Maravai LifeSciences (NASDAQ:MRVI) Shares Gap Down – Time to Sell?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) shares gapped down prior to trading on Thursday . The stock had previously closed at $5.33, but opened at $5.22. Maravai LifeSciences shares last traded at $5.24, with a volume of 108,566 shares.

Analysts Set New Price Targets

Several research firms have recently issued reports on MRVI. William Blair reiterated a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Royal Bank of Canada dropped their target price on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Robert W. Baird cut their target price on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Guggenheim began coverage on Maravai LifeSciences in a research report on Thursday, December 19th. They issued a “neutral” rating for the company. Finally, The Goldman Sachs Group lowered shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $7.00 to $4.25 in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $10.28.

Maravai LifeSciences Stock Performance

The firm has a market cap of $1.37 billion, a P/E ratio of -3.32 and a beta of -0.07. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. The business’s 50-day simple moving average is $6.12 and its 200 day simple moving average is $7.55.

Insider Activity at Maravai LifeSciences

In other Maravai LifeSciences news, insider Carl Hull bought 175,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was bought at an average cost of $5.64 per share, for a total transaction of $987,000.00. Following the completion of the transaction, the insider now owns 175,000 shares of the company’s stock, valued at $987,000. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.63% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp raised its holdings in Maravai LifeSciences by 30.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 506,413 shares of the company’s stock worth $3,626,000 after purchasing an additional 117,120 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Maravai LifeSciences by 32.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,450 shares of the company’s stock valued at $182,000 after buying an additional 6,212 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Maravai LifeSciences by 62.4% in the 2nd quarter. Principal Financial Group Inc. now owns 666,187 shares of the company’s stock worth $4,770,000 after acquiring an additional 255,990 shares in the last quarter. Sivik Global Healthcare LLC raised its stake in Maravai LifeSciences by 23.3% during the 2nd quarter. Sivik Global Healthcare LLC now owns 450,000 shares of the company’s stock worth $3,222,000 after acquiring an additional 85,000 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Maravai LifeSciences by 30.4% during the second quarter. Rhumbline Advisers now owns 171,489 shares of the company’s stock valued at $1,228,000 after purchasing an additional 39,955 shares in 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.