Maravai LifeSciences (NASDAQ:MRVI) Stock Price Up 9.5% – Here’s Why

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) shares rose 9.5% during trading on Tuesday . The stock traded as high as $5.19 and last traded at $5.23. Approximately 1,393,068 shares traded hands during trading, a decline of 33% from the average daily volume of 2,088,515 shares. The stock had previously closed at $4.77.

Analyst Ratings Changes

MRVI has been the subject of a number of recent research reports. The Goldman Sachs Group cut shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $7.00 to $4.25 in a report on Thursday, December 5th. Guggenheim initiated coverage on Maravai LifeSciences in a report on Thursday, December 19th. They set a “neutral” rating on the stock. Robert W. Baird reduced their target price on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, November 8th. William Blair reissued a “market perform” rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. Finally, Wolfe Research assumed coverage on shares of Maravai LifeSciences in a report on Thursday, November 14th. They set a “peer perform” 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 issued a buy rating to the company’s stock. According to data from MarketBeat, Maravai LifeSciences presently has a consensus rating of “Hold” and a consensus price target of $10.28.

Maravai LifeSciences Price Performance

The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -3.19 and a beta of -0.07. 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 company’s 50-day moving average is $5.36 and its 200-day moving average is $7.31.

Insider Buying and Selling

In other news, insider Carl Hull acquired 175,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were purchased at an average cost of $5.64 per share, with a total value of $987,000.00. Following the completion of the purchase, the insider now owns 175,000 shares of the company’s stock, valued at $987,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.63% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Maravai LifeSciences

A number of large investors have recently bought and sold shares of the business. SG Americas Securities LLC grew its holdings in Maravai LifeSciences by 7.3% during the 4th quarter. SG Americas Securities LLC now owns 33,046 shares of the company’s stock worth $180,000 after acquiring an additional 2,239 shares during the last quarter. FNY Investment Advisers LLC increased its holdings in shares of 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. JPMorgan Chase & Co. raised its position in Maravai LifeSciences by 1,172.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company’s stock worth $33,658,000 after purchasing an additional 3,731,924 shares during the last quarter. Franklin Resources Inc. bought a new position in Maravai LifeSciences in the 3rd quarter worth approximately $600,000. Finally, Barclays PLC lifted its holdings in Maravai LifeSciences by 349.2% during the 3rd quarter. Barclays PLC now owns 184,189 shares of the company’s stock worth $1,531,000 after buying an additional 143,184 shares in the last quarter. 50.25% of the stock is currently owned by 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.