Maravai LifeSciences (NASDAQ:MRVI) Stock Crosses Above 50 Day Moving Average – Time to Sell?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) shares crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $7.38 and traded as high as $7.60. Maravai LifeSciences shares last traded at $7.58, with a volume of 1,285,128 shares.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MRVI. Wells Fargo & Company lifted their price objective on Maravai LifeSciences from $5.50 to $6.50 and gave the stock an “overweight” rating in a research note on Friday, August 7th. UBS Group increased their target price on shares of Maravai LifeSciences from $2.50 to $8.00 and gave the company a “neutral” rating in a research report on Wednesday, September 9th. TD Cowen started coverage on shares of Maravai LifeSciences in a report on Monday, October 5th. They set a “buy” rating and a $9.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Maravai LifeSciences in a report on Wednesday, August 26th. Finally, Wall Street Zen downgraded shares of Maravai LifeSciences from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.38.

Maravai LifeSciences Stock Performance

The company has a 50-day moving average price of $7.38 and a two-hundred day moving average price of $5.15. The company has a current ratio of 4.05, a quick ratio of 2.98 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $1.97 billion, a P/E ratio of -14.58 and a beta of 0.54.

Maravai LifeSciences (NASDAQ:MRVI) last announced its earnings results on Thursday, August 6th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.02. Maravai LifeSciences had a negative return on equity of 15.70% and a negative net margin of 37.07%. The company had revenue of $51.44 million for the quarter, compared to analyst estimates of $48.67 million. On average, equities analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.18 earnings per share for the current year.

Hedge Funds Weigh In On Maravai LifeSciences

Several institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue acquired a new stake in shares of Maravai LifeSciences during the 3rd quarter worth approximately $47,000. WINTON GROUP Ltd bought a new stake in shares of Maravai LifeSciences in the 2nd quarter valued at $604,000. Engineers Gate Manager LP bought a new stake in shares of Maravai LifeSciences in the 2nd quarter valued at $487,000. NewEdge Advisors LLC acquired a new position in shares of Maravai LifeSciences during the 2nd quarter valued at $207,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Maravai LifeSciences during the 2nd quarter valued at $128,000. 50.25% of the stock is owned by institutional investors and hedge funds.

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.