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

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s share price gapped up prior to trading on Monday . The stock had previously closed at $2.45, but opened at $2.52. Maravai LifeSciences shares last traded at $2.61, with a volume of 126,709 shares changing hands.

Analysts Set New Price Targets

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

Maravai LifeSciences Stock Down 2.3 %

The stock has a fifty day moving average of $4.16 and a 200 day moving average of $5.93. The firm has a market capitalization of $651.52 million, a P/E ratio of -1.57 and a beta of -0.08. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94.

Maravai LifeSciences (NASDAQ:MRVI) last issued its quarterly earnings results on Tuesday, March 18th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). Maravai LifeSciences had a negative return on equity of 6.61% and a negative net margin of 81.13%. On average, research analysts anticipate that Maravai LifeSciences Holdings, Inc. will post -0.24 EPS for the current fiscal year.

Insider Buying and Selling

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $5.03, for a total value of $125,750.00. Following the sale, the general counsel now directly owns 167,618 shares in the company, valued at $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 is available through the SEC website. 0.63% of the stock is currently owned by corporate insiders.

Institutional Trading of Maravai LifeSciences

Several hedge funds have recently made changes to their positions in MRVI. JPMorgan Chase & Co. raised its stake in shares of Maravai LifeSciences by 1,172.4% in the third quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company’s stock valued at $33,658,000 after buying an additional 3,731,924 shares during the period. Alyeska Investment Group L.P. raised its stake in shares of Maravai LifeSciences by 145.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 5,329,420 shares of the company’s stock valued at $29,045,000 after buying an additional 3,161,072 shares during the period. Marshall Wace LLP raised its stake in shares of Maravai LifeSciences by 17,912.9% in the fourth quarter. Marshall Wace LLP now owns 2,778,497 shares of the company’s stock valued at $15,143,000 after buying an additional 2,763,072 shares during the period. Point72 DIFC Ltd bought a new stake in shares of Maravai LifeSciences in the third quarter valued at $22,108,000. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Maravai LifeSciences by 29.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,664,210 shares of the company’s stock valued at $25,420,000 after buying an additional 1,062,485 shares during the period. 50.25% of the stock is currently owned by 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.