Maravai LifeSciences (NASDAQ:MRVI) Hits New 52-Week High – Here’s Why

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $7.59 and last traded at $7.4750, with a volume of 2543436 shares changing hands. The stock had previously closed at $5.74.

Analyst Ratings Changes

Several brokerages recently weighed in on MRVI. Wells Fargo & Company boosted their target price on shares of Maravai LifeSciences from $5.50 to $6.50 and gave the company an “overweight” rating in a research note on Friday, August 7th. Wall Street Zen upgraded shares of Maravai LifeSciences from a “hold” rating to a “buy” rating in a report on Saturday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $6.00 price objective on shares of Maravai LifeSciences in a research report on Friday, May 8th. Weiss Ratings raised Maravai LifeSciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 29th. Finally, UBS Group reiterated a “reduce” rating on shares of Maravai LifeSciences in a research note on Wednesday, June 3rd. Two research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.25.

Maravai LifeSciences Stock Performance

The stock’s fifty day simple moving average is $6.10 and its two-hundred day simple moving average is $4.49. The company has a market cap of $1.86 billion, a price-to-earnings ratio of -13.82 and a beta of 0.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.98 and a current ratio of 4.05.

Maravai LifeSciences (NASDAQ:MRVI) last issued its earnings results on Thursday, August 6th. The company reported ($0.02) earnings per share for the quarter, topping 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 business had revenue of $51.44 million for the quarter, compared to analyst estimates of $48.67 million. Equities research analysts anticipate that Maravai LifeSciences Holdings, Inc. will post -0.2 EPS for the current year.

Insider Buying and Selling

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $5.06, for a total transaction of $126,500.00. Following the completion of the sale, the general counsel directly owned 360,767 shares in the company, valued at $1,825,481.02. This represents a 6.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.49% of the stock is owned by corporate insiders.

Institutional Trading of Maravai LifeSciences

Institutional investors have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. raised its holdings in Maravai LifeSciences by 2.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,336,680 shares of the company’s stock valued at $20,595,000 after buying an additional 178,445 shares during the period. Mackenzie Financial Corp grew its stake in Maravai LifeSciences by 1.7% during the fourth quarter. Mackenzie Financial Corp now owns 6,173,656 shares of the company’s stock worth $20,148,000 after buying an additional 104,355 shares during the period. Renaissance Technologies LLC grew its stake in Maravai LifeSciences by 0.9% during the first quarter. Renaissance Technologies LLC now owns 4,264,689 shares of the company’s stock worth $12,069,000 after buying an additional 39,600 shares during the period. Tejara Capital Ltd increased its position in shares of Maravai LifeSciences by 23.1% in the fourth quarter. Tejara Capital Ltd now owns 3,020,209 shares of the company’s stock worth $9,816,000 after acquiring an additional 566,768 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Maravai LifeSciences by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 2,848,105 shares of the company’s stock worth $9,259,000 after acquiring an additional 34,447 shares in the last quarter. Hedge funds and other institutional investors own 50.25% of the company’s stock.

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.