Maravai LifeSciences (NASDAQ:MRVI) Trading Down 3.5% - What's Next?

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) fell 3.5% during mid-day trading on Friday . The company traded as low as $5.67 and last traded at $5.71. 220,684 shares were traded during trading, a decline of 90% from the average session volume of 2,255,906 shares. The stock had previously closed at $5.92.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Wolfe Research started coverage on Maravai LifeSciences in a research report on Thursday, November 14th. They set a "peer perform" rating for the company. Robert W. Baird decreased their price objective on shares of Maravai LifeSciences from $10.00 to $9.00 and set an "outperform" rating for the company in a report on Friday, November 8th. Morgan Stanley downgraded shares of Maravai LifeSciences from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $11.00 to $10.00 in a research note on Tuesday, August 13th. UBS Group lifted their price target on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the company a "neutral" rating in a research note on Thursday, August 8th. Finally, Royal Bank of Canada lowered their price target on Maravai LifeSciences from $17.00 to $13.00 and set an "outperform" rating for the company in a report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.33.

Maravai LifeSciences Stock Down 4.2 %

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 has a market cap of $1.43 billion, a PE ratio of -3.46 and a beta of 0.02. The business has a fifty day simple moving average of $7.04 and a two-hundred day simple moving average of $8.12.

Insider Transactions at Maravai LifeSciences

In other Maravai LifeSciences news, insider Carl Hull acquired 175,000 shares of the company's stock in a transaction dated Monday, November 11th. The shares were acquired at an average price of $5.64 per share, for a total transaction of $987,000.00. Following the acquisition, the insider now owns 175,000 shares in the company, valued at $987,000. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.63% of the company's stock.

Hedge Funds Weigh In On Maravai LifeSciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 DIFC Ltd acquired a new stake in Maravai LifeSciences during the third quarter worth approximately $22,108,000. Point72 Asset Management L.P. raised its stake in Maravai LifeSciences by 149.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,519,561 shares of the company's stock worth $25,200,000 after acquiring an additional 2,109,199 shares in the last quarter. Mackenzie Financial Corp raised its stake in Maravai LifeSciences by 16.8% during the 2nd quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company's stock worth $41,962,000 after acquiring an additional 844,325 shares in the last quarter. Dragoneer Investment Group LLC purchased a new stake in Maravai LifeSciences in the second quarter valued at $5,373,000. Finally, Renaissance Technologies LLC boosted its stake in Maravai LifeSciences by 20.8% in the second quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company's stock valued at $27,791,000 after acquiring an additional 668,552 shares in the last quarter. 50.25% of the stock is owned by institutional investors and hedge funds.

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.