Maravai LifeSciences (NASDAQ:MRVI) Shares Gap Up Following Insider Buying Activity

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) gapped up before the market opened on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $5.70, but opened at $6.32. Maravai LifeSciences shares last traded at $5.84, with a volume of 370,761 shares traded.

Specifically, insider Carl Hull acquired 175,000 shares of the company’s stock in a transaction on 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 acquisition, the insider now directly owns 175,000 shares of the company’s stock, valued at $987,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analysts Forecast Growth

MRVI has been the subject of a number of recent analyst reports. Wolfe Research started coverage on shares of Maravai LifeSciences in a research report on Thursday. They set a “peer perform” rating for the company. Robert W. Baird decreased their price objective on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, November 8th. UBS Group upped their target price on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Royal Bank of Canada reduced 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 report on Friday, November 8th. Finally, Wells Fargo & Company assumed coverage on Maravai LifeSciences in a report on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.33.

Maravai LifeSciences Price Performance

The company has a market capitalization of $1.31 billion, a P/E ratio of -3.18 and a beta of 0.02. The company has a debt-to-equity ratio of 0.71, a current ratio of 10.00 and a quick ratio of 9.28. The company has a fifty day moving average price of $7.92 and a 200 day moving average price of $8.46.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in shares of Maravai LifeSciences by 310.2% during the second quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock worth $26,000 after acquiring an additional 2,711 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Maravai LifeSciences in the 2nd quarter worth about $32,000. Headlands Technologies LLC bought a new position in Maravai LifeSciences in the 1st quarter worth about $42,000. Venturi Wealth Management LLC acquired a new stake in shares of Maravai LifeSciences in the third quarter valued at approximately $47,000. Finally, Blue Trust Inc. bought a new stake in shares of Maravai LifeSciences during the second quarter valued at approximately $44,000. 50.25% of the stock is currently owned by institutional investors.

Maravai LifeSciences Company Profile

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.