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

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) shares gapped up prior to trading on Monday . The stock had previously closed at $2.45, but opened at $2.52. Maravai LifeSciences shares last traded at $2.61, with a volume of 126,709 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MRVI shares. Bank of America reduced their target price on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Baird R W lowered shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Guggenheim initiated coverage on shares of Maravai LifeSciences in a research report on Thursday, December 19th. They issued a “neutral” rating for the company. Robert W. Baird lowered shares of 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 research report on Wednesday, February 26th. Finally, The Goldman Sachs Group lowered shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and cut their price objective for the company from $7.00 to $4.25 in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $9.28.

Maravai LifeSciences Trading Up 3.9 %

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 is $4.30 and its 200 day moving average is $6.02. The company has a market capitalization of $642.68 million, a PE ratio of -1.55 and a beta of -0.08.

Insider Buying and Selling

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $5.03, for a total transaction of $125,750.00. Following the transaction, the general counsel now directly owns 167,618 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. 0.63% of the stock is owned by insiders.

Institutional Trading of Maravai LifeSciences

A number of hedge funds and other institutional investors have recently modified their holdings of MRVI. JPMorgan Chase & Co. grew its position in shares of Maravai LifeSciences by 1,172.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company’s stock worth $33,658,000 after buying an additional 3,731,924 shares during the period. Alyeska Investment Group L.P. grew its position in shares of Maravai LifeSciences by 145.8% in the 4th quarter. Alyeska Investment Group L.P. now owns 5,329,420 shares of the company’s stock worth $29,045,000 after buying an additional 3,161,072 shares during the period. Marshall Wace LLP grew its position in shares of Maravai LifeSciences by 17,912.9% in the 4th quarter. Marshall Wace LLP now owns 2,778,497 shares of the company’s stock worth $15,143,000 after buying an additional 2,763,072 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of Maravai LifeSciences in the 3rd quarter worth about $22,108,000. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Maravai LifeSciences by 29.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,664,210 shares of the company’s stock worth $25,420,000 after buying an additional 1,062,485 shares during the period. 50.25% of the stock is owned by hedge funds and other 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.