Maravai LifeSciences (NASDAQ:MRVI) Shares Up 7.4% – Here’s What Happened

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) was up 7.4% on Friday . The stock traded as high as $3.30 and last traded at $3.28. Approximately 1,591,741 shares traded hands during trading, a decline of 45% from the average daily volume of 2,889,668 shares. The stock had previously closed at $3.05.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MRVI shares. Robert W. Baird downgraded Maravai LifeSciences from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $9.00 to $3.00 in a report on Wednesday. William Blair reaffirmed a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. The Goldman Sachs Group downgraded Maravai LifeSciences from a “neutral” rating to a “sell” rating and cut their target price for the stock from $7.00 to $4.25 in a report on Thursday, December 5th. Royal Bank of Canada cut their target price on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Finally, Guggenheim started coverage on Maravai LifeSciences in a report on Thursday, December 19th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $9.46.

Maravai LifeSciences Price Performance

The company has a market capitalization of $813.14 million, a price-to-earnings ratio of -1.96 and a beta of -0.08. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. The business has a 50 day moving average price of $4.84 and a 200-day moving average price of $6.47.

Insider Activity

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $5.03, for a total value of $125,750.00. Following the transaction, the general counsel now directly owns 167,618 shares of the company’s stock, valued at $843,118.54. The trade was a 12.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.63% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its position in Maravai LifeSciences by 1,172.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company’s stock valued at $33,658,000 after buying an additional 3,731,924 shares in the last quarter. Royce & Associates LP increased its holdings in Maravai LifeSciences by 130.4% during the 3rd quarter. Royce & Associates LP now owns 908,778 shares of the company’s stock worth $7,552,000 after purchasing an additional 514,332 shares in the last quarter. Barclays PLC increased its holdings in Maravai LifeSciences by 349.2% during the 3rd quarter. Barclays PLC now owns 184,189 shares of the company’s stock worth $1,531,000 after purchasing an additional 143,184 shares in the last quarter. Systematic Financial Management LP increased its holdings in Maravai LifeSciences by 14.7% during the 3rd quarter. Systematic Financial Management LP now owns 1,612,161 shares of the company’s stock worth $13,397,000 after purchasing an additional 206,499 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in Maravai LifeSciences during the 4th quarter worth approximately $155,000. 50.25% of the stock is owned by institutional investors and hedge funds.

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.