Maravai LifeSciences (NASDAQ:MRVI) Shares Up 6.2% – Time to Buy?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s share price shot up 6.2% during trading on Friday . The company traded as high as $4.12 and last traded at $4.20. 1,813,332 shares changed hands during trading, a decline of 16% from the average session volume of 2,163,016 shares. The stock had previously closed at $3.95.

Analysts Set New Price Targets

A number of brokerages have commented on MRVI. The Goldman Sachs Group cut Maravai LifeSciences from a “neutral” rating to a “sell” rating and reduced their target price for the company from $7.00 to $4.25 in a report on Thursday, December 5th. William Blair reaffirmed a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Wolfe Research started coverage on Maravai LifeSciences in a report on Thursday, November 14th. They issued a “peer perform” rating for the company. Royal Bank of Canada cut their price target 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, Guggenheim started coverage on Maravai LifeSciences in a report on Thursday, December 19th. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $10.28.

Maravai LifeSciences Stock Up 4.1 %

The company has a market capitalization of $1.04 billion, a PE ratio of -2.51 and a beta of -0.08. 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 50-day moving average of $5.06 and a two-hundred day moving average of $6.66.

Insider Transactions at Maravai LifeSciences

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $5.03, for a total transaction of $125,750.00. Following the completion of the transaction, the general counsel now directly owns 167,618 shares in the company, valued at $843,118.54. This trade represents a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MRVI. Creative Planning boosted its position in shares of Maravai LifeSciences by 4.4% during the third quarter. Creative Planning now owns 44,943 shares of the company’s stock worth $373,000 after buying an additional 1,881 shares during the period. Blue Trust Inc. boosted its holdings in Maravai LifeSciences by 181.1% in the third quarter. Blue Trust Inc. now owns 17,409 shares of the company’s stock valued at $145,000 after purchasing an additional 11,215 shares during the period. E. Ohman J or Asset Management AB boosted its holdings in Maravai LifeSciences by 28.8% in the third quarter. E. Ohman J or Asset Management AB now owns 232,751 shares of the company’s stock valued at $1,934,000 after purchasing an additional 52,000 shares during the period. Custom Index Systems LLC purchased a new position in Maravai LifeSciences in the third quarter valued at $97,000. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in Maravai LifeSciences by 74.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 27,225 shares of the company’s stock valued at $226,000 after purchasing an additional 11,621 shares during the period. 50.25% of the stock is currently owned by hedge funds and other institutional investors.

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.