Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report)'s stock price rose 8.5% during mid-day trading on Wednesday . The company traded as high as $3.06 and last traded at $3.12. Approximately 232,879 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 2,213,319 shares. The stock had previously closed at $2.87.
Analysts Set New Price Targets
Separately, Royal Bank Of Canada cut their target price on Maravai LifeSciences from $7.00 to $5.00 and set an "outperform" rating for the company in a research note 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 company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $5.22.
Read Our Latest Research Report on MRVI
Maravai LifeSciences Trading Up 8.9%
The business's 50 day simple moving average is $2.53 and its two-hundred day simple moving average is $2.33. The stock has a market cap of $798.01 million, a P/E ratio of -2.31 and a beta of 0.29. The company has a quick ratio of 4.49, a current ratio of 5.16 and a debt-to-equity ratio of 0.68.
Institutional Trading of Maravai LifeSciences
Hedge funds have recently made changes to their positions in the company. Callan Family Office LLC bought a new stake in shares of Maravai LifeSciences during the second quarter worth about $25,000. Ethic Inc. bought a new stake in Maravai LifeSciences during the 2nd quarter worth approximately $26,000. McAdam LLC bought a new stake in Maravai LifeSciences during the 1st quarter worth approximately $31,000. EntryPoint Capital LLC acquired a new stake in shares of Maravai LifeSciences in the first quarter valued at about $32,000. Finally, Prudential Financial Inc. bought a new position in Maravai LifeSciences during the second quarter worth $36,000. 50.25% of the stock is owned by institutional investors and hedge funds.
About Maravai LifeSciences
(
Get Free Report)
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.
Further Reading
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