Maravai LifeSciences (NASDAQ:MRVI) Reaches New 12-Month High – Should You Buy?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $5.32 and last traded at $5.2550, with a volume of 533257 shares. The stock had previously closed at $5.01.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MRVI shares. UBS Group restated a “reduce” rating on shares of Maravai LifeSciences in a research report on Wednesday, June 3rd. Wells Fargo & Company raised their price target on Maravai LifeSciences from $4.50 to $5.50 and gave the stock an “overweight” rating 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 research report on Friday, May 29th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $6.00 price target on shares of Maravai LifeSciences in a research report on Friday, May 8th. Finally, Wall Street Zen raised Maravai LifeSciences from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Three equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $5.50.

Maravai LifeSciences Price Performance

The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -7.30 and a beta of 0.72. The company has a current ratio of 5.91, a quick ratio of 4.96 and a debt-to-equity ratio of 0.72. The company has a 50 day moving average of $4.14 and a 200 day moving average of $3.66.

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

Insider Activity

In other Maravai LifeSciences 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 sale, the general counsel owned 360,767 shares of the company’s stock, valued at $1,825,481.02. This trade represents a 6.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.49% of the stock is owned by corporate insiders.

Institutional Trading of Maravai LifeSciences

Several hedge funds and other institutional investors have recently modified their holdings of MRVI. Royal Bank of Canada raised its stake in shares of Maravai LifeSciences by 49.0% in the 1st 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 during the period. Sprott Inc. acquired a new stake in shares of Maravai LifeSciences in the 3rd quarter valued at about $29,000. Quantessence Capital LLC acquired a new stake in shares of Maravai LifeSciences in the third quarter valued at about $31,000. Abel Hall LLC acquired a new stake in shares of Maravai LifeSciences in the third quarter valued at about $33,000. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of Maravai LifeSciences in the third quarter valued at about $33,000. 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.