Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) was up 4.7% during trading on Tuesday . The stock traded as high as $2.36 and last traded at $2.35. Approximately 347,097 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 2,271,744 shares. The stock had previously closed at $2.24.
Analyst Ratings Changes
Several brokerages recently weighed in on MRVI. UBS Group cut their target price on shares of Maravai LifeSciences from $8.00 to $2.50 and set a "neutral" rating on the stock in a research note on Friday, March 21st. Morgan Stanley cut their price objective on Maravai LifeSciences from $7.00 to $5.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Stifel Nicolaus set a $5.00 target price on Maravai LifeSciences in a report on Friday, March 21st. The Goldman Sachs Group cut Maravai LifeSciences from a "neutral" rating to a "sell" rating and lowered their target price for the stock from $7.00 to $4.25 in a research note on Thursday, December 5th. Finally, Baird R W lowered Maravai LifeSciences from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $7.31.
View Our Latest Research Report on MRVI
Maravai LifeSciences Stock Up 0.4 %
The firm has a 50-day moving average price of $3.73 and a two-hundred day moving average price of $5.61. 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 market cap of $595.97 million, a price-to-earnings ratio of -1.44 and a beta of -0.08.
Insiders Place Their Bets
In related news, General Counsel Kurt Oreshack sold 25,000 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $5.03, for a total value of $125,750.00. Following the transaction, the general counsel now directly owns 167,618 shares of the company's stock, valued at $843,118.54. This trade represents a 12.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.63% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Maravai LifeSciences
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in shares of Maravai LifeSciences by 1,172.4% during the third quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company's stock worth $33,658,000 after purchasing an additional 3,731,924 shares in the last quarter. Barclays PLC grew its stake in Maravai LifeSciences by 349.2% during the 3rd quarter. Barclays PLC now owns 184,189 shares of the company's stock worth $1,531,000 after buying an additional 143,184 shares during the last quarter. Systematic Financial Management LP increased its position in Maravai LifeSciences by 14.7% during the third quarter. Systematic Financial Management LP now owns 1,612,161 shares of the company's stock worth $13,397,000 after buying an additional 206,499 shares during the period. Empowered Funds LLC purchased a new stake in Maravai LifeSciences in the fourth quarter valued at approximately $155,000. Finally, Bleakley Financial Group LLC boosted its holdings in shares of Maravai LifeSciences by 30.1% in the fourth quarter. Bleakley Financial Group LLC now owns 41,691 shares of the company's stock valued at $227,000 after acquiring an additional 9,657 shares during the period. 50.25% of the stock is owned by hedge funds and other institutional investors.
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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