Maravai LifeSciences (NASDAQ:MRVI) Shares Gap Up - Time to Buy?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $4.85, but opened at $5.04. Maravai LifeSciences shares last traded at $5.05, with a volume of 542,166 shares traded.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MRVI. Wolfe Research started coverage on Maravai LifeSciences in a research note on Thursday, November 14th. They issued a "peer perform" rating for the company. William Blair reaffirmed a "market perform" rating on shares of Maravai LifeSciences in a report on Friday, November 8th. The Goldman Sachs Group lowered Maravai LifeSciences from a "neutral" rating to a "sell" rating and reduced their target price for the stock from $7.00 to $4.25 in a report on Thursday, December 5th. Guggenheim began coverage on Maravai LifeSciences in a research note on Thursday, December 19th. They issued a "neutral" rating for the company. Finally, Royal Bank of Canada cut their price objective on shares of Maravai LifeSciences from $17.00 to $13.00 and set an "outperform" rating for the company in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $10.28.

Maravai LifeSciences Trading Up 0.4 %

The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -2.78 and a beta of -0.07. 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 business's 50 day moving average price is $5.52 and its two-hundred day moving average price is $7.38.

Insider Activity at Maravai LifeSciences

In other news, insider Carl Hull bought 175,000 shares of the stock in a transaction on Monday, November 11th. The stock was acquired at an average price of $5.64 per share, with a total value of $987,000.00. Following the acquisition, the insider now directly owns 175,000 shares in the company, valued at approximately $987,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.63% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Creative Planning grew its holdings in Maravai LifeSciences by 4.4% during the 3rd quarter. Creative Planning now owns 44,943 shares of the company's stock worth $373,000 after acquiring an additional 1,881 shares during the last quarter. Kornitzer Capital Management Inc. KS lifted its holdings in shares of Maravai LifeSciences by 0.7% during the third quarter. Kornitzer Capital Management Inc. KS now owns 519,890 shares of the company's stock worth $4,320,000 after purchasing an additional 3,725 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Maravai LifeSciences during the second quarter worth $32,000. Venturi Wealth Management LLC bought a new stake in shares of Maravai LifeSciences in the third quarter worth $47,000. Finally, FNY Investment Advisers LLC increased its holdings 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 purchasing an additional 6,000 shares during the period. 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.