Maravai LifeSciences (NASDAQ:MRVI) Reaches New 12-Month Low – What’s Next?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) reached a new 52-week low on Monday . The company traded as low as $4.32 and last traded at $4.32, with a volume of 891466 shares changing hands. The stock had previously closed at $4.42.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MRVI. Wolfe Research started coverage on 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 report on Friday, November 8th. The Goldman Sachs Group lowered their price target on shares of Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, October 8th. Royal Bank of Canada cut their price target on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Finally, Robert W. Baird decreased their price objective on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $10.33.

Maravai LifeSciences Stock Up 1.8 %

The company’s fifty day simple moving average is $7.59 and its 200 day simple moving average is $8.35. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $1.17 billion, a PE ratio of -2.82 and a beta of 0.02.

Insider Activity at Maravai LifeSciences

In other Maravai LifeSciences news, insider Carl Hull acquired 175,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average price of $5.64 per share, with a total value of $987,000.00. Following the completion of the purchase, the insider now directly owns 175,000 shares of the company’s stock, valued at approximately $987,000. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.63% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Maravai LifeSciences

A number of institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC grew its stake in shares of 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 buying an additional 2,711 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Maravai LifeSciences in the second quarter worth $32,000. Venturi Wealth Management LLC bought a new position in shares of Maravai LifeSciences during the third quarter valued at $47,000. Blue Trust Inc. purchased a new position in shares of Maravai LifeSciences in the 2nd quarter worth about $44,000. Finally, Custom Index Systems LLC bought a new position in Maravai LifeSciences in the 3rd quarter worth about $97,000. 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.