Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report)'s share price gapped up prior to trading on Wednesday following insider buying activity. The stock had previously closed at $5.70, but opened at $6.32. Maravai LifeSciences shares last traded at $5.84, with a volume of 370,761 shares changing hands.
Specifically, insider Carl Hull acquired 175,000 shares of Maravai LifeSciences stock in a transaction on Monday, November 11th. The stock was acquired at an average price of $5.64 per share, for a total transaction of $987,000.00. Following the purchase, the insider now owns 175,000 shares of the company's stock, valued at approximately $987,000. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on MRVI. The Goldman Sachs Group reduced their price target on Maravai LifeSciences from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Tuesday, October 8th. Royal Bank of Canada decreased their target price on shares of Maravai LifeSciences from $17.00 to $13.00 and set an "outperform" rating for the company in a research note on Friday, November 8th. UBS Group raised their price target on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the company a "neutral" rating in a research report on Thursday, August 8th. William Blair reissued a "market perform" rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. Finally, Robert W. Baird cut their price target on Maravai LifeSciences from $10.00 to $9.00 and set an "outperform" rating for the company in a research note on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $10.33.
Check Out Our Latest Research Report on MRVI
Maravai LifeSciences Trading Down 1.2 %
The company has a debt-to-equity ratio of 0.71, a current ratio of 10.00 and a quick ratio of 9.28. The firm has a 50-day moving average price of $7.97 and a two-hundred day moving average price of $8.48.
Institutional Investors Weigh In On Maravai LifeSciences
Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in shares of Maravai LifeSciences by 310.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,585 shares of the company's stock worth $26,000 after purchasing an additional 2,711 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Maravai LifeSciences in the 2nd quarter valued at $32,000. Headlands Technologies LLC purchased a new stake in Maravai LifeSciences in the 1st quarter valued at $42,000. Venturi Wealth Management LLC acquired a new stake in shares of Maravai LifeSciences in the 3rd quarter worth $47,000. Finally, Blue Trust Inc. purchased a new position in shares of Maravai LifeSciences during the 2nd quarter worth $44,000. 50.25% of the stock is currently owned by institutional investors and hedge funds.
About Maravai LifeSciences
(
Get Free Report)
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.
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