Maravai LifeSciences (NASDAQ:MRVI) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Maravai LifeSciences (NASDAQ:MRVI) from a sell rating to a hold rating in a research note released on Saturday morning.

Separately, Wells Fargo & Company upped their price target on shares of Maravai LifeSciences from $4.00 to $4.50 and gave the company an “overweight” rating in a report on Monday, December 15th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $5.25.

Maravai LifeSciences Stock Performance

Shares of NASDAQ MRVI opened at $3.56 on Friday. The stock’s 50-day moving average is $3.44 and its 200 day moving average is $3.21. The stock has a market cap of $910.33 million, a price-to-earnings ratio of -3.96 and a beta of 0.39. Maravai LifeSciences has a 1-year low of $1.66 and a 1-year high of $4.11. The company has a current ratio of 5.29, a quick ratio of 4.56 and a debt-to-equity ratio of 0.74.

Maravai LifeSciences (NASDAQ:MRVI) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. The business had revenue of $49.87 million for the quarter, compared to analysts’ expectations of $49.06 million. Maravai LifeSciences had a negative net margin of 70.40% and a negative return on equity of 21.55%. On average, sell-side analysts anticipate that Maravai LifeSciences will post -0.24 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Gregory T. Lucier acquired 51,472 shares of the stock in a transaction on Friday, December 5th. The stock was acquired at an average price of $3.70 per share, with a total value of $190,446.40. Following the completion of the transaction, the director owned 106,595 shares of the company’s stock, valued at $394,401.50. This represents a 93.38% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.11% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Tejara Capital Ltd boosted its stake in Maravai LifeSciences by 26.4% in the 3rd quarter. Tejara Capital Ltd now owns 2,453,441 shares of the company’s stock worth $7,041,000 after purchasing an additional 511,992 shares in the last quarter. Monaco Asset Management SAM raised its holdings in Maravai LifeSciences by 315.0% in the third quarter. Monaco Asset Management SAM now owns 3,656,337 shares of the company’s stock worth $10,494,000 after buying an additional 2,775,372 shares during the last quarter. Bank of Montreal Can purchased a new position in Maravai LifeSciences in the second quarter worth about $72,000. Immersion Corp lifted its stake in shares of Maravai LifeSciences by 153.3% in the second quarter. Immersion Corp now owns 990,000 shares of the company’s stock worth $2,388,000 after buying an additional 599,164 shares in the last quarter. Finally, Harspring Capital Management LLC purchased a new stake in shares of Maravai LifeSciences during the second quarter valued at approximately $1,205,000. 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.