Maravai LifeSciences (NASDAQ:MRVI) Hits New 52-Week High – Time to Buy?

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $5.33 and last traded at $5.25, with a volume of 1467997 shares changing hands. The stock had previously closed at $5.20.

Analyst Ratings Changes

A number of equities analysts have recently commented on MRVI shares. UBS Group reaffirmed a “reduce” rating on shares of Maravai LifeSciences in a report on Wednesday, June 3rd. Wall Street Zen raised shares of Maravai LifeSciences from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Weiss Ratings upgraded shares of 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 price objective on shares of Maravai LifeSciences in a report on Friday, May 8th. Finally, Wells Fargo & Company increased their target price on Maravai LifeSciences from $4.50 to $5.50 and gave the stock an “overweight” rating in a report on Friday, May 8th. Three 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, Maravai LifeSciences currently has a consensus rating of “Hold” and an average target price of $5.50.

Maravai LifeSciences Stock Up 1.0%

The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -7.39 and a beta of 0.71. The firm has a fifty day moving average price of $4.32 and a 200 day moving average price of $3.71. The company has a current ratio of 5.91, a quick ratio of 4.96 and a debt-to-equity ratio of 0.72.

Maravai LifeSciences (NASDAQ:MRVI) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.06. Maravai LifeSciences had a negative return on equity of 17.87% and a negative net margin of 51.07%.The firm had revenue of $65.84 million during the quarter, compared to analysts’ expectations of $53.00 million. Sell-side analysts anticipate that Maravai LifeSciences Holdings, Inc. will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling at Maravai LifeSciences

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

Institutional Investors Weigh In On Maravai LifeSciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC grew its stake in shares of Maravai LifeSciences by 1,463.1% during the first quarter. Jane Street Group LLC now owns 380,403 shares of the company’s stock valued at $841,000 after purchasing an additional 356,067 shares during the last quarter. Creative Planning raised its position in Maravai LifeSciences by 49.6% in the 2nd quarter. Creative Planning now owns 116,031 shares of the company’s stock worth $280,000 after purchasing an additional 38,450 shares during the last quarter. Rhumbline Advisers lifted its holdings in Maravai LifeSciences by 20.3% during the 2nd quarter. Rhumbline Advisers now owns 195,272 shares of the company’s stock worth $471,000 after buying an additional 32,940 shares in the last quarter. Prudential Financial Inc. acquired a new position in Maravai LifeSciences during the 2nd quarter worth $36,000. Finally, Invesco Ltd. boosted its position in Maravai LifeSciences by 16.8% in the 2nd quarter. Invesco Ltd. now owns 282,192 shares of the company’s stock valued at $680,000 after buying an additional 40,495 shares during the last quarter. Institutional investors and hedge funds own 50.25% of the company’s stock.

About Maravai LifeSciences

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.