Maravai LifeSciences (NASDAQ:MRVI) Trading Up 6.4% – Time to Buy?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) shares traded up 6.4% during trading on Wednesday . The company traded as high as $6.90 and last traded at $6.9240. 2,804,478 shares were traded during trading, an increase of 32% from the average daily volume of 2,130,180 shares. The stock had previously closed at $6.51.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wall Street Zen raised Maravai LifeSciences from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Wells Fargo & Company lifted their target price on shares of Maravai LifeSciences from $4.50 to $5.50 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Weiss Ratings upgraded shares of Maravai LifeSciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 29th. UBS Group reissued a “reduce” rating on shares of Maravai LifeSciences in a research note on Wednesday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $6.00 target price on shares of Maravai LifeSciences in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.50.

Maravai LifeSciences Trading Up 6.4%

The company has a debt-to-equity ratio of 0.72, a current ratio of 5.91 and a quick ratio of 4.96. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -9.77 and a beta of 0.65. The business’s 50-day moving average price is $5.13 and its two-hundred day moving average price is $3.99.

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

Insider Buying and Selling

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences 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 completion of the sale, the general counsel owned 360,767 shares in the company, valued at $1,825,481.02. The trade was a 6.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.49% of the stock is owned by company insiders.

Institutional Investors Weigh In On Maravai LifeSciences

A number of institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its position in Maravai LifeSciences by 49.0% during the first quarter. Royal Bank of Canada now owns 9,761 shares of the company’s stock worth $27,000 after purchasing an additional 3,209 shares during the last quarter. Quantessence Capital LLC purchased a new stake in shares of Maravai LifeSciences during the 3rd quarter valued at $31,000. Abel Hall LLC acquired a new stake in shares of Maravai LifeSciences during the 3rd quarter worth $33,000. CIBC Bancorp USA Inc. purchased a new position in shares of Maravai LifeSciences in the 3rd quarter worth $33,000. Finally, Virtu Financial LLC acquired a new position in Maravai LifeSciences in the fourth quarter valued at $34,000. 50.25% of the stock is currently owned by hedge funds and other institutional investors.

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.