Maravai LifeSciences (NASDAQ:MRVI) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) saw strong trading volume on Wednesday . 3,047,907 shares changed hands during mid-day trading, an increase of 30% from the previous session’s volume of 2,336,194 shares.The stock last traded at $2.18 and had previously closed at $2.16.

Wall Street Analyst Weigh In

A number of brokerages have commented on MRVI. Robert W. Baird downgraded Maravai LifeSciences from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $9.00 to $3.00 in a research report on Wednesday, February 26th. Bank of America reduced their target price on Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Stifel Nicolaus set a $5.00 target price on Maravai LifeSciences in a research note on Friday, March 21st. Morgan Stanley reduced their price target on shares of Maravai LifeSciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 25th. Finally, The Goldman Sachs Group cut shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $7.00 to $4.25 in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $7.31.

Maravai LifeSciences Trading Up 0.9 %

The stock has a market cap of $554.45 million, a price-to-earnings ratio of -1.33 and a beta of -0.08. The business has a 50-day simple moving average of $3.61 and a two-hundred day simple moving average of $5.48. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74.

Insider Activity

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $5.03, for a total transaction of $125,750.00. Following the sale, the general counsel now directly owns 167,618 shares in the company, valued at approximately $843,118.54. The trade was a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.63% of the company’s stock.

Institutional Trading of Maravai LifeSciences

A number of large investors have recently bought and sold shares of MRVI. JPMorgan Chase & Co. raised its stake in Maravai LifeSciences by 1,172.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company’s stock worth $33,658,000 after buying an additional 3,731,924 shares during the period. Barclays PLC lifted its position in Maravai LifeSciences by 349.2% in the 3rd quarter. Barclays PLC now owns 184,189 shares of the company’s stock valued at $1,531,000 after acquiring an additional 143,184 shares in the last quarter. Systematic Financial Management LP raised its stake in shares of Maravai LifeSciences by 14.7% in the third quarter. Systematic Financial Management LP now owns 1,612,161 shares of the company’s stock worth $13,397,000 after purchasing an additional 206,499 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Maravai LifeSciences in the fourth quarter valued at approximately $155,000. Finally, Bleakley Financial Group LLC boosted its holdings in Maravai LifeSciences by 30.1% during the 4th quarter. Bleakley Financial Group LLC now owns 41,691 shares of the company’s stock worth $227,000 after acquiring an additional 9,657 shares during the last quarter. 50.25% of the stock is currently 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.