Carl Hull Purchases 175,000 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Stock

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) insider Carl Hull bought 175,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was bought at an average cost of $5.64 per share, with a total value of $987,000.00. Following the completion of the acquisition, the insider now owns 175,000 shares in the company, valued at $987,000. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Maravai LifeSciences Trading Down 7.6 %

Shares of MRVI opened at $5.20 on Friday. The stock’s fifty day simple moving average is $7.92 and its 200-day simple moving average is $8.46. The firm has a market capitalization of $1.31 billion, a PE ratio of -3.18 and a beta of 0.02. Maravai LifeSciences Holdings, Inc. has a 12-month low of $4.68 and a 12-month high of $11.56. The company has a quick ratio of 9.28, a current ratio of 10.00 and a debt-to-equity ratio of 0.71.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MRVI. Vanguard Group Inc. raised its stake in shares of Maravai LifeSciences by 0.3% during the first quarter. Vanguard Group Inc. now owns 10,038,126 shares of the company’s stock worth $87,031,000 after buying an additional 34,232 shares during the last quarter. Millennium Management LLC grew its holdings in Maravai LifeSciences by 12.3% during the 2nd quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock worth $42,735,000 after acquiring an additional 653,639 shares during the period. Mackenzie Financial Corp raised its position in shares of Maravai LifeSciences by 16.8% during the 2nd quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock valued at $41,962,000 after acquiring an additional 844,325 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Maravai LifeSciences by 15.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,550,503 shares of the company’s stock valued at $32,582,000 after purchasing an additional 598,530 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Maravai LifeSciences by 20.8% in the 2nd quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock worth $27,791,000 after purchasing an additional 668,552 shares during the last quarter. 50.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MRVI has been the topic of a number of analyst reports. Wolfe Research started coverage on Maravai LifeSciences in a research report on Thursday. They issued a “peer perform” rating on the stock. William Blair reiterated a “market perform” rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. UBS Group boosted their price target on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Royal Bank of Canada dropped their price objective on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, Robert W. Baird reduced their target price on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Maravai LifeSciences presently has an average rating of “Moderate Buy” and an average price target of $10.33.

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.