Maravai LifeSciences (NASDAQ:MRVI) Shares Down 4.8% – Time to Sell?

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) were down 4.8% during trading on Wednesday . The stock traded as low as $5.53 and last traded at $5.53. Approximately 201,882 shares changed hands during trading, a decline of 91% from the average daily volume of 2,216,305 shares. The stock had previously closed at $5.81.

Analyst Ratings Changes

Several research firms have commented on MRVI. The Goldman Sachs Group lowered shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and decreased their target price for the company from $7.00 to $4.25 in a report on Thursday, December 5th. William Blair reissued a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Wolfe Research began coverage on Maravai LifeSciences in a research note on Thursday, November 14th. They set a “peer perform” rating for the company. Robert W. Baird lowered their price objective on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Finally, Wells Fargo & Company started coverage on shares of Maravai LifeSciences in a report on Tuesday, August 27th. They set an “overweight” rating and a $10.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.28.

Maravai LifeSciences Price Performance

The stock has a market cap of $1.44 billion, a PE ratio of -3.47 and a beta of -0.08. 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’s 50 day moving average price is $6.44 and its two-hundred day moving average price is $7.68.

Insider Transactions at Maravai LifeSciences

In other Maravai LifeSciences news, insider Carl Hull purchased 175,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 175,000 shares in the company, valued at approximately $987,000. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Maravai LifeSciences

Several large investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in Maravai LifeSciences in the 2nd quarter worth approximately $32,000. Blue Trust Inc. bought a new stake in shares of Maravai LifeSciences in the second quarter valued at about $44,000. Venturi Wealth Management LLC acquired a new stake in Maravai LifeSciences in the third quarter valued at approximately $47,000. Custom Index Systems LLC purchased a new stake in Maravai LifeSciences in the third quarter valued at approximately $97,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Maravai LifeSciences during the third quarter valued at $105,000. 50.25% of the stock is currently owned by institutional investors.

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.