Maravai LifeSciences (NASDAQ:MRVI) Shares Up 8.1%

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) shot up 8.1% during trading on Tuesday . The stock traded as high as $8.10 and last traded at $7.97. 235,527 shares changed hands during trading, a decline of 91% from the average session volume of 2,563,466 shares. The stock had previously closed at $7.37.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus lowered their price objective on shares of Maravai LifeSciences from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Craig Hallum assumed coverage on shares of Maravai LifeSciences in a research note on Wednesday, April 10th. They issued a “buy” rating and a $15.00 price objective on the stock. Finally, Royal Bank of Canada raised their price objective on shares of Maravai LifeSciences from $12.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Maravai LifeSciences has an average rating of “Moderate Buy” and a consensus price target of $11.56.

Maravai LifeSciences Price Performance

The company has a debt-to-equity ratio of 0.70, a current ratio of 8.00 and a quick ratio of 7.41. The stock’s 50 day simple moving average is $7.59 and its two-hundred day simple moving average is $6.69. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -8.86 and a beta of 0.01.

Maravai LifeSciences (NASDAQ:MRVI) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The company had revenue of $74.14 million for the quarter, compared to the consensus estimate of $62.99 million. Maravai LifeSciences had a negative net margin of 41.19% and a negative return on equity of 1.31%. On average, analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MRVI. Signaturefd LLC increased its position in Maravai LifeSciences by 99.9% in the third quarter. Signaturefd LLC now owns 3,364 shares of the company’s stock worth $34,000 after purchasing an additional 1,681 shares during the period. China Universal Asset Management Co. Ltd. increased its position in Maravai LifeSciences by 96.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 3,391 shares of the company’s stock worth $34,000 after purchasing an additional 1,662 shares during the period. Gladius Capital Management LP acquired a new stake in Maravai LifeSciences in the fourth quarter worth about $30,000. Performa Ltd US LLC increased its position in Maravai LifeSciences by 112.4% in the fourth quarter. Performa Ltd US LLC now owns 6,000 shares of the company’s stock worth $39,000 after purchasing an additional 3,175 shares during the period. Finally, Pinnacle Associates Ltd. acquired a new stake in Maravai LifeSciences in the fourth quarter worth about $69,000. 50.25% of the stock is owned by institutional investors.

About Maravai LifeSciences

Maravai LifeSciences Holdings, Inc, a life sciences company, provides products to enable the development of drug therapies, diagnostics, novel vaccines, and support research on human diseases worldwide. The company's products address the key phases of biopharmaceutical development and include nucleic acids for diagnostic and therapeutic applications, antibody-based products to detect impurities during the production of biopharmaceutical products, and products to detect the expression of proteins in tissues of various species.