Maravai LifeSciences (NASDAQ:MRVI) Trading Up 8.1%

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price rose 8.1% on Tuesday . The company traded as high as $8.10 and last traded at $7.97. Approximately 235,527 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 2,563,466 shares. The stock had previously closed at $7.37.

Wall Street Analysts Forecast Growth

MRVI has been the subject of a number of research reports. Stifel Nicolaus lowered their target price on Maravai LifeSciences from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. Royal Bank of Canada raised their price target on Maravai LifeSciences from $12.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Finally, Craig Hallum began coverage on Maravai LifeSciences in a report on Wednesday, April 10th. They issued a “buy” rating and a $15.00 price target on the stock. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $11.56.

Maravai LifeSciences Trading Down 0.6 %

The company has a current ratio of 8.00, a quick ratio of 7.41 and a debt-to-equity ratio of 0.70. The stock has a fifty day simple moving average of $7.69 and a 200-day simple moving average of $6.69.

Maravai LifeSciences (NASDAQ:MRVI) last issued its earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). Maravai LifeSciences had a negative return on equity of 1.31% and a negative net margin of 41.19%. The company had revenue of $74.14 million for the quarter, compared to the consensus estimate of $62.99 million. As a group, equities analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.15 earnings per share for the current year.

Hedge Funds Weigh In On Maravai LifeSciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Simplicity Solutions LLC acquired a new stake in shares of Maravai LifeSciences during the third quarter worth about $130,000. Bank of New York Mellon Corp raised its position in shares of Maravai LifeSciences by 1.9% during the third quarter. Bank of New York Mellon Corp now owns 515,123 shares of the company’s stock worth $5,151,000 after purchasing an additional 9,592 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Maravai LifeSciences by 43.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,174 shares of the company’s stock worth $242,000 after purchasing an additional 7,264 shares during the period. Mackenzie Financial Corp raised its position in shares of Maravai LifeSciences by 39.0% during the third quarter. Mackenzie Financial Corp now owns 4,930,841 shares of the company’s stock worth $48,667,000 after purchasing an additional 1,384,455 shares during the period. Finally, Advisor Partners II LLC acquired a new stake in shares of Maravai LifeSciences during the third quarter worth about $115,000. 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.