Maravai LifeSciences (NASDAQ:MRVI) Hits New 1-Year High - Time to Buy?

Key Points

• Maravai LifeSciences hit a new 52-week high, trading as high as $6.61 after recently closing at $6.36, with the stock up modestly on the day.
• Analyst sentiment is mixed: the stock has recent upgrades and higher price targets, but the overall consensus remains Hold with an average target of $5.50.
• The company beat its latest earnings estimates, reporting $0.01 EPS versus expectations of a loss and revenue of $65.84 million, while an insider recently sold shares under a pre-arranged trading plan.

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $6.61 and last traded at $6.4530, with a volume of 146820 shares traded. The stock had previously closed at $6.36.

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Analyst Upgrades and Downgrades

Several research firms have recently commented on MRVI. Weiss Ratings raised shares of Maravai LifeSciences from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, May 29th. Wells Fargo & Company raised their target price on Maravai LifeSciences from $4.50 to $5.50 and gave the stock an "overweight" rating in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $6.00 target price 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 note on Wednesday, June 3rd. Finally, Wall Street Zen raised Maravai LifeSciences from a "hold" rating to a "buy" rating in a research report on Saturday, May 23rd. Three analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Maravai LifeSciences presently has an average rating of "Hold" and a consensus price target of $5.50.

Maravai LifeSciences Stock Up 0.1%

The company has a market capitalization of $1.64 billion, a PE ratio of -8.94 and a beta of 0.65. The company's 50 day moving average is $5.08 and its two-hundred day moving average is $3.97. The company has a quick ratio of 4.96, a current ratio of 5.91 and a debt-to-equity ratio of 0.72.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.06. Maravai LifeSciences had a negative net margin of 51.07% and a negative return on equity of 17.87%. The business had revenue of $65.84 million for the quarter, compared to analysts' expectations of $53.00 million. On average, analysts anticipate that Maravai LifeSciences Holdings, Inc. will post -0.2 earnings per share for the current year.

Insider Buying and Selling

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 9th. The stock was 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 owned 360,767 shares in the company, valued at $1,825,481.02. This trade represents a 6.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.49% of the company's stock.

Institutional Investors Weigh In On Maravai LifeSciences

Several large investors have recently bought and sold shares of MRVI. Royal Bank of Canada grew 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 worth $27,000 after buying an additional 3,209 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Maravai LifeSciences by 0.9% during the 1st quarter. Renaissance Technologies LLC now owns 4,264,689 shares of the company's stock valued at $12,069,000 after buying an additional 39,600 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Maravai LifeSciences during the 1st quarter valued at about $238,000. Dimensional Fund Advisors LP lifted its holdings in shares of Maravai LifeSciences by 64.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,418,597 shares of the company's stock valued at $4,015,000 after acquiring an additional 558,050 shares during the last quarter. Finally, Brummer Multi Strategy AB lifted its holdings in shares of Maravai LifeSciences by 66.0% in the 1st quarter. Brummer Multi Strategy AB now owns 759,743 shares of the company's stock valued at $2,150,000 after acquiring an additional 302,036 shares during the last quarter. Institutional investors own 50.25% of the company's stock.

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.

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