Maravai LifeSciences (NASDAQ:MRVI) Sees Strong Trading Volume - What's Next?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 3,047,907 shares changed hands during mid-day trading, an increase of 30% from the previous session's volume of 2,336,194 shares.The stock last traded at $2.18 and had previously closed at $2.16.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MRVI. Stifel Nicolaus set a $5.00 price objective on shares of Maravai LifeSciences in a report on Friday, March 21st. Baird R W lowered Maravai LifeSciences from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 26th. Morgan Stanley reduced 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, March 25th. Bank of America lowered their target price on Maravai LifeSciences from $9.00 to $8.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Finally, Guggenheim began coverage on shares of Maravai LifeSciences in a report on Thursday, December 19th. They set a "neutral" rating on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $7.31.

Maravai LifeSciences Stock Up 2.6 %

The stock has a market capitalization of $506.13 million, a PE ratio of -1.21 and a beta of 0.18. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89. The company's 50-day moving average is $3.41 and its 200 day moving average is $5.33.

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Insider Buying and Selling

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences stock in a transaction that occurred 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 completion of the sale, the general counsel now directly owns 167,618 shares in the company, valued at approximately $843,118.54. The trade was a 12.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.63% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Maravai LifeSciences

Hedge funds have recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. lifted its holdings 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 valued at $29,045,000 after buying an additional 3,161,072 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Maravai LifeSciences by 29.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,664,210 shares of the company's stock valued at $25,420,000 after acquiring an additional 1,062,485 shares during the period. JPMorgan Chase & Co. boosted its position in Maravai LifeSciences by 4.9% in the 4th quarter. JPMorgan Chase & Co. now owns 4,250,656 shares of the company's stock worth $23,166,000 after purchasing an additional 200,411 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Maravai LifeSciences by 1.8% during the 4th quarter. Ameriprise Financial Inc. now owns 3,611,625 shares of the company's stock worth $19,683,000 after purchasing an additional 62,123 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of Maravai LifeSciences by 0.3% during the 4th quarter. Jennison Associates LLC now owns 2,990,414 shares of the company's stock valued at $16,298,000 after purchasing an additional 9,769 shares in the last quarter. 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.