Maravai LifeSciences (NASDAQ:MRVI) Sees Unusually-High Trading Volume – Here’s Why

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) saw an uptick in trading volume on Thursday . 2,318,486 shares changed hands during mid-day trading, an increase of 4% from the previous session’s volume of 2,227,500 shares.The stock last traded at $7.9750 and had previously closed at $7.22.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $6.00 price target on shares of Maravai LifeSciences in a research note on Friday, May 8th. Wall Street Zen raised shares of Maravai LifeSciences from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. UBS Group restated a “reduce” rating on shares of Maravai LifeSciences in a research report on Wednesday, June 3rd. Weiss Ratings raised shares of Maravai LifeSciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 29th. Finally, Wells Fargo & Company increased their price target on shares of Maravai LifeSciences from $5.50 to $6.50 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $6.25.

Maravai LifeSciences Stock Performance

The stock has a market cap of $2.10 billion, a P/E ratio of -15.58 and a beta of 0.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.05 and a quick ratio of 2.98. The firm’s 50-day moving average price is $6.15 and its 200-day moving average price is $4.51.

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 analysts’ consensus estimates of ($0.04) by $0.02. The firm had revenue of $51.44 million during the quarter, compared to analyst estimates of $48.67 million. Maravai LifeSciences had a negative net margin of 37.07% and a negative return on equity of 15.70%. Sell-side analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.2 earnings per share for the current fiscal year.

Insider Activity at Maravai LifeSciences

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the 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 completion of the transaction, the general counsel owned 360,767 shares of the company’s stock, valued at $1,825,481.02. This represents a 6.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.49% of the stock is owned by company insiders.

Hedge Funds Weigh In On Maravai LifeSciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MRVI. Dimensional Fund Advisors LP increased its stake 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 acquiring an additional 558,050 shares during the last quarter. Brummer Multi Strategy AB purchased a new position in shares of Maravai LifeSciences in the fourth quarter valued at $1,488,000. Eversept Partners LP increased its position in Maravai LifeSciences by 147.2% in the fourth quarter. Eversept Partners LP now owns 718,582 shares of the company’s stock worth $2,335,000 after purchasing an additional 427,909 shares during the last quarter. Capricorn Fund Managers Ltd purchased a new position in shares of Maravai LifeSciences in the 1st quarter worth $961,000. Finally, Yost Capital Management LP bought a new stake in shares of Maravai LifeSciences in the 4th quarter worth about $410,000. 50.25% of the stock is owned by institutional investors.

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.