Maravai LifeSciences (NASDAQ:MRVI) Shares Gap Down - Here's What Happened

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $5.33, but opened at $5.22. Maravai LifeSciences shares last traded at $5.24, with a volume of 108,566 shares traded.

Analyst Upgrades and Downgrades

MRVI has been the topic of several research analyst reports. The Goldman Sachs Group lowered Maravai LifeSciences from a "neutral" rating to a "sell" rating and cut their target price for the company from $7.00 to $4.25 in a research report on Thursday, December 5th. Guggenheim initiated coverage on shares of Maravai LifeSciences in a research report on Thursday, December 19th. They set a "neutral" rating on the stock. Robert W. Baird decreased their price target on shares of Maravai LifeSciences from $10.00 to $9.00 and set an "outperform" rating for the company in a research note on Friday, November 8th. William Blair restated a "market perform" rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. Finally, Royal Bank of Canada cut their price target on Maravai LifeSciences from $17.00 to $13.00 and set an "outperform" rating on the stock in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $10.28.

Maravai LifeSciences Stock Up 5.3 %

The stock has a 50-day moving average of $6.07 and a 200 day moving average of $7.54. The company has a market capitalization of $1.42 billion, a PE ratio of -3.42 and a beta of -0.07. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89.

Insider Activity at Maravai LifeSciences

In other news, insider Carl Hull purchased 175,000 shares of the company's stock in a transaction dated Monday, November 11th. The shares were purchased at an average price of $5.64 per share, with a total value of $987,000.00. Following the transaction, the insider now directly owns 175,000 shares of the company's stock, valued at approximately $987,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.63% of the stock is owned by company insiders.

Institutional Investors Weigh In On Maravai LifeSciences

Several institutional investors have recently added to or reduced their stakes in MRVI. JPMorgan Chase & Co. lifted its holdings in Maravai LifeSciences by 1,172.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company's stock worth $33,658,000 after purchasing an additional 3,731,924 shares in the last quarter. Franklin Resources Inc. bought a new stake in Maravai LifeSciences during the third quarter valued at approximately $600,000. Barclays PLC increased its holdings in shares of Maravai LifeSciences by 349.2% in the 3rd quarter. Barclays PLC now owns 184,189 shares of the company's stock worth $1,531,000 after buying an additional 143,184 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Maravai LifeSciences during the 3rd quarter worth $136,000. Finally, Geode Capital Management LLC increased its stake in Maravai LifeSciences by 6.3% in the third quarter. Geode Capital Management LLC now owns 2,752,077 shares of the company's stock valued at $22,874,000 after acquiring an additional 162,601 shares during the last quarter. 50.25% of the stock is owned by hedge funds and other institutional investors.

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.