Wall Street Zen Upgrades Maravai LifeSciences (NASDAQ:MRVI) to “Buy”

Maravai LifeSciences (NASDAQ:MRVI) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

MRVI has been the subject of several other reports. Wells Fargo & Company upped their price target on shares of Maravai LifeSciences from $5.50 to $6.50 and gave the company an “overweight” rating in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $6.00 price target on shares of Maravai LifeSciences in a report on Friday, May 8th. Weiss Ratings raised shares of Maravai LifeSciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 29th. Finally, UBS Group restated a “reduce” rating on shares of Maravai LifeSciences in a report on Wednesday, June 3rd. Two analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $6.25.

Maravai LifeSciences Stock Performance

Shares of MRVI stock opened at $5.70 on Friday. The business’s 50-day moving average price is $6.08 and its 200-day moving average price is $4.46. Maravai LifeSciences has a 12 month low of $2.28 and a 12 month high of $7.44. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -10.96 and a beta of 0.63. The company has a current ratio of 4.05, a quick ratio of 2.98 and a debt-to-equity ratio of 0.49.

Maravai LifeSciences (NASDAQ:MRVI) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. The company had revenue of $51.44 million for the quarter, compared to analysts’ expectations of $48.67 million. Maravai LifeSciences had a negative return on equity of 15.70% and a negative net margin of 37.07%. Equities research analysts forecast that Maravai LifeSciences will post -0.2 EPS for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP bought a new position in shares of Maravai LifeSciences during the 4th quarter worth approximately $7,670,000. General American Investors Co. Inc. grew its position in shares of Maravai LifeSciences by 1,062.2% during the 4th quarter. General American Investors Co. Inc. now owns 1,585,316 shares of the company’s stock worth $5,152,000 after buying an additional 1,448,907 shares during the period. Millennium Management LLC increased its stake in shares of Maravai LifeSciences by 308.7% in the 4th quarter. Millennium Management LLC now owns 1,797,052 shares of the company’s stock valued at $5,840,000 after acquiring an additional 1,357,349 shares in the last quarter. First Eagle Investment Management LLC increased its stake in shares of Maravai LifeSciences by 299.0% in the 4th quarter. First Eagle Investment Management LLC now owns 1,799,336 shares of the company’s stock valued at $5,848,000 after acquiring an additional 1,348,405 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Maravai LifeSciences by 52.3% during the 4th quarter. Marshall Wace LLP now owns 2,000,278 shares of the company’s stock valued at $6,501,000 after acquiring an additional 687,253 shares during the period. 50.25% of the stock is owned by institutional investors.

Maravai LifeSciences Company Profile

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.