Maravai LifeSciences (NASDAQ:MRVI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Maravai LifeSciences (NASDAQ:MRVI) from a hold rating to a buy rating in a research note published on Saturday morning.

A number of other research analysts also recently issued reports on the company. Weiss Ratings raised Maravai LifeSciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $6.00 target price on shares of Maravai LifeSciences in a research note on Friday, May 8th. Wells Fargo & Company lifted their target price on Maravai LifeSciences from $5.50 to $6.50 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, UBS Group reissued a “reduce” rating on shares of Maravai LifeSciences in a research note on Wednesday, June 3rd. Two equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $6.25.

Maravai LifeSciences Price Performance

Shares of NASDAQ MRVI opened at $5.68 on Friday. Maravai LifeSciences has a twelve month low of $2.28 and a twelve month high of $7.44. The firm has a fifty day simple moving average of $6.09 and a 200 day simple moving average of $4.47. The company has a market capitalization of $1.47 billion, a PE ratio of -10.92 and a beta of 0.63. The company has a quick ratio of 2.98, a current ratio of 4.05 and a debt-to-equity ratio of 0.49.

Maravai LifeSciences (NASDAQ:MRVI) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. Maravai LifeSciences had a negative net margin of 37.07% and a negative return on equity of 15.70%. The business had revenue of $51.44 million for the quarter, compared to analysts’ expectations of $48.67 million. On average, sell-side analysts forecast that Maravai LifeSciences will post -0.2 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $5.06, for a total transaction of $126,500.00. Following the transaction, the general counsel owned 360,767 shares in the company, valued at approximately $1,825,481.02. This represents a 6.48% decrease in their ownership of the stock. The sale 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. Company insiders own 2.49% of the company’s stock.

Institutional Trading of Maravai LifeSciences

Several large investors have recently made changes to their positions in the company. Wellington Management Group LLP acquired a new position in Maravai LifeSciences during the 4th quarter worth approximately $7,670,000. General American Investors Co. Inc. grew its holdings in shares of Maravai LifeSciences by 1,062.2% during the fourth quarter. General American Investors Co. Inc. now owns 1,585,316 shares of the company’s stock valued at $5,152,000 after buying an additional 1,448,907 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Maravai LifeSciences by 308.7% during the fourth quarter. Millennium Management LLC now owns 1,797,052 shares of the company’s stock valued at $5,840,000 after buying an additional 1,357,349 shares during the last quarter. First Eagle Investment Management LLC increased its position in shares of Maravai LifeSciences by 299.0% during the fourth quarter. First Eagle Investment Management LLC now owns 1,799,336 shares of the company’s stock worth $5,848,000 after acquiring an additional 1,348,405 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Maravai LifeSciences by 52.3% in the 4th quarter. Marshall Wace LLP now owns 2,000,278 shares of the company’s stock worth $6,501,000 after acquiring an additional 687,253 shares during the last quarter. 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.