Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) shares dropped 15.7% during trading on Friday . The stock traded as low as $5.05 and last traded at $5.17. Approximately 412,413 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 1,157,228 shares. The stock had previously closed at $6.13.
Wall Street Analysts Forecast Growth
MRVI has been the topic of several analyst reports. The Goldman Sachs Group cut Maravai LifeSciences from a "neutral" rating to a "sell" rating and lowered their target price for the company from $7.00 to $4.25 in a research report on Thursday, December 5th. Guggenheim assumed coverage on Maravai LifeSciences in a research report on Thursday, December 19th. They set a "neutral" rating on the stock. Robert W. Baird lowered their price target on Maravai LifeSciences from $10.00 to $9.00 and set an "outperform" rating on the stock in a research report on Friday, November 8th. Royal Bank of Canada lowered their price target on Maravai LifeSciences from $17.00 to $13.00 and set an "outperform" rating on the stock in a research report on Friday, November 8th. Finally, William Blair reiterated a "market perform" rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $10.28.
View Our Latest Analysis on MRVI
Maravai LifeSciences Trading Down 20.9 %
The firm has a market capitalization of $1.22 billion, a P/E ratio of -2.96 and a beta of -0.07. 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 firm has a 50 day moving average price of $5.70 and a two-hundred day moving average price of $7.42.
Insider Transactions at Maravai LifeSciences
In other Maravai LifeSciences news, insider Carl Hull bought 175,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the insider now directly owns 175,000 shares in the company, valued at approximately $987,000. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.63% of the stock is currently owned by insiders.
Institutional Trading of Maravai LifeSciences
A number of institutional investors have recently bought and sold shares of MRVI. Point72 Asia Singapore Pte. Ltd. bought a new position in Maravai LifeSciences during the second quarter valued at about $32,000. Venturi Wealth Management LLC bought a new position in Maravai LifeSciences during the third quarter valued at about $47,000. Custom Index Systems LLC bought a new position in Maravai LifeSciences during the third quarter valued at about $97,000. Y Intercept Hong Kong Ltd bought a new position in Maravai LifeSciences during the third quarter valued at about $105,000. Finally, Headlands Technologies LLC raised its holdings in Maravai LifeSciences by 205.9% during the second quarter. Headlands Technologies LLC now owns 14,935 shares of the company's stock valued at $107,000 after buying an additional 10,053 shares in the last quarter. Institutional investors and hedge funds own 50.25% of the company's stock.
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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