Maravai LifeSciences (NASDAQ:MRVI) Shares Down 7.5% – Here’s Why

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) traded down 7.5% during trading on Friday . The company traded as low as $4.78 and last traded at $4.81. 894,677 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 2,258,633 shares. The stock had previously closed at $5.20.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wolfe Research began coverage on shares of Maravai LifeSciences in a research note on Thursday. They issued a “peer perform” rating on the stock. Royal Bank of Canada reduced their price objective on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. The Goldman Sachs Group lowered their target price on Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, October 8th. Morgan Stanley downgraded Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $11.00 to $10.00 in a report on Tuesday, August 13th. Finally, UBS Group increased their target price on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.33.

Maravai LifeSciences Stock Performance

The company has a market cap of $1.11 billion, a P/E ratio of -2.70 and a beta of 0.02. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.28. The business has a 50-day moving average of $7.76 and a two-hundred day moving average of $8.42.

Insider Transactions at Maravai LifeSciences

In other Maravai LifeSciences news, insider Carl Hull acquired 175,000 shares of the stock in a transaction dated Monday, November 11th. The stock was purchased at an average price of $5.64 per share, with a total value of $987,000.00. Following the transaction, the insider now directly owns 175,000 shares of the company’s stock, valued at $987,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Maravai LifeSciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in Maravai LifeSciences by 310.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock worth $26,000 after purchasing an additional 2,711 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Maravai LifeSciences during the second quarter worth $32,000. Headlands Technologies LLC purchased a new stake in shares of Maravai LifeSciences during the first quarter valued at $42,000. Venturi Wealth Management LLC acquired a new position in shares of Maravai LifeSciences in the 3rd quarter valued at $47,000. Finally, Blue Trust Inc. purchased a new stake in Maravai LifeSciences during the 2nd quarter valued at about $44,000. 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.