Maravai LifeSciences (NASDAQ:MRVI) Stock Price Down 3.8% - Time to Sell?

Key Points

• Maravai LifeSciences shares dropped 3.8% to $2.69, with trading volume significantly down by 94% compared to the average.
• Royal Bank of Canada reduced their price target for Maravai from $7.00 to $5.00, with the stock receiving mixed ratings from analysts.
• Institutional investors currently own 50.25% of Maravai's stock, highlighting ongoing interest in the company despite recent share performance.

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report)'s stock price fell 3.8% on Friday . The company traded as low as $2.67 and last traded at $2.69. 148,109 shares changed hands during trading, a decline of 94% from the average session volume of 2,279,469 shares. The stock had previously closed at $2.79.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada lowered their price objective on shares of Maravai LifeSciences from $7.00 to $5.00 and set an "outperform" rating for the company in a research report on Tuesday, August 12th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $5.22.

Maravai LifeSciences Price Performance

The company has a debt-to-equity ratio of 0.68, a quick ratio of 4.49 and a current ratio of 5.16. The company has a market cap of $746.93 million, a PE ratio of -2.17 and a beta of 0.29. The company's 50-day simple moving average is $2.50 and its 200 day simple moving average is $2.32.

Hedge Funds Weigh In On Maravai LifeSciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Callan Family Office LLC purchased a new position in Maravai LifeSciences in the 2nd quarter valued at approximately $25,000. Ethic Inc. acquired a new stake in shares of Maravai LifeSciences in the 2nd quarter valued at $26,000. McAdam LLC acquired a new stake in shares of Maravai LifeSciences in the 1st quarter valued at $31,000. Sherbrooke Park Advisers LLC acquired a new stake in shares of Maravai LifeSciences in the 4th quarter valued at $78,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Maravai LifeSciences in the 1st quarter valued at $32,000. Hedge funds and other institutional investors own 50.25% of the company's stock.

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.