shares traded up 8.3% during mid-day trading on Tuesday . The company traded as high as $5.85 and last traded at $5.73. 1,957,260 shares were traded during trading, a decline of 13% from the average session volume of 2,257,942 shares. The stock had previously closed at $5.29.

Analysts Set New Price Targets

A number of research analysts have weighed in on MRVI shares. Wolfe Research began coverage on Maravai LifeSciences in a report on Thursday, November 14th. They set a “peer perform” rating for the company. Robert W. Baird reduced their price objective on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Wells Fargo & Company began coverage on shares of Maravai LifeSciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 target price on the stock. UBS Group boosted their price target on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Finally, 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 report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Maravai LifeSciences has an average rating of “Moderate Buy” and a consensus price target of $10.33.

Maravai LifeSciences Price Performance

The business’s fifty day moving average price is $7.16 and its 200-day moving average price is $8.19. The company has a market capitalization of $1.49 billion, a P/E ratio of -3.61 and a beta of 0.02. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89.

Insider Activity

In other Maravai LifeSciences news, insider Carl Hull bought 175,000 shares of Maravai LifeSciences stock in a transaction that occurred on Monday, November 11th. The shares were bought at an average price of $5.64 per share, with a total value of $987,000.00. Following the acquisition, the insider now owns 175,000 shares in the company, valued at approximately $987,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in Maravai LifeSciences by 310.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock worth $26,000 after purchasing an additional 2,711 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Maravai LifeSciences in the second quarter worth approximately $32,000. Blue Trust Inc. purchased a new position in shares of Maravai LifeSciences in the second quarter worth $44,000. Venturi Wealth Management LLC bought a new stake in Maravai LifeSciences during the 3rd quarter valued at $47,000. Finally, Custom Index Systems LLC purchased a new stake in Maravai LifeSciences during the 3rd quarter valued at $97,000. 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.