Maravai LifeSciences (NASDAQ:MRVI) Shares Cross Above Fifty Day Moving Average – Should You Sell?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $7.37 and traded as high as $7.62. Maravai LifeSciences shares last traded at $7.52, with a volume of 1,936,352 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MRVI. Weiss Ratings reissued a “sell (d-)” rating on shares of Maravai LifeSciences in a research note on Wednesday, August 26th. Wall Street Zen upgraded shares of Maravai LifeSciences from a “hold” rating to a “buy” rating in a research note on Saturday. UBS Group lifted their price target on Maravai LifeSciences from $2.50 to $8.00 and gave the company a “neutral” rating in a report on Wednesday, September 9th. TD Cowen began coverage on Maravai LifeSciences in a report on Monday, October 5th. They set a “buy” rating and a $9.00 price target on the stock. Finally, Wells Fargo & Company boosted their price objective on Maravai LifeSciences from $5.50 to $6.50 and gave the stock an “overweight” rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Maravai LifeSciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.38.

Maravai LifeSciences Price Performance

The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of -17.49 and a beta of 0.61. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.05 and a quick ratio of 2.98. The business has a fifty day moving average price of $7.37 and a 200 day moving average price of $5.33.

Maravai LifeSciences (NASDAQ:MRVI) last posted its quarterly earnings data on Wednesday, November 4th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.03. The business had revenue of $45.85 million during the quarter, compared to the consensus estimate of $43.56 million. Maravai LifeSciences had a negative net margin of 30.83% and a negative return on equity of 12.23%. On average, research analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and 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. Y Intercept Hong Kong Ltd bought a new position in Maravai LifeSciences during the 1st quarter valued at $37,000. State of Alaska Department of Revenue acquired a new position in shares of Maravai LifeSciences during the 3rd quarter valued at $47,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Maravai LifeSciences during the 3rd quarter valued at $58,000. Finally, Pictet Asset Management Holding SA bought a new stake in shares of Maravai LifeSciences in the 3rd quarter worth $78,000. 50.25% of the stock is currently owned by institutional investors.

Maravai LifeSciences Company Profile

Maravai LifeSciences Holdings, Inc is a life sciences company that provides products and services used in the development, manufacture and quality testing of biopharmaceuticals, vaccines and diagnostic products. The company serves pharmaceutical, biotechnology, academic and other research organizations involved in nucleic acid and biologics development.

Through its TriLink BioTechnologies business, Maravai supplies specialized nucleic acid products and services, including modified nucleotides, messenger RNA-related materials, enzymes and other components used in research and biomanufacturing.