Maravai LifeSciences (NASDAQ:MRVI) Sets New 12-Month High – Here’s What Happened

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s share price reached a new 52-week high during 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

Several analysts have commented on MRVI shares. Wells Fargo & Company lifted their price target on Maravai LifeSciences from $4.50 to $5.50 and gave the company an “overweight” rating in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $6.00 target price on shares of Maravai LifeSciences in a research report on Friday, May 8th. UBS Group restated a “reduce” rating on shares of Maravai LifeSciences in a report on Wednesday, June 3rd. 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. Finally, Wall Street Zen raised shares of Maravai LifeSciences from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Three analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $5.50.

Maravai LifeSciences Stock Up 1.6%

The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of -10.00 and a beta of 0.65. The company has a current ratio of 5.91, a quick ratio of 4.96 and a debt-to-equity ratio of 0.72. The firm has a 50 day moving average price of $5.40 and a two-hundred day moving average price of $4.13.

Maravai LifeSciences (NASDAQ:MRVI) last issued its earnings results on Thursday, May 7th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.06. The business had revenue of $65.84 million during the quarter, compared to analysts’ expectations of $53.00 million. Maravai LifeSciences had a negative return on equity of 17.87% and a negative net margin of 51.07%. On average, equities analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.2 earnings per share for the current fiscal year.

Insider Transactions at Maravai LifeSciences

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the business’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 completion of the sale, the general counsel directly owned 360,767 shares in the company, valued at $1,825,481.02. The trade was a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.49% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Maravai LifeSciences

Several hedge funds and other institutional investors have recently made changes to their positions in MRVI. Royal Bank of Canada increased its holdings in Maravai LifeSciences by 49.0% in the 1st quarter. Royal Bank of Canada now owns 9,761 shares of the company’s stock valued at $27,000 after purchasing an additional 3,209 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Maravai LifeSciences during the fourth quarter worth about $34,000. Insigneo Advisory Services LLC purchased a new stake in shares of Maravai LifeSciences in the fourth quarter worth about $34,000. Quantessence Capital LLC purchased a new stake in shares of Maravai LifeSciences in the third quarter worth about $31,000. Finally, Stifel Financial Corp acquired a new stake in shares of Maravai LifeSciences in the fourth quarter valued at about $36,000. Institutional investors and hedge funds 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.