Carl Hull Acquires 175,000 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Stock

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) insider Carl Hull purchased 175,000 shares of Maravai LifeSciences stock in a transaction that occurred on Monday, November 11th. The shares were bought 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 owns 175,000 shares of the company’s stock, valued at $987,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Maravai LifeSciences Price Performance

NASDAQ:MRVI opened at $5.63 on Thursday. The stock has a 50 day moving average of $7.97 and a two-hundred day moving average of $8.48. Maravai LifeSciences Holdings, Inc. has a 12 month low of $4.68 and a 12 month high of $11.56. The firm has a market cap of $1.42 billion, a P/E ratio of -3.43 and a beta of 0.02. The company has a current ratio of 10.00, a quick ratio of 9.28 and a debt-to-equity ratio of 0.71.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MRVI shares. Morgan Stanley cut shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $11.00 to $10.00 in a research note on Tuesday, August 13th. William Blair reiterated a “market perform” rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. The Goldman Sachs Group dropped their target price on Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 8th. Wells Fargo & Company initiated 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. Finally, UBS Group raised their price objective on Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $10.33.

Institutional Trading of Maravai LifeSciences

Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in Maravai LifeSciences by 30.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 506,413 shares of the company’s stock worth $3,626,000 after purchasing an additional 117,120 shares during the last quarter. Dragoneer Investment Group LLC purchased a new stake in Maravai LifeSciences during the 2nd quarter valued at about $5,373,000. Bamco Inc. NY raised its holdings in Maravai LifeSciences by 43.1% in the 1st quarter. Bamco Inc. NY now owns 2,123,651 shares of the company’s stock valued at $18,412,000 after acquiring an additional 640,000 shares during the last quarter. Lazard Asset Management LLC lifted its stake in Maravai LifeSciences by 6,252.8% in the 1st quarter. Lazard Asset Management LLC now owns 365,159 shares of the company’s stock worth $3,165,000 after purchasing an additional 359,411 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Maravai LifeSciences by 62.4% during the 2nd quarter. Principal Financial Group Inc. now owns 666,187 shares of the company’s stock worth $4,770,000 after purchasing an additional 255,990 shares during the last quarter. 50.25% of the stock is currently owned by hedge funds and other 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.