Maravai LifeSciences (NASDAQ:MRVI) Sets New 1-Year High – Here’s Why

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $8.87 and last traded at $8.7450, with a volume of 1027230 shares trading hands. The stock had previously closed at $8.43.

Analysts Set New Price Targets

A number of research analysts recently commented on MRVI shares. Wall Street Zen upgraded Maravai LifeSciences from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Wells Fargo & Company boosted their price target on shares of Maravai LifeSciences from $5.50 to $6.50 and gave the company an “overweight” rating in a report on Friday, August 7th. UBS Group restated a “reduce” rating on shares of Maravai LifeSciences in a research note on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $6.00 price objective on shares of Maravai LifeSciences in a report on Friday, May 8th. Finally, 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. Two investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Maravai LifeSciences currently has an average rating of “Hold” and an average target price of $6.25.

Maravai LifeSciences Stock Performance

The company has a current ratio of 4.05, a quick ratio of 2.98 and a debt-to-equity ratio of 0.49. The stock has a fifty day moving average price of $6.35 and a 200-day moving average price of $4.62. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -16.76 and a beta of 0.63.

Maravai LifeSciences (NASDAQ:MRVI) last posted its earnings results on Thursday, August 6th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02. The business had revenue of $51.44 million during the quarter, compared to the consensus estimate of $48.67 million. Maravai LifeSciences had a negative return on equity of 15.70% and a negative net margin of 37.07%. As a group, analysts anticipate that Maravai LifeSciences Holdings, Inc. will post -0.2 earnings per share for the current fiscal year.

Insider Activity

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $5.06, for a total transaction of $126,500.00. Following the completion of the transaction, the general counsel directly owned 360,767 shares of the company’s stock, valued at approximately $1,825,481.02. This trade represents a 6.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.49% of the company’s stock.

Institutional Investors Weigh In On Maravai LifeSciences

A number of hedge funds have recently made changes to their positions in MRVI. Jane Street Group LLC lifted its holdings in Maravai LifeSciences by 1,463.1% during the 1st quarter. Jane Street Group LLC now owns 380,403 shares of the company’s stock valued at $841,000 after purchasing an additional 356,067 shares during the last quarter. Creative Planning grew its stake in Maravai LifeSciences by 49.6% during the second quarter. Creative Planning now owns 116,031 shares of the company’s stock worth $280,000 after buying an additional 38,450 shares during the last quarter. Rhumbline Advisers grew its stake in Maravai LifeSciences by 20.3% during the second quarter. Rhumbline Advisers now owns 195,272 shares of the company’s stock worth $471,000 after buying an additional 32,940 shares during the last quarter. Prudential Financial Inc. acquired a new stake in shares of Maravai LifeSciences during the second quarter worth approximately $36,000. Finally, Invesco Ltd. raised its stake in shares of Maravai LifeSciences by 16.8% in the second quarter. Invesco Ltd. now owns 282,192 shares of the company’s stock valued at $680,000 after acquiring an additional 40,495 shares during the last quarter. 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.