Maravai LifeSciences (NASDAQ:MRVI) Trading Down 4.8% – What’s Next?

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) fell 4.8% during mid-day trading on Wednesday . The stock traded as low as $5.53 and last traded at $5.53. 201,882 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 2,216,305 shares. The stock had previously closed at $5.81.

Wall Street Analyst Weigh In

MRVI has been the subject of a number of recent research reports. Royal Bank of Canada decreased their price target on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Robert W. Baird decreased their price objective on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Wolfe Research initiated coverage on Maravai LifeSciences in a research note on Thursday, November 14th. They set a “peer perform” rating for the company. William Blair reiterated a “market perform” rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. Finally, The Goldman Sachs Group downgraded shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $7.00 to $4.25 in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.28.

Maravai LifeSciences Price Performance

The company has a market cap of $1.44 billion, a PE ratio of -3.47 and a beta of -0.08. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. The stock has a fifty day moving average price of $6.44 and a 200-day moving average price of $7.68.

Insider Activity at Maravai LifeSciences

In related news, insider Carl Hull acquired 175,000 shares of the stock in a transaction dated Monday, November 11th. The shares were bought at an average cost of $5.64 per share, for a total transaction of $987,000.00. Following the purchase, the insider now owns 175,000 shares in the company, valued at approximately $987,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.63% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MRVI. Millennium Management LLC lifted its holdings in Maravai LifeSciences by 12.3% during the 2nd quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock valued at $42,735,000 after purchasing an additional 653,639 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Maravai LifeSciences by 16.8% in the second quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock valued at $41,962,000 after acquiring an additional 844,325 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Maravai LifeSciences by 15.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,550,503 shares of the company’s stock valued at $32,582,000 after purchasing an additional 598,530 shares in the last quarter. Renaissance Technologies LLC raised its position in Maravai LifeSciences by 20.8% in the 2nd quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock valued at $27,791,000 after purchasing an additional 668,552 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in Maravai LifeSciences by 149.6% in the second quarter. Point72 Asset Management L.P. now owns 3,519,561 shares of the company’s stock worth $25,200,000 after purchasing an additional 2,109,199 shares in the last quarter. 50.25% of the stock is 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.