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

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $6.61 and last traded at $6.4530, with a volume of 146820 shares trading hands. The stock had previously closed at $6.36.

Wall Street Analysts Forecast Growth

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

Maravai LifeSciences Stock Up 0.1%

The company has a market cap of $1.64 billion, a P/E ratio of -8.94 and a beta of 0.65. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.96 and a current ratio of 5.91. The business’s fifty day moving average is $5.08 and its two-hundred day moving average is $3.97.

Maravai LifeSciences (NASDAQ:MRVI) last issued its earnings results on Thursday, May 7th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $53.00 million. Equities analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.2 EPS for the current year.

Insiders Place Their Bets

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $5.06, for a total transaction of $126,500.00. Following the completion of the sale, the general counsel directly owned 360,767 shares of the company’s stock, valued at $1,825,481.02. The trade was a 6.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.49% of the stock is currently owned by company insiders.

Institutional Trading of Maravai LifeSciences

Several institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada lifted its stake in Maravai LifeSciences by 49.0% in the first quarter. Royal Bank of Canada now owns 9,761 shares of the company’s stock worth $27,000 after acquiring an additional 3,209 shares during the period. Quantessence Capital LLC purchased a new position in Maravai LifeSciences during the 3rd quarter valued at about $31,000. Abel Hall LLC purchased a new stake in shares of Maravai LifeSciences in the 3rd quarter worth approximately $33,000. CIBC Bancorp USA Inc. bought a new position in shares of Maravai LifeSciences during the third quarter valued at approximately $33,000. Finally, Virtu Financial LLC bought a new position in shares of Maravai LifeSciences during the fourth quarter valued at approximately $34,000. 50.25% of the stock is currently 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.