Maravai LifeSciences (NASDAQ:MRVI) Trading Down 3.5% – Time to Sell?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s share price traded down 3.5% on Friday . The company traded as low as $5.67 and last traded at $5.71. 220,684 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 2,255,906 shares. The stock had previously closed at $5.92.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MRVI shares. UBS Group upped their price objective on Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. William Blair reaffirmed a “market perform” rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. Morgan Stanley cut shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $11.00 to $10.00 in a research note on Tuesday, August 13th. Royal Bank of Canada decreased their price objective on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Finally, The Goldman Sachs Group dropped their target price on shares of Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Maravai LifeSciences presently has an average rating of “Moderate Buy” and an average target price of $10.33.

Maravai LifeSciences Stock Down 4.2 %

The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89. The firm’s fifty day simple moving average is $7.04 and its 200-day simple moving average is $8.12. The company has a market cap of $1.43 billion, a PE ratio of -3.46 and a beta of 0.02.

Insider Activity at Maravai LifeSciences

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

Institutional Investors Weigh In On Maravai LifeSciences

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC lifted its stake 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 valued at $26,000 after buying an additional 2,711 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Maravai LifeSciences during the 2nd quarter worth $32,000. Venturi Wealth Management LLC purchased a new position in shares of Maravai LifeSciences during the 3rd quarter worth $47,000. Blue Trust Inc. acquired a new stake in shares of Maravai LifeSciences during the second quarter worth $44,000. Finally, Custom Index Systems LLC purchased a new stake in shares of Maravai LifeSciences in the third quarter valued at $97,000. 50.25% of the stock is owned by institutional investors and hedge funds.

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.