Maravai LifeSciences (NASDAQ:MRVI) Hits New 52-Week High – Here’s Why

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $7.28 and last traded at $7.21, with a volume of 1077 shares changing hands. The stock had previously closed at $7.24.

Analysts Set New Price Targets

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

Maravai LifeSciences Price Performance

The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of -10.16 and a beta of 0.65. The business’s fifty day simple moving average is $5.31 and its 200 day simple moving average is $4.07. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.91 and a quick ratio of 4.96.

Maravai LifeSciences (NASDAQ:MRVI) last released its quarterly earnings data 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 firm had revenue of $65.84 million for the quarter, compared to the consensus estimate of $53.00 million. On average, research analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.2 EPS for the current year.

Insiders Place Their Bets

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the company’s stock in a transaction that occurred 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.49% of the stock is owned by insiders.

Hedge Funds Weigh In On Maravai LifeSciences

A number of large investors have recently modified their holdings of the company. Wellington Management Group LLP bought a new position in shares of Maravai LifeSciences during the fourth quarter valued at about $7,670,000. General American Investors Co. Inc. boosted its holdings in shares of Maravai LifeSciences by 1,062.2% during the fourth quarter. General American Investors Co. Inc. now owns 1,585,316 shares of the company’s stock worth $5,152,000 after purchasing an additional 1,448,907 shares during the period. Millennium Management LLC grew its stake in shares of Maravai LifeSciences by 308.7% in the fourth quarter. Millennium Management LLC now owns 1,797,052 shares of the company’s stock worth $5,840,000 after purchasing an additional 1,357,349 shares during the last quarter. First Eagle Investment Management LLC grew its stake in shares of Maravai LifeSciences by 299.0% in the fourth quarter. First Eagle Investment Management LLC now owns 1,799,336 shares of the company’s stock worth $5,848,000 after purchasing an additional 1,348,405 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in 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 purchasing an additional 687,253 shares during the period. 50.25% of the stock is owned by hedge funds and other institutional investors.

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.