Maravai LifeSciences (NASDAQ:MRVI) Trading Up 3.8% - Here's Why

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) shot up 3.8% on Tuesday . The company traded as high as $5.87 and last traded at $5.79. 306,175 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 2,216,026 shares. The stock had previously closed at $5.58.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MRVI shares. Royal Bank of Canada cut their price target on shares of Maravai LifeSciences from $17.00 to $13.00 and set an "outperform" rating on the stock in a research report on Friday, November 8th. William Blair reaffirmed a "market perform" rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. Wolfe Research started coverage on shares of Maravai LifeSciences in a research report on Thursday, November 14th. They set a "peer perform" rating on the stock. Robert W. Baird cut their price target on shares of Maravai LifeSciences from $10.00 to $9.00 and set an "outperform" rating on the stock in a research report on Friday, November 8th. Finally, The Goldman Sachs Group cut shares of Maravai LifeSciences from a "neutral" rating to a "sell" rating and cut their price target for the company from $7.00 to $4.25 in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $10.28.

Maravai LifeSciences Stock Up 4.0 %

The company has a market cap of $1.47 billion, a P/E ratio of -3.54 and a beta of -0.08. The stock's 50-day moving average price is $6.44 and its 200-day moving average price is $7.68. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89.

Insider Transactions at Maravai LifeSciences

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

Institutional Investors Weigh In On Maravai LifeSciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Maravai LifeSciences in the 2nd quarter worth approximately $32,000. Blue Trust Inc. bought a new position in Maravai LifeSciences in the 2nd quarter valued at $44,000. Venturi Wealth Management LLC bought a new position in Maravai LifeSciences in the 3rd quarter valued at $47,000. Custom Index Systems LLC bought a new stake in shares of Maravai LifeSciences during the 3rd quarter worth $97,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Maravai LifeSciences during the 3rd quarter worth $105,000. Hedge funds and other institutional investors own 50.25% of the company's stock.

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.