Maravai LifeSciences (NASDAQ:MRVI) Trading Up 6.4% – Still a Buy?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) shares were up 6.4% during trading on Wednesday . The company traded as high as $6.90 and last traded at $6.9240. Approximately 2,804,478 shares were traded during trading, an increase of 32% from the average session volume of 2,130,180 shares. The stock had previously closed at $6.51.

Analysts Set New Price Targets

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

Maravai LifeSciences Trading Up 0.7%

The firm has a fifty day moving average of $5.26 and a 200-day moving average of $4.04. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of -9.99 and a beta of 0.65. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.96 and a current ratio of 5.91.

Maravai LifeSciences (NASDAQ:MRVI) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.01 earnings per share for the quarter, topping 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 firm had revenue of $65.84 million during the quarter, compared to analysts’ expectations of $53.00 million. As a group, equities analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Maravai LifeSciences

In related news, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $5.06, for a total value of $126,500.00. Following the completion of the transaction, the general counsel directly owned 360,767 shares in the company, valued at approximately $1,825,481.02. This trade represents a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 Trading of Maravai LifeSciences

A number of institutional investors and hedge funds have recently made changes to their positions in MRVI. Royal Bank of Canada increased its stake in shares of Maravai LifeSciences by 49.0% in the first quarter. Royal Bank of Canada now owns 9,761 shares of the company’s stock valued at $27,000 after purchasing an additional 3,209 shares during the period. Virtu Financial LLC acquired a new stake in shares of Maravai LifeSciences during the 4th quarter valued at $34,000. Insigneo Advisory Services LLC purchased a new stake in shares of Maravai LifeSciences during the fourth quarter valued at $34,000. Quantessence Capital LLC acquired a new position in shares of Maravai LifeSciences in the third quarter worth about $31,000. Finally, Stifel Financial Corp acquired a new position in Maravai LifeSciences in the 4th quarter worth approximately $36,000. 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.