Maravai LifeSciences (NASDAQ:MRVI) Shares Up 8.1%

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) traded up 8.1% during trading on Tuesday . The company traded as high as $8.10 and last traded at $7.97. 235,527 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 2,563,466 shares. The stock had previously closed at $7.37.

Wall Street Analysts Forecast Growth

MRVI has been the topic of several research analyst reports. Royal Bank of Canada raised their price objective on Maravai LifeSciences from $12.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Craig Hallum initiated coverage on Maravai LifeSciences in a research note on Wednesday, April 10th. They issued a “buy” rating and a $15.00 price objective on the stock. Finally, Stifel Nicolaus reduced their price objective on Maravai LifeSciences from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $11.56.

Maravai LifeSciences Stock Up 7.1 %

The stock has a 50 day moving average price of $7.59 and a 200 day moving average price of $6.69. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of -8.86 and a beta of 0.01. The company has a quick ratio of 7.41, a current ratio of 8.00 and a debt-to-equity ratio of 0.70.

Maravai LifeSciences (NASDAQ:MRVI) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The business had revenue of $74.14 million for the quarter, compared to analyst estimates of $62.99 million. Maravai LifeSciences had a negative net margin of 41.19% and a negative return on equity of 1.31%. As a group, analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.15 EPS for the current year.

Hedge Funds Weigh In On Maravai LifeSciences

Several large investors have recently bought and sold shares of MRVI. 12 West Capital Management LP grew its stake in Maravai LifeSciences by 92.2% in the 3rd quarter. 12 West Capital Management LP now owns 6,463,111 shares of the company’s stock valued at $64,631,000 after purchasing an additional 3,101,275 shares during the period. Point72 Europe London LLP bought a new position in Maravai LifeSciences during the fourth quarter valued at about $17,059,000. Braidwell LP increased its holdings in Maravai LifeSciences by 120.3% during the third quarter. Braidwell LP now owns 3,974,857 shares of the company’s stock worth $39,749,000 after buying an additional 2,170,157 shares during the last quarter. Mackenzie Financial Corp raised its position in Maravai LifeSciences by 39.0% in the third quarter. Mackenzie Financial Corp now owns 4,930,841 shares of the company’s stock worth $48,667,000 after acquiring an additional 1,384,455 shares during the period. Finally, Pacer Advisors Inc. raised its position in Maravai LifeSciences by 37.8% in the fourth quarter. Pacer Advisors Inc. now owns 2,955,230 shares of the company’s stock worth $19,357,000 after acquiring an additional 810,957 shares during the period. 50.25% of the stock is currently owned by institutional investors.

About Maravai LifeSciences

Maravai LifeSciences Holdings, Inc, a life sciences company, provides products to enable the development of drug therapies, diagnostics, novel vaccines, and support research on human diseases worldwide. The company's products address the key phases of biopharmaceutical development and include nucleic acids for diagnostic and therapeutic applications, antibody-based products to detect impurities during the production of biopharmaceutical products, and products to detect the expression of proteins in tissues of various species.