Maravai LifeSciences (NASDAQ:MRVI) Shares Gap Up - Time to Buy?

Key Points

• Maravai LifeSciences (NASDAQ:MRVI) shares saw a significant increase, opening at $2.33 after closing at $2.06, with the stock last trading at $2.59.
• Recent analyst reports have resulted in varied target price adjustments, with Robert W. Baird reducing their target from $3.00 to $2.00, while Craig Hallum set theirs at $10.00 with a "buy" rating.
• The company reported an earnings miss, with an EPS of (-0.08) against a consensus estimate of (-0.07), and a year-over-year revenue decline of 26.9%.

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $2.06, but opened at $2.33. Maravai LifeSciences shares last traded at $2.59, with a volume of 1,442,809 shares traded.

Wall Street Analysts Forecast Growth

MRVI has been the subject of several research analyst reports. Robert W. Baird decreased their price target on shares of Maravai LifeSciences from $3.00 to $2.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Royal Bank Of Canada lowered their target price on Maravai LifeSciences from $7.00 to $5.00 and set an "outperform" rating on the stock in a research note on Tuesday. Finally, Craig Hallum lowered their target price on Maravai LifeSciences from $12.00 to $10.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Maravai LifeSciences currently has an average rating of "Hold" and a consensus target price of $5.75.

Maravai LifeSciences Trading Up 23.5%

The company has a 50 day moving average of $2.39 and a 200-day moving average of $2.64. The company has a debt-to-equity ratio of 0.60, a quick ratio of 5.17 and a current ratio of 5.96. The stock has a market cap of $648.11 million, a price-to-earnings ratio of -2.23 and a beta of 0.28.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Maravai LifeSciences had a negative return on equity of 12.91% and a negative net margin of 67.14%. The company had revenue of $46.85 million for the quarter, compared to analyst estimates of $44.01 million. Maravai LifeSciences's revenue for the quarter was down 26.9% on a year-over-year basis. On average, research analysts anticipate that Maravai LifeSciences Holdings, Inc. will post -0.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. ProShare Advisors LLC raised its position in shares of Maravai LifeSciences by 89.8% in the fourth quarter. ProShare Advisors LLC now owns 55,488 shares of the company's stock valued at $302,000 after buying an additional 26,251 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Maravai LifeSciences by 22.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 251,214 shares of the company's stock valued at $1,369,000 after buying an additional 45,454 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Maravai LifeSciences by 2,005.9% in the first quarter. SG Americas Securities LLC now owns 695,907 shares of the company's stock valued at $1,538,000 after purchasing an additional 662,861 shares during the period. Northern Trust Corp increased its stake in shares of Maravai LifeSciences by 5.3% in the fourth quarter. Northern Trust Corp now owns 1,070,425 shares of the company's stock valued at $5,834,000 after purchasing an additional 53,474 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in Maravai LifeSciences by 12.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 70,828 shares of the company's stock valued at $387,000 after buying an additional 7,946 shares in the last quarter. 50.25% of the stock is currently owned by institutional investors and hedge funds.

Maravai LifeSciences Company Profile

Maravai LifeSciences Holdings, Inc, a life sciences company, provides products to enable the development of drug therapies, diagnostics, novel vaccines, and support research on human diseases worldwide. The company's products address the key phases of biopharmaceutical development and include nucleic acids for diagnostic and therapeutic applications, antibody-based products to detect impurities during the production of biopharmaceutical products, and products to detect the expression of proteins in tissues of various species.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.