Maravai LifeSciences (NASDAQ:MRVI) Shares Down 3.9% - Here's What Happened

Key Points

• Maravai LifeSciences stock experienced a 3.9% decline, trading as low as $2.74, with significantly reduced trading volume—down 85% from the average.
• Royal Bank of Canada lowered its price target for Maravai from $7.00 to $5.00 while maintaining an "outperform" rating, contributing to an average rating of "Hold" from analysts.
• Recent institutional investments include ProShare Advisors increasing its stake by 89.8%, indicating strong interest despite the stock's current challenges.

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report)'s share price dropped 3.9% on Friday . The stock traded as low as $2.74 and last traded at $2.77. Approximately 337,868 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 2,251,662 shares. The stock had previously closed at $2.88.

Wall Street Analysts Forecast Growth

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

Maravai LifeSciences Stock Up 1.9%

The firm has a fifty day moving average of $2.50 and a two-hundred day moving average of $2.32. 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 Investors Weigh In On Maravai LifeSciences

A number of large investors have recently bought and sold shares of the company. 12 West Capital Management LP increased its stake in shares of Maravai LifeSciences by 8.0% in the 1st quarter. 12 West Capital Management LP now owns 12,521,335 shares of the company's stock valued at $27,672,000 after purchasing an additional 930,000 shares in the last quarter. Mirabella Financial Services LLP grew its holdings in Maravai LifeSciences by 0.3% in the 2nd quarter. Mirabella Financial Services LLP now owns 3,750,000 shares of the company's stock valued at $9,038,000 after buying an additional 10,049 shares in the last quarter. Geode Capital Management LLC grew its holdings in Maravai LifeSciences by 12.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,984,045 shares of the company's stock valued at $7,193,000 after buying an additional 319,679 shares in the last quarter. Philosophy Capital Management LLC purchased a new position in shares of Maravai LifeSciences during the 1st quarter worth $5,731,000. Finally, Deutsche Bank AG increased its position in shares of Maravai LifeSciences by 67.6% during the first quarter. Deutsche Bank AG now owns 2,072,239 shares of the company's stock valued at $4,580,000 after acquiring an additional 835,600 shares during the last quarter. 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.