Maravai LifeSciences (NASDAQ:MRVI) Shares Up 4.7% – What’s Next?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price rose 4.7% during trading on Tuesday . The company traded as high as $2.36 and last traded at $2.35. Approximately 347,097 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 2,271,744 shares. The stock had previously closed at $2.24.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MRVI shares. Stifel Nicolaus set a $5.00 price objective on Maravai LifeSciences in a research report on Friday, March 21st. Bank of America dropped their target price on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Baird R W downgraded Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Morgan Stanley lowered their price objective on shares of Maravai LifeSciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, Robert W. Baird cut shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $9.00 to $3.00 in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Maravai LifeSciences has a consensus rating of “Hold” and a consensus price target of $7.31.

Maravai LifeSciences Price Performance

The company’s 50 day simple moving average is $3.82 and its 200 day simple moving average is $5.68. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $598.49 million, a PE ratio of -1.45 and a beta of -0.08.

Insider Transactions at Maravai LifeSciences

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the 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 transaction, the general counsel now owns 167,618 shares of the company’s stock, valued at $843,118.54. This trade represents a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Maravai LifeSciences

A number of large investors have recently modified their holdings of MRVI. Alyeska Investment Group L.P. raised its holdings in 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. Massachusetts Financial Services Co. MA boosted its position 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 worth $25,420,000 after buying an additional 1,062,485 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Maravai LifeSciences by 4.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,250,656 shares of the company’s stock valued at $23,166,000 after buying an additional 200,411 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Maravai LifeSciences by 1.8% during the 4th quarter. Ameriprise Financial Inc. now owns 3,611,625 shares of the company’s stock valued at $19,683,000 after buying an additional 62,123 shares during the period. Finally, Jennison Associates LLC grew its position in Maravai LifeSciences by 0.3% in the fourth quarter. Jennison Associates LLC now owns 2,990,414 shares of the company’s stock valued at $16,298,000 after acquiring an additional 9,769 shares in 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.