Maravai LifeSciences (NASDAQ:MRVI) Sets New 12-Month Low – Here’s What Happened

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) hit a new 52-week low during trading on Monday . The company traded as low as $4.32 and last traded at $4.32, with a volume of 891466 shares traded. The stock had previously closed at $4.42.

Analyst Ratings Changes

A number of brokerages recently issued reports on MRVI. Robert W. Baird lowered their price target on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Wells Fargo & Company initiated coverage on Maravai LifeSciences in a research note on Tuesday, August 27th. They set an “overweight” rating and a $10.00 target price for the company. UBS Group increased their price objective on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Royal Bank of Canada decreased 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 note on Friday, November 8th. Finally, The Goldman Sachs Group reduced their target price on Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.33.

Maravai LifeSciences Stock Up 2.9 %

The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.28. The company has a market capitalization of $1.15 billion, a PE ratio of -2.70 and a beta of 0.02. The business’s 50 day simple moving average is $7.76 and its 200 day simple moving average is $8.42.

Insider Activity at Maravai LifeSciences

In other news, insider Carl Hull bought 175,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were purchased at an average price of $5.64 per share, with a total value of $987,000.00. Following the purchase, the insider now owns 175,000 shares in the company, valued at approximately $987,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Maravai LifeSciences

Several large investors have recently bought and sold shares of the stock. Neo Ivy Capital Management purchased a new stake in shares of Maravai LifeSciences during the third quarter worth approximately $136,000. Geode Capital Management LLC raised its holdings in shares of Maravai LifeSciences by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,752,077 shares of the company’s stock valued at $22,874,000 after purchasing an additional 162,601 shares in the last quarter. Barclays PLC lifted its position in shares of Maravai LifeSciences by 349.2% during the 3rd quarter. Barclays PLC now owns 184,189 shares of the company’s stock worth $1,531,000 after purchasing an additional 143,184 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Maravai LifeSciences during the 3rd quarter worth about $105,000. Finally, Orion Portfolio Solutions LLC increased its holdings in shares of Maravai LifeSciences by 4.8% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 135,749 shares of the company’s stock valued at $1,128,000 after acquiring an additional 6,177 shares during the last quarter. Hedge funds and other institutional investors own 50.25% of the company’s stock.

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.