Maravai LifeSciences (NASDAQ:MRVI) Trading Up 6.7% – Should You Buy?

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) rose 6.7% during mid-day trading on Wednesday . The stock traded as high as $4.98 and last traded at $4.94. Approximately 437,322 shares were traded during trading, a decline of 81% from the average daily volume of 2,267,077 shares. The stock had previously closed at $4.63.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MRVI. William Blair reiterated a “market perform” rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. Morgan Stanley cut Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $11.00 to $10.00 in a report on Tuesday, August 13th. Royal Bank of Canada reduced their price target on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Robert W. Baird decreased their price objective on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Finally, Wolfe Research started coverage on Maravai LifeSciences in a research note on Thursday, November 14th. They issued a “peer perform” rating on the stock. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $10.33.

Maravai LifeSciences Trading Up 4.1 %

The stock has a market cap of $1.22 billion, a PE ratio of -3.07 and a beta of 0.02. 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 simple moving average of $7.59 and a 200-day simple moving average of $8.35.

Insiders Place Their Bets

In other news, insider Carl Hull purchased 175,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was acquired 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 approximately $987,000. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Maravai LifeSciences

Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its position in shares of Maravai LifeSciences by 30.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 506,413 shares of the company’s stock worth $3,626,000 after purchasing an additional 117,120 shares during the period. Dragoneer Investment Group LLC purchased a new stake in shares of Maravai LifeSciences in the 2nd quarter worth about $5,373,000. Bamco Inc. NY raised its position in shares of Maravai LifeSciences by 43.1% in the 1st quarter. Bamco Inc. NY now owns 2,123,651 shares of the company’s stock worth $18,412,000 after purchasing an additional 640,000 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of Maravai LifeSciences by 6,252.8% during the first quarter. Lazard Asset Management LLC now owns 365,159 shares of the company’s stock valued at $3,165,000 after buying an additional 359,411 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Maravai LifeSciences by 62.4% during the second quarter. Principal Financial Group Inc. now owns 666,187 shares of the company’s stock valued at $4,770,000 after acquiring an additional 255,990 shares in the last quarter. 50.25% of the stock is owned by hedge funds and other 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.