Maravai LifeSciences (NASDAQ:MRVI) Shares Up 9.3% – Here’s Why

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) shares were up 9.3% during mid-day trading on Friday . The company traded as high as $2.80 and last traded at $2.92. Approximately 1,372,755 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 3,067,565 shares. The stock had previously closed at $2.67.

Wall Street Analyst Weigh In

MRVI has been the topic of several analyst reports. The Goldman Sachs Group lowered Maravai LifeSciences from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $7.00 to $4.25 in a report on Thursday, December 5th. Bank of America reduced their price target on Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Robert W. Baird lowered Maravai LifeSciences from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $9.00 to $3.00 in a report on Wednesday, February 26th. Guggenheim initiated coverage on Maravai LifeSciences in a report on Thursday, December 19th. They set a “neutral” rating on the stock. Finally, Baird R W lowered Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Maravai LifeSciences presently has a consensus rating of “Hold” and a consensus target price of $9.28.

Maravai LifeSciences Price Performance

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 $747.48 million, a PE ratio of -1.80 and a beta of -0.08. The stock’s 50 day simple moving average is $4.59 and its 200-day simple moving average is $6.26.

Insiders Place Their Bets

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the business’s 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 completion of the transaction, the general counsel now directly owns 167,618 shares of the company’s stock, valued at approximately $843,118.54. The trade was a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Maravai LifeSciences

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC grew its position in shares of Maravai LifeSciences by 7.3% during the fourth quarter. SG Americas Securities LLC now owns 33,046 shares of the company’s stock worth $180,000 after buying an additional 2,239 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Maravai LifeSciences by 10.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 30,076 shares of the company’s stock valued at $164,000 after purchasing an additional 2,851 shares in the last quarter. Performa Ltd US LLC boosted its holdings in Maravai LifeSciences by 614.3% in the fourth quarter. Performa Ltd US LLC now owns 5,000 shares of the company’s stock valued at $27,000 after purchasing an additional 4,300 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in Maravai LifeSciences in the third quarter valued at approximately $47,000. Finally, FNY Investment Advisers LLC boosted its holdings in Maravai LifeSciences by 600.0% in the fourth quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock valued at $38,000 after purchasing an additional 6,000 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.