Maravai LifeSciences (NASDAQ:MRVI) Share Price Breaks Above Fifty Day Moving Average – Time to Sell?

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $7.37 and traded as high as $7.62. Maravai LifeSciences shares last traded at $7.52, with a volume of 1,936,352 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wall Street Zen raised shares of Maravai LifeSciences from a “hold” rating to a “buy” rating in a report on Saturday. UBS Group raised their price objective on shares of Maravai LifeSciences from $2.50 to $8.00 and gave the stock a “neutral” rating in a report on Wednesday, September 9th. Wells Fargo & Company increased their price target on shares of Maravai LifeSciences from $5.50 to $6.50 and gave the stock an “overweight” rating in a research report on Friday, August 7th. TD Cowen assumed coverage on Maravai LifeSciences in a research report on Monday, October 5th. They issued a “buy” rating and a $9.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Maravai LifeSciences in a report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $7.38.

Maravai LifeSciences Stock Performance

The firm has a market cap of $1.95 billion, a P/E ratio of -17.49 and a beta of 0.61. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.98 and a current ratio of 4.05. The company’s 50 day moving average is $7.37 and its 200 day moving average is $5.33.

Maravai LifeSciences (NASDAQ:MRVI) last announced its earnings results on Wednesday, November 4th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03. The business had revenue of $45.85 million during the quarter, compared to analysts’ expectations of $43.56 million. Maravai LifeSciences had a negative net margin of 37.07% and a negative return on equity of 15.70%. As a group, equities analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Maravai LifeSciences

Institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. increased its position in shares of Maravai LifeSciences by 4.9% in the third quarter. Russell Investments Group Ltd. now owns 166,243 shares of the company’s stock valued at $1,273,000 after acquiring an additional 7,699 shares during the period. Torrey Growth & Income Advisors purchased a new position in shares of Maravai LifeSciences in the third quarter worth about $283,000. Ethic Inc. raised its position in shares of Maravai LifeSciences by 57.1% during the 3rd quarter. Ethic Inc. now owns 16,654 shares of the company’s stock worth $128,000 after purchasing an additional 6,050 shares during the last quarter. Pictet Asset Management Holding SA acquired a new position in shares of Maravai LifeSciences in the 3rd quarter valued at $78,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Maravai LifeSciences in the third quarter worth approximately $58,000. 50.25% of the stock is currently owned by institutional investors.

Maravai LifeSciences Company Profile

Maravai LifeSciences Holdings, Inc is a life sciences company that provides products and services used in the development, manufacture and quality testing of biopharmaceuticals, vaccines and diagnostic products. The company serves pharmaceutical, biotechnology, academic and other research organizations involved in nucleic acid and biologics development.

Through its TriLink BioTechnologies business, Maravai supplies specialized nucleic acid products and services, including modified nucleotides, messenger RNA-related materials, enzymes and other components used in research and biomanufacturing.