Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Receives Average Recommendation of “Moderate Buy” from Analysts

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) has been assigned an average recommendation of “Moderate Buy” from the eleven analysts that are currently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $10.33.

Several research analysts recently commented on MRVI shares. Royal Bank of Canada cut their price objective on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, November 8th. William Blair reaffirmed a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. UBS Group raised their price objective on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Morgan Stanley cut shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $11.00 to $10.00 in a research note on Tuesday, August 13th. Finally, Wells Fargo & Company assumed coverage on shares of Maravai LifeSciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 target price on the stock.

Maravai LifeSciences Stock Up 2.9 %

MRVI opened at $4.96 on Friday. The company has a 50 day moving average of $7.43 and a 200 day moving average of $8.31. The company has a market cap of $1.25 billion, a PE ratio of -3.02 and a beta of 0.02. Maravai LifeSciences has a 12 month low of $4.28 and a 12 month high of $11.56. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89.

Insider Activity

In related news, insider Carl Hull acquired 175,000 shares of the stock in a transaction dated Monday, November 11th. The shares were 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 represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.63% of the company’s stock.

Institutional Trading of Maravai LifeSciences

Several institutional investors and hedge funds have recently made changes to their positions in MRVI. GAMMA Investing LLC lifted its stake in Maravai LifeSciences by 310.2% in the second quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock worth $26,000 after purchasing an additional 2,711 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Maravai LifeSciences in the second quarter worth $32,000. Blue Trust Inc. bought a new stake in Maravai LifeSciences in the second quarter worth $44,000. Venturi Wealth Management LLC bought a new stake in Maravai LifeSciences in the third quarter worth $47,000. Finally, Custom Index Systems LLC bought a new stake in Maravai LifeSciences in the third quarter worth $97,000. Hedge funds and other institutional investors own 50.25% of the company’s stock.

About Maravai LifeSciences

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.