Maravai LifeSciences (NASDAQ:MRVI) Releases FY 2022 Earnings Guidance

Maravai LifeSciences (NASDAQ:MRVIGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.70-$1.80 for the period, compared to the consensus estimate of $1.84. The company issued revenue guidance of $880.00 million-$910.00 million, compared to the consensus revenue estimate of $935.26 million. Maravai LifeSciences also updated its FY22 guidance to $1.70-1.80 EPS.

Maravai LifeSciences Stock Up 2.3 %

Shares of MRVI stock traded up $0.60 during trading hours on Friday, hitting $26.88. 2,454,815 shares of the company were exchanged, compared to its average volume of 1,401,604. The business has a 50 day moving average of $27.91 and a two-hundred day moving average of $31.60. The company has a current ratio of 7.14, a quick ratio of 6.55 and a debt-to-equity ratio of 0.80. Maravai LifeSciences has a 52 week low of $23.05 and a 52 week high of $63.55. The company has a market capitalization of $6.86 billion, a PE ratio of 16.00 and a beta of 0.53.

Maravai LifeSciences (NASDAQ:MRVIGet Rating) last released its earnings results on Thursday, May 5th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.11. Maravai LifeSciences had a net margin of 26.97% and a return on equity of 91.57%. The business had revenue of $244.30 million during the quarter, compared to the consensus estimate of $232.29 million. During the same quarter last year, the firm earned $0.26 earnings per share. The firm’s revenue for the quarter was up 64.8% compared to the same quarter last year. Analysts anticipate that Maravai LifeSciences will post 1.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on MRVI shares. Robert W. Baird dropped their price objective on shares of Maravai LifeSciences from $40.00 to $34.00 in a research note on Friday. TheStreet lowered shares of Maravai LifeSciences from a c- rating to a d+ rating in a report on Tuesday, July 26th. Finally, The Goldman Sachs Group dropped their price target on shares of Maravai LifeSciences from $44.00 to $35.00 and set a buy rating on the stock in a research report on Thursday, July 14th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Maravai LifeSciences currently has a consensus rating of Buy and a consensus price target of $47.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MRVI. State Street Corp boosted its holdings in Maravai LifeSciences by 12.5% in the first quarter. State Street Corp now owns 1,810,317 shares of the company’s stock valued at $63,850,000 after acquiring an additional 201,284 shares in the last quarter. Renaissance Technologies LLC lifted its position in Maravai LifeSciences by 67.6% during the first quarter. Renaissance Technologies LLC now owns 913,200 shares of the company’s stock valued at $32,209,000 after buying an additional 368,400 shares during the period. Alyeska Investment Group L.P. purchased a new position in Maravai LifeSciences during the first quarter valued at $30,902,000. Charles Schwab Investment Management Inc. lifted its position in Maravai LifeSciences by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 603,171 shares of the company’s stock valued at $21,274,000 after buying an additional 14,732 shares during the period. Finally, First Trust Advisors LP lifted its position in Maravai LifeSciences by 171.4% during the first quarter. First Trust Advisors LP now owns 508,313 shares of the company’s stock valued at $17,928,000 after buying an additional 320,994 shares during the period. Institutional investors own 50.18% of the company’s stock.

About Maravai LifeSciences

(Get Rating)

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 in the United States and internationally. 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.

Recommended Stories

Earnings History and Estimates for Maravai LifeSciences (NASDAQ:MRVI)

Receive News & Ratings for Maravai LifeSciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Maravai LifeSciences and related companies with MarketBeat.com's FREE daily email newsletter.