Maravai LifeSciences (NASDAQ:MRVI) Hits New 52-Week High – What’s Next?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $5.27 and last traded at $5.2650, with a volume of 400214 shares trading hands. The stock had previously closed at $5.10.

Wall Street Analyst Weigh In

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

Maravai LifeSciences Stock Up 1.5%

The firm has a 50 day simple moving average of $3.92 and a two-hundred day simple moving average of $3.61. The company has a quick ratio of 4.96, a current ratio of 5.91 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $1.34 billion, a P/E ratio of -7.30 and a beta of 0.72.

Maravai LifeSciences (NASDAQ:MRVI) last released its earnings results on Thursday, May 7th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.06. The firm had revenue of $65.84 million for the quarter, compared to analysts’ expectations of $53.00 million. Maravai LifeSciences had a negative return on equity of 17.87% and a negative net margin of 51.07%. On average, equities research analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MRVI. Royal Bank of Canada boosted its holdings in shares of Maravai LifeSciences by 49.0% during the 1st quarter. Royal Bank of Canada now owns 9,761 shares of the company’s stock valued at $27,000 after acquiring an additional 3,209 shares in the last quarter. Sprott Inc. acquired a new stake in Maravai LifeSciences during the 3rd quarter worth approximately $29,000. Virtu Financial LLC acquired a new stake in Maravai LifeSciences during the 4th quarter worth approximately $34,000. Insigneo Advisory Services LLC bought a new stake in Maravai LifeSciences during the 4th quarter worth approximately $34,000. Finally, Quantessence Capital LLC acquired a new position in Maravai LifeSciences in the 3rd quarter valued at approximately $31,000. 50.25% of the stock is currently owned by institutional investors and hedge funds.

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.