Maravai LifeSciences (NASDAQ:MRVI) Trading Up 4.6% - Here's What Happened

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report)'s share price traded up 4.6% during mid-day trading on Monday . The company traded as high as $2.17 and last traded at $2.17. 595,119 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 2,977,347 shares. The stock had previously closed at $2.07.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MRVI shares. Bank of America reduced their price objective on shares of Maravai LifeSciences from $9.00 to $8.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. UBS Group reduced their price target on shares of Maravai LifeSciences from $8.00 to $2.50 and set a "neutral" rating for the company in a research report on Friday, March 21st. Stifel Nicolaus set a $5.00 price objective on Maravai LifeSciences in a research report on Friday, March 21st. Robert W. Baird cut Maravai LifeSciences from an "outperform" rating to a "neutral" rating and reduced their target price for the stock from $9.00 to $3.00 in a research report on Wednesday, February 26th. Finally, Baird R W cut Maravai LifeSciences from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Maravai LifeSciences has an average rating of "Hold" and an average price target of $6.34.

Maravai LifeSciences Stock Performance

The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. The company has a 50 day simple moving average of $2.17 and a 200-day simple moving average of $4.21. The firm has a market cap of $506.13 million, a PE ratio of -1.21 and a beta of 0.19.

Hedge Funds Weigh In On Maravai LifeSciences

Several institutional investors and hedge funds have recently made changes to their positions in MRVI. CenterBook Partners LP boosted its position in Maravai LifeSciences by 67.2% during the first quarter. CenterBook Partners LP now owns 1,357,600 shares of the company's stock valued at $3,000,000 after buying an additional 545,674 shares during the period. Deutsche Bank AG boosted its holdings in Maravai LifeSciences by 67.6% during the 1st 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 period. Charles Schwab Investment Management Inc. grew its position in Maravai LifeSciences by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 950,747 shares of the company's stock worth $2,101,000 after acquiring an additional 44,258 shares during the last quarter. Performa Ltd US LLC increased its stake in Maravai LifeSciences by 245.0% in the 1st quarter. Performa Ltd US LLC now owns 17,250 shares of the company's stock worth $38,000 after purchasing an additional 12,250 shares during the period. Finally, Monaco Asset Management SAM lifted its position in Maravai LifeSciences by 186.9% in the first quarter. Monaco Asset Management SAM now owns 835,865 shares of the company's stock valued at $1,847,000 after purchasing an additional 544,501 shares during the last quarter. Institutional investors own 50.25% of the company's stock.

About Maravai LifeSciences

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.