Maravai LifeSciences (NASDAQ:MRVI) Reaches New 12-Month High After Analyst Upgrade

Key Points

• Maravai LifeSciences hit a new 52-week high after Wells Fargo raised its price target to $5.50 from $4.50 and reiterated an overweight rating. The stock traded as high as $4.95, up sharply from the prior close of $3.94.
• Recent analyst moves were mixed, with Wall Street Zen upgrading MRVI from sell to hold. Overall, the stock has a Moderate Buy consensus and an average target price of $5.70.
• The company’s latest quarterly results beat expectations, reporting $0.01 EPS versus a loss forecast and revenue of $65.84 million versus $53 million expected. Institutional investors also increased holdings significantly, and institutions now own 50.25% of the stock.

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) reached a new 52-week high during trading on Saturday after Wells Fargo & Company raised their price target on the stock from $4.50 to $5.50. Wells Fargo & Company currently has an overweight rating on the stock. Maravai LifeSciences traded as high as $4.95 and last traded at $4.85, with a volume of 11235952 shares changing hands. The stock had previously closed at $3.94.

Separately, Wall Street Zen raised shares of Maravai LifeSciences from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Maravai LifeSciences currently has an average rating of "Moderate Buy" and an average target price of $5.70.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MRVI. Monaco Asset Management SAM increased its stake in shares of Maravai LifeSciences by 315.0% in the third quarter. Monaco Asset Management SAM now owns 3,656,337 shares of the company's stock valued at $10,494,000 after purchasing an additional 2,775,372 shares during the period. Wellington Management Group LLP acquired a new position in shares of Maravai LifeSciences during the fourth quarter worth approximately $7,670,000. General American Investors Co. Inc. boosted its position in shares of Maravai LifeSciences by 1,062.2% during the fourth 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 during the period. Millennium Management LLC grew its holdings in Maravai LifeSciences by 308.7% in the 4th quarter. Millennium Management LLC now owns 1,797,052 shares of the company's stock worth $5,840,000 after buying an additional 1,357,349 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its position in 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 valued at $5,848,000 after acquiring an additional 1,348,405 shares during the period. Institutional investors own 50.25% of the company's stock.

Maravai LifeSciences Trading Up 23.1%

The firm has a 50-day moving average of $3.33 and a 200 day moving average of $3.39. The company has a current ratio of 6.60, a quick ratio of 5.69 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -6.83 and a beta of 0.62.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last announced its quarterly earnings results 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. Maravai LifeSciences had a negative return on equity of 17.29% and a negative net margin of 51.07%.The company had revenue of $65.84 million during the quarter, compared to analyst estimates of $53.00 million. As a group, equities analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.26 EPS for the current fiscal year.

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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