Maravai LifeSciences (NASDAQ:MRVI) Sets New 12-Month High – Still a Buy?

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) hit a new 52-week high on Tuesday . The stock traded as high as $5.33 and last traded at $5.25, with a volume of 1467997 shares. The stock had previously closed at $5.20.

Analysts Set New Price Targets

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

Maravai LifeSciences Trading Up 1.0%

The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -7.39 and a beta of 0.71. The company has a current ratio of 5.91, a quick ratio of 4.96 and a debt-to-equity ratio of 0.72. The company has a fifty day moving average of $4.32 and a two-hundred day moving average of $3.71.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.01 EPS for the quarter, beating the consensus estimate 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 company had revenue of $65.84 million for the quarter, compared to the consensus estimate of $53.00 million. On average, research analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.2 EPS for the current year.

Insider Activity

In other 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 transaction, the general counsel directly owned 360,767 shares in the company, valued at approximately $1,825,481.02. The trade was a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.49% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Royal Bank of Canada raised its stake in 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 purchasing an additional 3,209 shares during the last quarter. Sprott Inc. bought a new position in shares of Maravai LifeSciences during the 3rd quarter worth about $29,000. Virtu Financial LLC bought a new position in shares of Maravai LifeSciences during the 4th quarter worth about $34,000. Insigneo Advisory Services LLC acquired a new position in shares of Maravai LifeSciences during the fourth quarter valued at about $34,000. Finally, Quantessence Capital LLC bought a new stake in shares of Maravai LifeSciences in the third quarter valued at about $31,000. 50.25% of the stock is currently owned by institutional investors and hedge funds.

About Maravai LifeSciences

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.