Maravai LifeSciences (NASDAQ:MRVI) Trading 4.7% Higher – Here’s What Happened

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) shot up 4.7% during mid-day trading on Tuesday . The stock traded as high as $2.36 and last traded at $2.35. 347,097 shares traded hands during trading, a decline of 85% from the average session volume of 2,271,744 shares. The stock had previously closed at $2.24.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MRVI shares. Robert W. Baird downgraded Maravai LifeSciences from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $9.00 to $3.00 in a research report on Wednesday, February 26th. Morgan Stanley decreased their price objective on Maravai LifeSciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Tuesday. UBS Group dropped their target price on Maravai LifeSciences from $8.00 to $2.50 and set a “neutral” rating for the company in a report on Friday. Guggenheim assumed coverage on shares of Maravai LifeSciences in a research note on Thursday, December 19th. They issued a “neutral” rating on the stock. Finally, Bank of America cut their price objective on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.59.

Maravai LifeSciences Trading Up 2.9 %

The firm’s fifty day simple moving average is $3.91 and its 200 day simple moving average is $5.75. 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 stock has a market capitalization of $582.08 million, a P/E ratio of -1.42 and a beta of -0.08.

Insider Activity at Maravai LifeSciences

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $5.03, for a total transaction of $125,750.00. Following the completion of the transaction, the general counsel now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.63% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Performa Ltd US LLC boosted its stake in shares of Maravai LifeSciences by 614.3% in the 4th quarter. Performa Ltd US LLC now owns 5,000 shares of the company’s stock valued at $27,000 after purchasing an additional 4,300 shares in the last quarter. FNY Investment Advisers LLC boosted its position in Maravai LifeSciences by 600.0% in the fourth quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock valued at $38,000 after buying an additional 6,000 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Maravai LifeSciences by 3,541.4% during the fourth quarter. Farther Finance Advisors LLC now owns 10,196 shares of the company’s stock worth $56,000 after buying an additional 9,916 shares during the last quarter. Cibc World Markets Corp acquired a new position in shares of Maravai LifeSciences during the fourth quarter worth $56,000. Finally, Atria Investments Inc acquired a new position in shares of Maravai LifeSciences during the fourth quarter worth $58,000. 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.