Maravai LifeSciences (NASDAQ:MRVI) Stock Price Down 15.7% – What’s Next?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) shares dropped 15.7% during mid-day trading on Friday . The stock traded as low as $5.05 and last traded at $5.17. Approximately 412,413 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 1,157,228 shares. The stock had previously closed at $6.13.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MRVI shares. The Goldman Sachs Group cut shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and lowered their price target for the company from $7.00 to $4.25 in a report on Thursday, December 5th. Guggenheim started coverage on shares of Maravai LifeSciences in a report on Thursday, December 19th. They issued a “neutral” rating on the stock. Wolfe Research initiated coverage on Maravai LifeSciences in a report on Thursday, November 14th. They set a “peer perform” rating for the company. Robert W. Baird dropped their target price on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Finally, Royal Bank of Canada decreased their price target on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $10.28.

Maravai LifeSciences Trading Down 20.1 %

The firm has a market cap of $1.24 billion, a PE ratio of -2.99 and a beta of -0.07. 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 company has a 50 day simple moving average of $5.70 and a two-hundred day simple moving average of $7.42.

Insider Activity at Maravai LifeSciences

In related news, insider Carl Hull acquired 175,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was acquired at an average price of $5.64 per share, with a total value of $987,000.00. Following the acquisition, the insider now directly owns 175,000 shares in the company, valued at $987,000. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.63% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Creative Planning grew its position in shares of Maravai LifeSciences by 4.4% during the 3rd quarter. Creative Planning now owns 44,943 shares of the company’s stock valued at $373,000 after acquiring an additional 1,881 shares during the period. Kornitzer Capital Management Inc. KS boosted its position in Maravai LifeSciences by 0.7% during the third quarter. Kornitzer Capital Management Inc. KS now owns 519,890 shares of the company’s stock worth $4,320,000 after purchasing an additional 3,725 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Maravai LifeSciences in the second quarter valued at approximately $32,000. Venturi Wealth Management LLC purchased a new stake in shares of Maravai LifeSciences in the third quarter valued at approximately $47,000. Finally, Orion Portfolio Solutions LLC raised its stake in shares of Maravai LifeSciences by 4.8% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 135,749 shares of the company’s stock worth $1,128,000 after buying an additional 6,177 shares during the period. 50.25% of the stock is currently owned by hedge funds and other institutional investors.

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.