Maravai LifeSciences (NASDAQ:MRVI) Shares Gap Up Following Analyst Upgrade

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price gapped up prior to trading on Friday after Wells Fargo & Company raised their price target on the stock from $4.50 to $5.50. The stock had previously closed at $3.94, but opened at $4.39. Wells Fargo & Company currently has an overweight rating on the stock. Maravai LifeSciences shares last traded at $4.4930, with a volume of 2,431,961 shares traded.

Separately, Wall Street Zen raised shares of Maravai LifeSciences from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $5.63.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Maravai LifeSciences by 64.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,418,597 shares of the company’s stock worth $4,015,000 after acquiring an additional 558,050 shares in the last quarter. Brummer Multi Strategy AB boosted its holdings in shares of Maravai LifeSciences by 66.0% during the first quarter. Brummer Multi Strategy AB now owns 759,743 shares of the company’s stock worth $2,150,000 after purchasing an additional 302,036 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Maravai LifeSciences by 2.7% during the first quarter. Bank of New York Mellon Corp now owns 343,643 shares of the company’s stock worth $973,000 after purchasing an additional 8,955 shares during the period. General American Investors Co. Inc. boosted its holdings in shares of Maravai LifeSciences by 8.3% during the first quarter. General American Investors Co. Inc. now owns 1,716,193 shares of the company’s stock worth $4,857,000 after purchasing an additional 130,877 shares during the period. Finally, R Squared Ltd boosted its holdings in shares of Maravai LifeSciences by 76.0% during the first quarter. R Squared Ltd now owns 27,394 shares of the company’s stock worth $78,000 after purchasing an additional 11,827 shares during the period. 50.25% of the stock is owned by hedge funds and other institutional investors.

Maravai LifeSciences Stock Performance

The company has a debt-to-equity ratio of 0.85, a current ratio of 6.60 and a quick ratio of 5.69. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -5.00 and a beta of 0.62. The firm’s fifty day moving average is $3.33 and its 200 day moving average is $3.39.

Maravai LifeSciences (NASDAQ:MRVI) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.03. The business had revenue of $49.87 million during 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 22.79%. On average, analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.26 EPS for the current fiscal year.

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.