Maravai LifeSciences (NASDAQ:MRVI) Trading Up 8.3% – Here’s What Happened

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s share price shot up 8.3% during mid-day trading on Tuesday . The company traded as high as $5.85 and last traded at $5.73. 1,957,260 shares were traded during mid-day trading, a decline of 13% from the average session volume of 2,257,942 shares. The stock had previously closed at $5.29.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MRVI shares. UBS Group boosted their price objective on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. William Blair reaffirmed a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Wells Fargo & Company started coverage on Maravai LifeSciences in a report on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price target for the company. Royal Bank of Canada decreased 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 note on Friday, November 8th. Finally, Wolfe Research initiated coverage on Maravai LifeSciences in a report on Thursday, November 14th. They set a “peer perform” rating for the company. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Maravai LifeSciences has an average rating of “Moderate Buy” and a consensus target price of $10.33.

Maravai LifeSciences Price Performance

The stock has a market capitalization of $1.42 billion, a P/E ratio of -3.48 and a beta of 0.02. The business has a fifty day simple moving average of $7.29 and a 200 day simple moving average of $8.24. 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 news, insider Carl Hull bought 175,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was bought at an average price of $5.64 per share, with a total value of $987,000.00. Following the acquisition, the insider now owns 175,000 shares of the company’s stock, valued at approximately $987,000. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.63% of the company’s stock.

Institutional Trading of Maravai LifeSciences

Several institutional investors and hedge funds have recently made changes to their positions in the company. Point72 DIFC Ltd acquired a new stake in shares of Maravai LifeSciences during the 3rd quarter worth approximately $22,108,000. Point72 Asset Management L.P. increased its holdings 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 valued at $25,200,000 after acquiring an additional 2,109,199 shares in the last quarter. Mackenzie Financial Corp boosted its position in Maravai LifeSciences by 16.8% during the second 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 during the last quarter. Dragoneer Investment Group LLC purchased a new position in Maravai LifeSciences in the second quarter valued at approximately $5,373,000. Finally, Renaissance Technologies LLC lifted its holdings in Maravai LifeSciences by 20.8% during the 2nd quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock worth $27,791,000 after buying an additional 668,552 shares during the last quarter. 50.25% of the stock is currently owned by institutional investors.

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.