Maravai LifeSciences (NASDAQ:MRVI) Sets New 52-Week High – Still a Buy?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $8.87 and last traded at $8.7450, with a volume of 1027230 shares traded. The stock had previously closed at $8.43.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MRVI shares. Weiss Ratings upgraded Maravai LifeSciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 29th. UBS Group reissued a “reduce” rating on shares of Maravai LifeSciences in a report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $6.00 price objective on shares of Maravai LifeSciences in a research note on Friday, May 8th. Wall Street Zen raised Maravai LifeSciences from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Wells Fargo & Company increased their price target on Maravai LifeSciences from $5.50 to $6.50 and gave the company an “overweight” rating in a report on Friday, August 7th. Two research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.25.

Maravai LifeSciences Trading Up 3.3%

The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of -16.76 and a beta of 0.63. The company has a 50-day moving average price of $6.35 and a 200-day moving average price of $4.62. The company has a quick ratio of 2.98, a current ratio of 4.05 and a debt-to-equity ratio of 0.49.

Maravai LifeSciences (NASDAQ:MRVI) last posted its quarterly earnings data 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 business had revenue of $51.44 million during 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%. Research analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling at Maravai LifeSciences

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $5.06, for a total value of $126,500.00. Following the sale, the general counsel owned 360,767 shares in the company, valued at approximately $1,825,481.02. This trade represents a 6.48% decrease in their ownership of the stock. The sale 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. Corporate insiders own 2.49% of the company’s stock.

Institutional Trading of Maravai LifeSciences

A number of hedge funds have recently bought and sold shares of MRVI. Jane Street Group LLC increased its holdings in shares of Maravai LifeSciences by 1,463.1% during the 1st quarter. Jane Street Group LLC now owns 380,403 shares of the company’s stock worth $841,000 after purchasing an additional 356,067 shares during the period. Creative Planning grew its position in Maravai LifeSciences by 49.6% during the second quarter. Creative Planning now owns 116,031 shares of the company’s stock worth $280,000 after buying an additional 38,450 shares in the last quarter. Rhumbline Advisers grew its position in Maravai LifeSciences by 20.3% during the second quarter. Rhumbline Advisers now owns 195,272 shares of the company’s stock worth $471,000 after buying an additional 32,940 shares in the last quarter. Prudential Financial Inc. bought a new position in Maravai LifeSciences during the second quarter valued at about $36,000. Finally, Invesco Ltd. increased its stake in Maravai LifeSciences by 16.8% during the second quarter. Invesco Ltd. now owns 282,192 shares of the company’s stock valued at $680,000 after acquiring an additional 40,495 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.