Maravai LifeSciences (NASDAQ:MRVI) Hits New 1-Year High – Still a Buy?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $7.28 and last traded at $7.21, with a volume of 1077 shares trading hands. The stock had previously closed at $7.24.

Analysts Set New Price Targets

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

Maravai LifeSciences Stock Up 0.3%

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 market capitalization of $1.87 billion, a P/E ratio of -10.16 and a beta of 0.65. The company has a 50-day moving average of $5.31 and a two-hundred day moving average of $4.07.

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, topping analysts’ consensus estimates of ($0.05) by $0.06. The business had revenue of $65.84 million during 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%. On average, research analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.2 EPS for the current year.

Insider Activity

In related news, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences stock in a transaction dated Tuesday, June 9th. The shares were 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 of the company’s stock, 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 at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.49% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Maravai LifeSciences

Several large investors have recently made changes to their positions in the business. Wellington Management Group LLP bought a new position in Maravai LifeSciences during the 4th quarter valued at approximately $7,670,000. General American Investors Co. Inc. raised its holdings 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 acquiring an additional 1,448,907 shares during the last quarter. Millennium Management LLC boosted its stake in 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 purchasing an additional 1,357,349 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Maravai LifeSciences by 299.0% in the 4th quarter. First Eagle Investment Management LLC now owns 1,799,336 shares of the company’s stock worth $5,848,000 after purchasing an additional 1,348,405 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Maravai LifeSciences by 52.3% during the fourth quarter. Marshall Wace LLP now owns 2,000,278 shares of the company’s stock valued at $6,501,000 after purchasing an additional 687,253 shares in the last quarter. 50.25% of the stock is currently owned by hedge funds and other institutional investors.

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.