Maravai LifeSciences (NASDAQ:MRVI) Hits New 12-Month High – Still a Buy?

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in 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. UBS Group reissued a “reduce” rating on shares of Maravai LifeSciences in a research report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $6.00 target price on shares of Maravai LifeSciences in a research report on Friday, May 8th. Weiss Ratings upgraded Maravai LifeSciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 29th. Finally, Wells Fargo & Company upped their target price on Maravai LifeSciences from $4.50 to $5.50 and gave the company an “overweight” rating in a research report on Friday, May 8th. Three analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.50.

Maravai LifeSciences Stock Performance

The company has a market cap of $1.64 billion, a P/E ratio of -8.95 and a beta of 0.71. The company has a quick ratio of 4.96, a current ratio of 5.91 and a debt-to-equity ratio of 0.72. The company has a 50 day moving average price of $4.53 and a 200-day moving average price of $3.77.

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

Insider Activity at Maravai LifeSciences

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $5.06, for a total value of $126,500.00. Following the sale, the general counsel directly owned 360,767 shares in the company, valued at $1,825,481.02. The trade was a 6.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 insiders.

Institutional Investors Weigh In On Maravai LifeSciences

Several hedge funds have recently modified their holdings of MRVI. Wellington Management Group LLP purchased a new stake in shares of Maravai LifeSciences in the fourth quarter valued at $7,670,000. General American Investors Co. Inc. lifted its position in Maravai LifeSciences by 1,062.2% in the 4th quarter. General American Investors Co. Inc. now owns 1,585,316 shares of the company’s stock worth $5,152,000 after buying an additional 1,448,907 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Maravai LifeSciences by 308.7% during the 4th quarter. Millennium Management LLC now owns 1,797,052 shares of the company’s stock valued at $5,840,000 after buying an additional 1,357,349 shares during the period. First Eagle Investment Management LLC boosted its stake in shares of Maravai LifeSciences by 299.0% during the 4th quarter. First Eagle Investment Management LLC now owns 1,799,336 shares of the company’s stock valued at $5,848,000 after buying an additional 1,348,405 shares during the period. Finally, Marshall Wace LLP grew its holdings in shares of Maravai LifeSciences by 52.3% during the 4th quarter. Marshall Wace LLP now owns 2,000,278 shares of the company’s stock valued at $6,501,000 after acquiring an additional 687,253 shares in the last quarter. 50.25% of the stock is owned by hedge funds and other 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.