Maravai LifeSciences (NASDAQ:MRVI) Stock Price Up 7% – Here’s Why

by · The Cerbat Gem

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Get Free Report) were up 7% during mid-day trading on Wednesday . The company traded as high as $7.68 and last traded at $7.61. Approximately 322,296 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 2,217,646 shares. The stock had previously closed at $7.11.

Analyst Upgrades and Downgrades

MRVI has been the subject of several analyst reports. The Goldman Sachs Group decreased their target price on shares of Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. UBS Group upped their target price on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Wells Fargo & Company initiated coverage on Maravai LifeSciences in a report on Tuesday, August 27th. They set an “overweight” rating and a $10.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $15.00 price objective on shares of Maravai LifeSciences in a report on Friday, August 16th. Finally, Morgan Stanley downgraded shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $11.00 to $10.00 in a research report on Tuesday, August 13th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Maravai LifeSciences has a consensus rating of “Moderate Buy” and a consensus target price of $10.67.

Check Out Our Latest Stock Report on Maravai LifeSciences

Maravai LifeSciences Trading Down 2.9 %

The company has a 50-day simple moving average of $8.30 and a 200-day simple moving average of $8.51. The stock has a market cap of $1.87 billion and a P/E ratio of -7.48. The company has a debt-to-equity ratio of 0.71, a quick ratio of 9.28 and a current ratio of 10.00.

Maravai LifeSciences (NASDAQ:MRVI – Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter. The company had revenue of $73.40 million for the quarter, compared to analyst estimates of $71.64 million. Maravai LifeSciences had a negative return on equity of 4.78% and a negative net margin of 47.41%. Maravai LifeSciences’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. On average, sell-side analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in Maravai LifeSciences by 310.2% in the second quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock valued at $26,000 after purchasing an additional 2,711 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Maravai LifeSciences during the second quarter valued at $32,000. Headlands Technologies LLC purchased a new stake in Maravai LifeSciences during the first quarter valued at $42,000. Blue Trust Inc. bought a new position in Maravai LifeSciences in the 2nd quarter worth $44,000. Finally, Custom Index Systems LLC purchased a new stake in Maravai LifeSciences in the 3rd quarter worth $97,000. 50.25% of the stock is owned by institutional investors.

About Maravai LifeSciences

(Get Free Report)

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.

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