Maravai LifeSciences (NASDAQ:MRVI) Shares Gap Up on Strong Earnings

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $3.26, but opened at $3.58. Maravai LifeSciences shares last traded at $3.5950, with a volume of 1,118,615 shares.

The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. Maravai LifeSciences had a negative return on equity of 21.55% and a negative net margin of 70.40%.The firm had revenue of $49.87 million for the quarter, compared to analyst estimates of $49.06 million.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MRVI shares. Wall Street Zen upgraded shares of Maravai LifeSciences from a “sell” rating to a “hold” rating in a research report on Saturday. Wells Fargo & Company lifted their price target on Maravai LifeSciences from $4.00 to $4.50 and gave the company an “overweight” rating in a research report on Monday, December 15th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $5.25.

Insider Activity

In other Maravai LifeSciences news, Director Gregory T. Lucier bought 51,472 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The stock was bought at an average price of $3.70 per share, for a total transaction of $190,446.40. Following the completion of the acquisition, the director directly owned 106,595 shares in the company, valued at $394,401.50. The trade was a 93.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.11% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Ethic Inc. purchased a new stake in Maravai LifeSciences in the second quarter worth about $26,000. Sprott Inc. bought a new position in shares of Maravai LifeSciences in the 3rd quarter worth approximately $29,000. Quantessence Capital LLC bought a new position in shares of Maravai LifeSciences in the 3rd quarter worth approximately $31,000. Abel Hall LLC purchased a new position in shares of Maravai LifeSciences in the 3rd quarter valued at approximately $33,000. Finally, CIBC Bancorp USA Inc. bought a new stake in shares of Maravai LifeSciences during the third quarter valued at approximately $33,000. 50.25% of the stock is currently owned by institutional investors.

Maravai LifeSciences Price Performance

The company has a market capitalization of $910.33 million, a P/E ratio of -3.96 and a beta of 0.39. The company has a 50-day moving average of $3.44 and a two-hundred day moving average of $3.20. The company has a quick ratio of 4.56, a current ratio of 5.29 and a debt-to-equity ratio of 0.74.

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.