Maravai LifeSciences (NASDAQ:MRVI) Hits New 52-Week High – What’s Next?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price reached a new 52-week high on Monday . The stock traded as high as $6.35 and last traded at $6.4760, with a volume of 403140 shares trading hands. The stock had previously closed at $6.22.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MRVI. Wall Street Zen upgraded shares of Maravai LifeSciences from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Weiss Ratings upgraded Maravai LifeSciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 29th. UBS Group reiterated a “reduce” rating on shares of Maravai LifeSciences in a research report on Wednesday, June 3rd. Wells Fargo & Company raised their target price on Maravai LifeSciences from $4.50 to $5.50 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $6.00 target price on shares of Maravai LifeSciences in a research report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Maravai LifeSciences presently has an average rating of “Hold” and a consensus target price of $5.50.

Maravai LifeSciences Price Performance

The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.96 and a current ratio of 5.91. The stock has a market cap of $1.61 billion, a PE ratio of -8.79 and a beta of 0.72. The stock’s 50-day moving average is $4.64 and its two-hundred day moving average is $3.81.

Maravai LifeSciences (NASDAQ:MRVI) last announced its earnings results on Thursday, May 7th. The company reported $0.01 earnings per share (EPS) 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 company had revenue of $65.84 million for the quarter, compared to analyst estimates of $53.00 million. On average, equities analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.2 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the firm’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 transaction, the general counsel directly owned 360,767 shares in the company, valued at $1,825,481.02. This trade represents a 6.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.49% of the stock is owned by company insiders.

Institutional Trading of Maravai LifeSciences

Hedge funds have recently made changes to their positions in the business. Royal Bank of Canada grew its holdings in shares of Maravai LifeSciences by 49.0% in the first quarter. Royal Bank of Canada now owns 9,761 shares of the company’s stock valued at $27,000 after purchasing an additional 3,209 shares in the last quarter. Sprott Inc. acquired a new stake in Maravai LifeSciences during the 3rd quarter worth approximately $29,000. Quantessence Capital LLC purchased a new position in Maravai LifeSciences in the 3rd quarter valued at approximately $31,000. Abel Hall LLC purchased a new position in Maravai LifeSciences in the 3rd quarter valued at approximately $33,000. Finally, CIBC Bancorp USA Inc. acquired a new position in shares of Maravai LifeSciences in the third quarter worth $33,000. Institutional investors and hedge funds 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.