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

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) gapped down before the market opened on Thursday . The stock had previously closed at $5.63, but opened at $5.50. Maravai LifeSciences shares last traded at $5.27, with a volume of 78,078 shares.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MRVI. Robert W. Baird lowered 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. Morgan Stanley lowered shares of 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 research report on Tuesday, August 13th. Wells Fargo & Company began coverage on Maravai LifeSciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price target for the company. UBS Group increased their price target on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Finally, Royal Bank of Canada lowered their price objective on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Maravai LifeSciences currently has an average rating of “Moderate Buy” and an average target price of $10.33.

Maravai LifeSciences Price Performance

The business has a fifty day simple moving average of $7.92 and a 200-day simple moving average of $8.46. The stock has a market capitalization of $1.34 billion, a P/E ratio of -3.18 and a beta of 0.02. The company has a debt-to-equity ratio of 0.71, a quick ratio of 9.28 and a current ratio of 10.00.

Insider Transactions at Maravai LifeSciences

In other news, insider Carl Hull acquired 175,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was purchased at an average price of $5.64 per share, for a total transaction of $987,000.00. Following the purchase, the insider now owns 175,000 shares in the company, valued at approximately $987,000. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.63% of the stock is owned by insiders.

Institutional Investors Weigh In On Maravai LifeSciences

Several institutional investors have recently made changes to their positions in the stock. Quent Capital LLC increased its holdings in shares of Maravai LifeSciences by 26,315.8% in the first quarter. Quent Capital LLC now owns 15,057 shares of the company’s stock worth $131,000 after purchasing an additional 15,000 shares during the period. Headlands Technologies LLC bought a new position in shares of Maravai LifeSciences in the first quarter worth approximately $42,000. QRG Capital Management Inc. raised its stake in Maravai LifeSciences by 11.7% in the first quarter. QRG Capital Management Inc. now owns 17,143 shares of the company’s stock valued at $149,000 after purchasing an additional 1,796 shares in the last quarter. Bleakley Financial Group LLC lifted its position in Maravai LifeSciences by 24.6% during the first quarter. Bleakley Financial Group LLC now owns 29,613 shares of the company’s stock valued at $257,000 after purchasing an additional 5,853 shares during the last quarter. Finally, Orion Portfolio Solutions LLC grew its position in Maravai LifeSciences by 14.4% in the first quarter. Orion Portfolio Solutions LLC now owns 115,239 shares of the company’s stock worth $999,000 after acquiring an additional 14,519 shares in the last quarter. Hedge funds and other institutional investors own 50.25% of the company’s stock.

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.