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

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price gapped down before the market opened 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 traded.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on MRVI shares. Royal Bank of Canada reduced 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 report on Friday, November 8th. Guggenheim started coverage on shares of Maravai LifeSciences in a research note on Thursday, December 19th. They issued a “neutral” rating for the company. Wolfe Research initiated coverage on Maravai LifeSciences in a research note on Thursday, November 14th. They issued a “peer perform” rating on the stock. The Goldman Sachs Group cut Maravai LifeSciences from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $7.00 to $4.25 in a research note on Thursday, December 5th. Finally, Robert W. Baird reduced their price target on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.28.

Maravai LifeSciences Stock Down 2.0 %

The firm has a 50-day moving average price of $6.01 and a two-hundred day moving average price of $7.52. 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 firm has a market cap of $1.39 billion, a price-to-earnings ratio of -3.35 and a beta of -0.07.

Insiders Place Their Bets

In other news, insider Carl Hull acquired 175,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were bought 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 owns 175,000 shares in the company, valued at $987,000. This trade represents a ? increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.63% of the stock is owned by corporate insiders.

Institutional Trading of Maravai LifeSciences

A number of large investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Maravai LifeSciences in the second quarter valued at approximately $32,000. Venturi Wealth Management LLC acquired a new position in shares of Maravai LifeSciences in the 3rd quarter valued at $47,000. Custom Index Systems LLC purchased a new stake in Maravai LifeSciences in the 3rd quarter valued at $97,000. Y Intercept Hong Kong Ltd acquired a new stake in Maravai LifeSciences during the 3rd quarter worth $105,000. Finally, Headlands Technologies LLC grew its position in Maravai LifeSciences by 205.9% during the 2nd quarter. Headlands Technologies LLC now owns 14,935 shares of the company’s stock worth $107,000 after purchasing an additional 10,053 shares during the last quarter. 50.25% of the stock is 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.