Maravai LifeSciences (NASDAQ:MRVI) Sets New 12-Month High – What’s Next?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $5.33 and last traded at $5.25, with a volume of 1467997 shares changing hands. The stock had previously closed at $5.20.

Analyst Upgrades and Downgrades

MRVI has been the subject of several recent analyst reports. UBS Group reaffirmed a “reduce” rating on shares of Maravai LifeSciences in a research report on Wednesday, June 3rd. Weiss Ratings raised Maravai LifeSciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 29th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $6.00 price objective on shares of Maravai LifeSciences in a research report on Friday, May 8th. Wall Street Zen raised Maravai LifeSciences from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Finally, Wells Fargo & Company upped their target price on Maravai LifeSciences from $4.50 to $5.50 and gave the company an “overweight” rating in a report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.50.

Maravai LifeSciences Stock Performance

The firm’s fifty day moving average price is $4.42 and its 200 day moving average price is $3.74. The company has a current ratio of 5.91, a quick ratio of 4.96 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $1.49 billion, a PE ratio of -8.11 and a beta of 0.72.

Maravai LifeSciences (NASDAQ:MRVI) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.06. The business had revenue of $65.84 million for the quarter, compared to the consensus estimate of $53.00 million. Maravai LifeSciences had a negative net margin of 51.07% and a negative return on equity of 17.87%. On average, research analysts anticipate that Maravai LifeSciences Holdings, Inc. will post -0.2 earnings per share for the current year.

Insiders Place Their Bets

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $5.06, for a total value of $126,500.00. Following the transaction, the general counsel directly owned 360,767 shares of the company’s stock, valued at $1,825,481.02. This represents a 6.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.49% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Maravai LifeSciences

A number of hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake in Maravai LifeSciences by 49.0% in the first quarter. Royal Bank of Canada now owns 9,761 shares of the company’s stock valued at $27,000 after acquiring an additional 3,209 shares during the last quarter. Sprott Inc. bought a new stake in Maravai LifeSciences in the third quarter worth approximately $29,000. Virtu Financial LLC acquired a new position in shares of Maravai LifeSciences during the 4th quarter worth $34,000. Insigneo Advisory Services LLC acquired a new position in shares of Maravai LifeSciences during the 4th quarter worth $34,000. Finally, Quantessence Capital LLC bought a new position in shares of Maravai LifeSciences during the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 50.25% of the company’s stock.

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.