Maravai LifeSciences (NASDAQ:MRVI) Shares Gap Up – Here’s Why

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $3.26, but opened at $3.58. Maravai LifeSciences shares last traded at $3.5950, with a volume of 1,118,615 shares.

Analysts Set New Price Targets

Separately, Wells Fargo & Company boosted their price objective on shares of Maravai LifeSciences from $4.00 to $4.50 and gave the company an “overweight” rating in a research report on Monday, December 15th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.25.

Maravai LifeSciences Price Performance

The firm has a market capitalization of $913.65 million, a P/E ratio of -4.23 and a beta of 0.39. The company has a debt-to-equity ratio of 0.74, a quick ratio of 4.56 and a current ratio of 5.29. The business has a 50 day simple moving average of $3.43 and a two-hundred day simple moving average of $3.19.

Insider Buying and Selling

In other news, Director Gregory T. Lucier acquired 48,528 shares of Maravai LifeSciences stock in a transaction on Monday, December 8th. The shares were acquired at an average price of $3.67 per share, with a total value of $178,097.76. Following the purchase, the director directly owned 155,123 shares in the company, valued at $569,301.41. The trade was a 45.53% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Maravai LifeSciences

Institutional investors have recently bought and sold shares of the company. Barclays PLC raised its holdings in shares of Maravai LifeSciences by 3.0% during the fourth quarter. Barclays PLC now owns 172,281 shares of the company’s stock worth $560,000 after purchasing an additional 5,057 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Maravai LifeSciences by 12.5% in the second quarter. The Manufacturers Life Insurance Company now owns 46,528 shares of the company’s stock valued at $112,000 after acquiring an additional 5,160 shares in the last quarter. Performa Ltd US LLC raised its stake in Maravai LifeSciences by 33.3% in the second quarter. Performa Ltd US LLC now owns 22,990 shares of the company’s stock valued at $55,000 after buying an additional 5,740 shares in the last quarter. Epacria Capital Partners LLC grew its holdings in shares of Maravai LifeSciences by 6.8% during the third quarter. Epacria Capital Partners LLC now owns 100,078 shares of the company’s stock worth $287,000 after purchasing an additional 6,384 shares during the last quarter. Finally, Ethic Inc. raised its holdings in shares of Maravai LifeSciences by 62.8% in the third quarter. Ethic Inc. now owns 16,951 shares of the company’s stock valued at $49,000 after buying an additional 6,540 shares during the last quarter. 50.25% of the stock is currently owned by institutional investors and hedge funds.

About Maravai LifeSciences

Maravai LifeSciences Holdings, Inc (NASDAQ: MRVI) is a life sciences company specializing in the development and supply of critical reagents and services for the development and manufacture of biologic therapies. The company’s offerings support a range of applications in genomics, molecular diagnostics, vaccine development and next-generation sequencing. Maravai’s platforms address key challenges in nucleic acid production, protein detection, epigenetic analysis and reagent quality across the biopharmaceutical industry.

Through its product portfolio, which includes proprietary mRNA capping reagents, lipid nanoparticle delivery systems, synthetic oligonucleotides and high-precision assay kits, Maravai enables customers to accelerate research and streamline manufacturing workflows.