Maravai LifeSciences (NASDAQ:MRVI) Shares Gap Up Following Analyst Upgrade

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s share price gapped up before the market opened on Friday after Wells Fargo & Company raised their price target on the stock from $4.50 to $5.50. The stock had previously closed at $3.94, but opened at $4.39. Wells Fargo & Company currently has an overweight rating on the stock. Maravai LifeSciences shares last traded at $4.4930, with a volume of 2,431,961 shares changing hands.

Separately, Wall Street Zen raised shares of Maravai LifeSciences from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.63.

Hedge Funds Weigh In On Maravai LifeSciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its holdings in Maravai LifeSciences by 64.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,418,597 shares of the company’s stock worth $4,015,000 after buying an additional 558,050 shares in the last quarter. Brummer Multi Strategy AB grew its holdings in Maravai LifeSciences by 66.0% in the 1st quarter. Brummer Multi Strategy AB now owns 759,743 shares of the company’s stock worth $2,150,000 after buying an additional 302,036 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Maravai LifeSciences by 2.7% in the 1st quarter. Bank of New York Mellon Corp now owns 343,643 shares of the company’s stock worth $973,000 after buying an additional 8,955 shares in the last quarter. General American Investors Co. Inc. grew its holdings in Maravai LifeSciences by 8.3% in the 1st quarter. General American Investors Co. Inc. now owns 1,716,193 shares of the company’s stock worth $4,857,000 after buying an additional 130,877 shares in the last quarter. Finally, R Squared Ltd grew its holdings in Maravai LifeSciences by 76.0% in the 1st quarter. R Squared Ltd now owns 27,394 shares of the company’s stock worth $78,000 after buying an additional 11,827 shares in the last quarter. 50.25% of the stock is owned by institutional investors.

Maravai LifeSciences Trading Up 14.1%

The business’s 50 day moving average price is $3.33 and its two-hundred day moving average price is $3.39. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -5.00 and a beta of 0.62. The company has a debt-to-equity ratio of 0.85, a quick ratio of 5.69 and a current ratio of 6.60.

Maravai LifeSciences (NASDAQ:MRVI) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. The company had revenue of $49.87 million during the quarter, compared to analyst estimates of $49.06 million. Maravai LifeSciences had a negative net margin of 70.40% and a negative return on equity of 22.79%. Equities analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.26 earnings per share for the current fiscal year.

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.