Maravai LifeSciences (NASDAQ:MRVI) Hits New 12-Month High – What’s Next?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $6.35 and last traded at $6.4760, with a volume of 403140 shares. The stock had previously closed at $6.22.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MRVI. UBS Group restated a “reduce” rating on shares of Maravai LifeSciences in a research note on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $6.00 price target on shares of Maravai LifeSciences in a research report on Friday, May 8th. Wall Street Zen upgraded shares of Maravai LifeSciences from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Weiss Ratings upgraded Maravai LifeSciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 29th. Finally, Wells Fargo & Company increased their price target on shares of Maravai LifeSciences from $4.50 to $5.50 and gave the company an “overweight” rating in a research note on Friday, May 8th. Three analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Maravai LifeSciences presently has a consensus rating of “Hold” and a consensus price target of $5.50.

Maravai LifeSciences Trading Up 2.2%

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 capitalization of $1.64 billion, a PE ratio of -8.95 and a beta of 0.71. The business’s 50-day moving average price is $4.53 and its 200-day moving average price is $3.77.

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

Insider Buying and Selling

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were 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. This trade represents a 6.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.49% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Maravai LifeSciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its position in shares of Maravai LifeSciences by 49.0% during the 1st quarter. Royal Bank of Canada now owns 9,761 shares of the company’s stock valued at $27,000 after acquiring an additional 3,209 shares during the period. Renaissance Technologies LLC lifted its holdings in Maravai LifeSciences by 0.9% in the 1st quarter. Renaissance Technologies LLC now owns 4,264,689 shares of the company’s stock valued at $12,069,000 after purchasing an additional 39,600 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Maravai LifeSciences during the first quarter worth approximately $238,000. Dimensional Fund Advisors LP boosted its holdings in shares of Maravai LifeSciences by 64.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,418,597 shares of the company’s stock worth $4,015,000 after purchasing an additional 558,050 shares during the last quarter. Finally, Brummer Multi Strategy AB boosted its stake in Maravai LifeSciences by 66.0% in the 1st quarter. Brummer Multi Strategy AB now owns 759,743 shares of the company’s stock worth $2,150,000 after buying an additional 302,036 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.