Maravai LifeSciences (NASDAQ:MRVI) Sees Unusually-High Trading Volume – Here’s Why

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) saw unusually-high trading volume on Monday . Approximately 2,252,800 shares were traded during mid-day trading, an increase of 89% from the previous session’s volume of 1,192,284 shares.The stock last traded at $3.07 and had previously closed at $3.08.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Maravai LifeSciences from $4.00 to $4.50 and gave the stock an “overweight” rating in a report on Monday, December 15th. Wall Street Zen upgraded shares of Maravai LifeSciences from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $4.86.

Maravai LifeSciences Stock Performance

The firm has a market cap of $804.21 million, a PE ratio of -3.49 and a beta of 0.38. The company has a quick ratio of 5.69, a current ratio of 6.60 and a debt-to-equity ratio of 0.85. The company has a 50-day simple moving average of $3.48 and a two-hundred day simple moving average of $3.29.

Maravai LifeSciences (NASDAQ:MRVI) last announced its earnings results on Wednesday, February 25th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.03. The firm had revenue of $49.87 million during the quarter, compared to analyst estimates of $49.06 million. Maravai LifeSciences had a negative return on equity of 22.79% and a negative net margin of 70.40%. As a group, equities research analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.24 earnings per share for the current year.

Institutional Trading of Maravai LifeSciences

Several hedge funds have recently added to or reduced their stakes in the stock. Sprott Inc. purchased a new position in Maravai LifeSciences in the third quarter valued at about $29,000. Quantessence Capital LLC purchased a new stake in shares of Maravai LifeSciences during the 3rd quarter worth approximately $31,000. Abel Hall LLC purchased a new stake in shares of Maravai LifeSciences during the 3rd quarter worth approximately $33,000. CIBC Bancorp USA Inc. bought a new stake in shares of Maravai LifeSciences in the 3rd quarter worth approximately $33,000. Finally, Virtu Financial LLC purchased a new position in Maravai LifeSciences in the fourth quarter valued at approximately $34,000. Institutional investors own 50.25% of the company’s stock.

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.