Maravai LifeSciences (NASDAQ:MRVI) Shares Gap Up on Insider Buying Activity

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price gapped up before the market opened on Wednesday following insider buying activity. The stock had previously closed at $5.70, but opened at $6.32. Maravai LifeSciences shares last traded at $5.84, with a volume of 370,761 shares traded.

Specifically, insider Carl Hull acquired 175,000 shares of Maravai LifeSciences stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average price of $5.64 per share, with a total value of $987,000.00. Following the completion of the acquisition, the insider now directly owns 175,000 shares of the company’s stock, valued at $987,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Upgrades and Downgrades

MRVI has been the topic of a number of recent analyst reports. William Blair restated a “market perform” rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. UBS Group upped their target price on Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Wells Fargo & Company initiated coverage on Maravai LifeSciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $10.00 price target on the stock. Morgan Stanley lowered Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $11.00 to $10.00 in a report on Tuesday, August 13th. Finally, Robert W. Baird lowered their target price on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.33.

Maravai LifeSciences Stock Performance

The firm has a fifty day moving average price of $7.92 and a 200 day moving average price of $8.46. The firm has a market capitalization of $1.31 billion, a PE ratio of -3.18 and a beta of 0.02. The company has a debt-to-equity ratio of 0.71, a current ratio of 10.00 and a quick ratio of 9.28.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. QRG Capital Management Inc. boosted its position in Maravai LifeSciences by 11.7% during the 1st quarter. QRG Capital Management Inc. now owns 17,143 shares of the company’s stock worth $149,000 after acquiring an additional 1,796 shares during the period. Creative Planning lifted its position in shares of Maravai LifeSciences by 4.4% in the third quarter. Creative Planning now owns 44,943 shares of the company’s stock worth $373,000 after purchasing an additional 1,881 shares in the last quarter. GAMMA Investing LLC boosted its holdings 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 worth $26,000 after purchasing an additional 2,711 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Maravai LifeSciences by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 73,595 shares of the company’s stock worth $639,000 after purchasing an additional 3,575 shares during the period. Finally, Kornitzer Capital Management Inc. KS grew its position in Maravai LifeSciences by 0.7% during the third quarter. Kornitzer Capital Management Inc. KS now owns 519,890 shares of the company’s stock valued at $4,320,000 after purchasing an additional 3,725 shares in 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.