Maravai LifeSciences (NASDAQ:MRVI) Sees Large Volume Increase – Still a Buy?

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) saw an uptick in trading volume on Monday . 2,252,800 shares changed hands during 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.

Analysts Set New Price Targets

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

Maravai LifeSciences Price Performance

The stock has a market capitalization of $804.21 million, a P/E ratio of -3.49 and a beta of 0.38. The business’s 50 day simple moving average is $3.48 and its two-hundred day simple moving average is $3.29. The company has a quick ratio of 5.69, a current ratio of 6.60 and a debt-to-equity ratio of 0.85.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Monaco Asset Management SAM boosted its position in shares of Maravai LifeSciences by 315.0% during the third quarter. Monaco Asset Management SAM now owns 3,656,337 shares of the company’s stock valued at $10,494,000 after buying an additional 2,775,372 shares during the last quarter. Wellington Management Group LLP purchased a new stake in Maravai LifeSciences in the 4th quarter valued at $7,670,000. General American Investors Co. Inc. lifted its stake in Maravai LifeSciences by 1,062.2% during the 4th quarter. General American Investors Co. Inc. now owns 1,585,316 shares of the company’s stock valued at $5,152,000 after acquiring an additional 1,448,907 shares in the last quarter. Tejara Capital Ltd boosted its holdings in Maravai LifeSciences by 257.8% during the 2nd quarter. Tejara Capital Ltd now owns 1,941,449 shares of the company’s stock worth $4,679,000 after acquiring an additional 1,398,900 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in Maravai LifeSciences by 308.7% during the 4th quarter. Millennium Management LLC now owns 1,797,052 shares of the company’s stock worth $5,840,000 after acquiring an additional 1,357,349 shares during the last quarter. Institutional investors 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.