Maravai LifeSciences (NASDAQ:MRVI) Shares Up 3.8% – Still a Buy?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price traded up 3.8% during trading on Tuesday . The stock traded as high as $5.87 and last traded at $5.79. 306,175 shares changed hands during trading, a decline of 86% from the average session volume of 2,216,026 shares. The stock had previously closed at $5.58.

Analysts Set New Price Targets

MRVI has been the subject of several research analyst reports. William Blair reissued a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Robert W. Baird decreased their price target on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Wolfe Research began coverage on shares of Maravai LifeSciences in a research report on Thursday, November 14th. They set a “peer perform” rating on the stock. Royal Bank of Canada reduced their target price 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, The Goldman Sachs Group cut Maravai LifeSciences from a “neutral” rating to a “sell” rating and dropped their price target for the company from $7.00 to $4.25 in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.28.

Maravai LifeSciences Trading Up 5.4 %

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 firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -3.62 and a beta of -0.08. The business’s 50 day moving average price is $6.47 and its 200-day moving average price is $7.71.

Insiders Place Their Bets

In related news, insider Carl Hull purchased 175,000 shares of the stock in a transaction dated Monday, November 11th. The shares were acquired at an average cost of $5.64 per share, with a total value of $987,000.00. Following the purchase, the insider now directly owns 175,000 shares in the company, valued at $987,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.63% of the stock is currently owned by insiders.

Institutional Trading of Maravai LifeSciences

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. purchased a new position in Maravai LifeSciences in the 2nd quarter valued at approximately $44,000. Bank of New York Mellon Corp raised its stake in shares of Maravai LifeSciences by 30.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 506,413 shares of the company’s stock worth $3,626,000 after buying an additional 117,120 shares during the last quarter. Liontrust Investment Partners LLP boosted its position in shares of Maravai LifeSciences by 14.7% in the 2nd quarter. Liontrust Investment Partners LLP now owns 43,845 shares of the company’s stock worth $314,000 after buying an additional 5,628 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Maravai LifeSciences by 32.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,450 shares of the company’s stock valued at $182,000 after acquiring an additional 6,212 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Maravai LifeSciences by 62.4% during the 2nd 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. Institutional investors and hedge funds own 50.25% of the company’s stock.

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.