Maravai LifeSciences (NASDAQ:MRVI) Trading Up 4.7% – Time to Buy?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) traded up 4.7% during trading on Tuesday . The company traded as high as $2.36 and last traded at $2.35. 347,097 shares were traded during mid-day trading, a decline of 85% from the average session volume of 2,271,744 shares. The stock had previously closed at $2.24.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Baird R W cut shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. Guggenheim assumed coverage on Maravai LifeSciences in a research note on Thursday, December 19th. They set a “neutral” rating on the stock. Morgan Stanley lowered their target price on Maravai LifeSciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Tuesday. The Goldman Sachs Group downgraded shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and cut their price target for the company from $7.00 to $4.25 in a report on Thursday, December 5th. Finally, Bank of America cut their price objective on Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Maravai LifeSciences has an average rating of “Hold” and an average price target of $7.59.

Maravai LifeSciences Stock Up 2.9 %

The firm’s 50-day simple moving average is $3.91 and its two-hundred day simple moving average is $5.75. 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 stock has a market cap of $582.08 million, a price-to-earnings ratio of -1.42 and a beta of -0.08.

Insider Activity

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $5.03, for a total transaction of $125,750.00. Following the transaction, the general counsel now directly owns 167,618 shares in the company, valued at approximately $843,118.54. The trade was a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.63% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Alpha Wealth Funds LLC acquired a new position in shares of Maravai LifeSciences during the 4th quarter worth approximately $386,000. Delta Investment Management LLC raised its stake in Maravai LifeSciences by 285.4% in the 4th quarter. Delta Investment Management LLC now owns 332,993 shares of the company’s stock valued at $1,815,000 after acquiring an additional 246,592 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Maravai LifeSciences by 22.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 251,214 shares of the company’s stock valued at $1,369,000 after purchasing an additional 45,454 shares during the last quarter. Systematic Financial Management LP boosted its position in Maravai LifeSciences by 2.3% during the fourth quarter. Systematic Financial Management LP now owns 1,649,544 shares of the company’s stock worth $8,990,000 after purchasing an additional 37,383 shares during the period. Finally, Sherbrooke Park Advisers LLC acquired a new position in shares of Maravai LifeSciences in the fourth quarter valued at $78,000. 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.