Maravai LifeSciences (NASDAQ:MRVI) Shares Up 6.2% – Should You Buy?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price shot up 6.2% on Friday . The company traded as high as $4.12 and last traded at $4.20. 1,813,332 shares were traded during mid-day trading, a decline of 16% from the average session volume of 2,163,016 shares. The stock had previously closed at $3.95.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MRVI. Royal Bank of Canada lowered their price target on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Guggenheim began coverage on shares of Maravai LifeSciences in a report on Thursday, December 19th. They set a “neutral” rating for the company. William Blair reissued a “market perform” rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. Robert W. Baird dropped their price target on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Finally, The Goldman Sachs Group lowered shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $7.00 to $4.25 in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $10.28.

Maravai LifeSciences Price Performance

The stock’s 50 day moving average is $5.09 and its two-hundred day moving average is $6.71. 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 stock has a market capitalization of $1.05 billion, a PE ratio of -2.53 and a beta of -0.08.

Insider Buying and Selling

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $5.03, for a total transaction of $125,750.00. Following the sale, the general counsel now directly owns 167,618 shares in the company, valued at approximately $843,118.54. This represents a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Maravai LifeSciences

Several hedge funds have recently added to or reduced their stakes in the stock. Delta Investment Management LLC increased its stake in Maravai LifeSciences by 285.4% in the fourth quarter. Delta Investment Management LLC now owns 332,993 shares of the company’s stock valued at $1,815,000 after purchasing an additional 246,592 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Maravai LifeSciences by 22.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 251,214 shares of the company’s stock valued at $1,369,000 after purchasing an additional 45,454 shares during the last quarter. Systematic Financial Management LP increased its stake in Maravai LifeSciences by 2.3% in the fourth quarter. Systematic Financial Management LP now owns 1,649,544 shares of the company’s stock valued at $8,990,000 after purchasing an additional 37,383 shares during the last quarter. Sherbrooke Park Advisers LLC purchased a new position in shares of Maravai LifeSciences during the fourth quarter worth approximately $78,000. Finally, ProShare Advisors LLC grew its position in shares of Maravai LifeSciences by 89.8% during the fourth quarter. ProShare Advisors LLC now owns 55,488 shares of the company’s stock worth $302,000 after acquiring an additional 26,251 shares during the last quarter. 50.25% of the stock is currently 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.