Maravai LifeSciences (NASDAQ:MRVI) Trading Up 5.8%

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) shares were up 5.8% during trading on Monday . The stock traded as high as $8.90 and last traded at $8.88. Approximately 923,696 shares were traded during trading, a decline of 61% from the average daily volume of 2,379,746 shares. The stock had previously closed at $8.39.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. UBS Group increased their price objective on Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. The Goldman Sachs Group lifted their target price on Maravai LifeSciences from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $15.00 price objective on shares of Maravai LifeSciences in a research note on Friday, August 16th. Morgan Stanley cut Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $11.00 to $10.00 in a report on Tuesday, August 13th. Finally, Wells Fargo & Company assumed coverage on Maravai LifeSciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $10.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $10.78.

Maravai LifeSciences Trading Down 0.9 %

The company’s 50 day simple moving average is $8.89 and its 200-day simple moving average is $8.55. The company has a quick ratio of 9.28, a current ratio of 10.00 and a debt-to-equity ratio of 0.71. The firm has a market cap of $2.31 billion, a P/E ratio of -9.25 and a beta of 0.01.

Maravai LifeSciences (NASDAQ:MRVI) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter. Maravai LifeSciences had a negative net margin of 47.41% and a negative return on equity of 4.78%. The company had revenue of $73.40 million during the quarter, compared to analysts’ expectations of $71.64 million. During the same period last year, the firm earned ($0.06) earnings per share. Maravai LifeSciences’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, research analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of Maravai LifeSciences

Hedge funds have recently bought and sold shares of the stock. 12 West Capital Management LP boosted its holdings in Maravai LifeSciences by 13.8% in the first quarter. 12 West Capital Management LP now owns 13,202,988 shares of the company’s stock worth $114,470,000 after acquiring an additional 1,600,000 shares in the last quarter. Vanguard Group Inc. grew its holdings in Maravai LifeSciences by 0.3% in the first quarter. Vanguard Group Inc. now owns 10,038,126 shares of the company’s stock valued at $87,031,000 after purchasing an additional 34,232 shares during the period. Millennium Management LLC increased its holdings in Maravai LifeSciences by 12.3% in the 2nd quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock worth $42,735,000 after acquiring an additional 653,639 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Maravai LifeSciences by 16.8% during the second quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock worth $41,962,000 after purchasing an additional 844,325 shares in the last quarter. Finally, Braidwell LP raised its holdings in shares of Maravai LifeSciences by 26.8% during the fourth quarter. Braidwell LP now owns 5,040,635 shares of the company’s stock valued at $33,016,000 after acquiring an additional 1,065,778 shares during the last quarter. Hedge funds and other institutional investors own 50.25% of the company’s stock.

About Maravai LifeSciences

Maravai LifeSciences Holdings, Inc, a life sciences company, provides products to enable the development of drug therapies, diagnostics, novel vaccines, and support research on human diseases worldwide. The company’s products address the key phases of biopharmaceutical development and include nucleic acids for diagnostic and therapeutic applications, antibody-based products to detect impurities during the production of biopharmaceutical products, and products to detect the expression of proteins in tissues of various species.