Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) traded up 7.4% on Friday . The stock traded as high as $3.30 and last traded at $3.28. 1,591,741 shares were traded during trading, a decline of 45% from the average session volume of 2,889,668 shares. The stock had previously closed at $3.05.
Several equities research analysts recently weighed in on the company. Robert W. Baird cut Maravai LifeSciences from an "outperform" rating to a "neutral" rating and dropped their target price for the company from $9.00 to $3.00 in a report on Wednesday. The Goldman Sachs Group cut Maravai LifeSciences from a "neutral" rating to a "sell" rating and dropped their target price for the company from $7.00 to $4.25 in a report on Thursday, December 5th. Wolfe Research assumed coverage on Maravai LifeSciences in a report on Thursday, November 14th. They issued a "peer perform" rating for the company. Royal Bank of Canada dropped their price objective on Maravai LifeSciences from $17.00 to $13.00 and set an "outperform" rating for the company in a report on Friday, November 8th. Finally, Baird R W cut Maravai LifeSciences from a "strong-buy" rating to a "hold" rating in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $9.46.
Get Our Latest Report on MRVI
The company has a market cap of $813.14 million, a PE ratio of -1.96 and a beta of -0.08. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89. The stock has a 50 day moving average price of $4.84 and a 200 day moving average price of $6.48.
In related news, General Counsel Kurt Oreshack sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $5.03, for a total transaction of $125,750.00. Following the completion of the transaction, the general counsel now 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 Securities & Exchange Commission, which is available at this hyperlink. 0.63% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Performa Ltd US LLC increased its position in Maravai LifeSciences by 614.3% during the 4th quarter. Performa Ltd US LLC now owns 5,000 shares of the company's stock valued at $27,000 after buying an additional 4,300 shares in the last quarter. FNY Investment Advisers LLC increased its position in Maravai LifeSciences by 600.0% during the 4th quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company's stock valued at $38,000 after buying an additional 6,000 shares in the last quarter. Venturi Wealth Management LLC bought a new position in Maravai LifeSciences during the 3rd quarter valued at approximately $47,000. Farther Finance Advisors LLC increased its position in Maravai LifeSciences by 3,541.4% during the 4th quarter. Farther Finance Advisors LLC now owns 10,196 shares of the company's stock valued at $56,000 after buying an additional 9,916 shares in the last quarter. Finally, Cibc World Markets Corp bought a new stake in shares of Maravai LifeSciences in the 4th quarter worth $56,000. Institutional investors own 50.25% of the company's stock.
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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