Maravai LifeSciences (NASDAQ:MRVI) Hits New 1-Year High – What’s Next?

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) hit a new 52-week high during trading on Wednesday . The company traded as high as $5.32 and last traded at $5.2550, with a volume of 533257 shares trading hands. The stock had previously closed at $5.01.

Analysts Set New Price Targets

Several equities analysts have recently commented on MRVI shares. Wells Fargo & Company upped their target price on Maravai LifeSciences from $4.50 to $5.50 and gave the company an “overweight” rating in a report on Friday, May 8th. Wall Street Zen raised Maravai LifeSciences from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $6.00 price target on shares of Maravai LifeSciences in a report on Friday, May 8th. Weiss Ratings upgraded shares of Maravai LifeSciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 29th. Finally, UBS Group reissued a “reduce” rating on shares of Maravai LifeSciences in a research note on Wednesday, June 3rd. Three research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, Maravai LifeSciences has an average rating of “Hold” and a consensus target price of $5.50.

Maravai LifeSciences Trading Down 0.4%

The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -7.32 and a beta of 0.72. The firm has a 50-day moving average of $4.23 and a 200 day moving average of $3.69. The company has a current ratio of 5.91, a quick ratio of 4.96 and a debt-to-equity ratio of 0.72.

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

Insider Buying and Selling

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $5.06, for a total transaction of $126,500.00. Following the sale, the general counsel directly owned 360,767 shares in the company, valued at approximately $1,825,481.02. The trade was a 6.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.49% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada raised its holdings in Maravai LifeSciences by 49.0% during the first quarter. Royal Bank of Canada now owns 9,761 shares of the company’s stock worth $27,000 after purchasing an additional 3,209 shares in the last quarter. Barclays PLC increased its position in shares of Maravai LifeSciences by 3.0% during the 4th quarter. Barclays PLC now owns 172,281 shares of the company’s stock valued at $560,000 after purchasing an additional 5,057 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Maravai LifeSciences by 12.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 46,528 shares of the company’s stock valued at $112,000 after purchasing an additional 5,160 shares during the period. Epacria Capital Partners LLC increased its position in shares of Maravai LifeSciences by 6.8% during the 3rd quarter. Epacria Capital Partners LLC now owns 100,078 shares of the company’s stock valued at $287,000 after purchasing an additional 6,384 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Maravai LifeSciences by 2.7% in the 1st quarter. Bank of New York Mellon Corp now owns 343,643 shares of the company’s stock worth $973,000 after buying an additional 8,955 shares in the last quarter. Institutional investors and hedge funds own 50.25% of the company’s stock.

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.