Maravai LifeSciences (NASDAQ:MRVI) Shares Gap Up – Time to Buy?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $4.85, but opened at $5.04. Maravai LifeSciences shares last traded at $5.05, with a volume of 542,166 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MRVI shares. Guggenheim began coverage on shares of Maravai LifeSciences in a research note on Thursday, December 19th. They issued a “neutral” rating on the stock. Wolfe Research began coverage on Maravai LifeSciences in a report on Thursday, November 14th. They set a “peer perform” rating for the company. The Goldman Sachs Group lowered Maravai LifeSciences from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $7.00 to $4.25 in a report on Thursday, December 5th. Royal Bank of Canada cut their price objective on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, William Blair reiterated a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $10.28.

Maravai LifeSciences Trading Down 7.9 %

The company has a fifty day simple moving average of $5.52 and a two-hundred day simple moving average of $7.38. 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 capitalization of $1.15 billion, a P/E ratio of -2.77 and a beta of -0.07.

Insider Buying and Selling at Maravai LifeSciences

In other Maravai LifeSciences news, insider Carl Hull purchased 175,000 shares of the stock in a transaction dated Monday, November 11th. The shares were bought at an average cost of $5.64 per share, with a total value of $987,000.00. Following the completion of the transaction, the insider now owns 175,000 shares in the company, valued at $987,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Maravai LifeSciences

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Millennium Management LLC grew its position in shares of Maravai LifeSciences by 12.3% in the second quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock valued at $42,735,000 after purchasing an additional 653,639 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Maravai LifeSciences by 16.8% in the second quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock valued at $41,962,000 after purchasing an additional 844,325 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Maravai LifeSciences by 15.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,550,503 shares of the company’s stock valued at $32,582,000 after purchasing an additional 598,530 shares during the last quarter. JPMorgan Chase & Co. grew its position in Maravai LifeSciences by 1,172.4% during the third quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company’s stock worth $33,658,000 after buying an additional 3,731,924 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Maravai LifeSciences by 20.8% during the second quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock worth $27,791,000 after buying an additional 668,552 shares in the last quarter. 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.