Maravai LifeSciences (NASDAQ:MRVI) Shares Up 4.7% - Here's What Happened

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) was up 4.7% on Friday . The company traded as high as $2.11 and last traded at $2.11. Approximately 257,954 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 2,318,294 shares. The stock had previously closed at $2.01.

Wall Street Analyst Weigh In

MRVI has been the topic of several recent research reports. UBS Group dropped their price target on Maravai LifeSciences from $8.00 to $2.50 and set a "neutral" rating on the stock in a research note on Friday, March 21st. Bank of America cut their target price on Maravai LifeSciences from $9.00 to $8.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Stifel Nicolaus set a $5.00 price target on Maravai LifeSciences in a research report on Friday, March 21st. Robert W. Baird lowered their price objective on shares of Maravai LifeSciences from $3.00 to $2.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Finally, Craig Hallum cut their price objective on shares of Maravai LifeSciences from $12.00 to $10.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $6.64.

Maravai LifeSciences Price Performance

The business has a fifty day moving average of $2.09 and a 200 day moving average of $3.38. The firm has a market cap of $537.33 million, a P/E ratio of -1.85 and a beta of 0.25. The company has a quick ratio of 5.17, a current ratio of 5.96 and a debt-to-equity ratio of 0.60.

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

Hedge Funds Weigh In On Maravai LifeSciences

A number of large investors have recently made changes to their positions in the company. Empowered Funds LLC acquired a new stake in shares of Maravai LifeSciences during the fourth quarter worth $155,000. Rhumbline Advisers raised its position in shares of Maravai LifeSciences by 9.9% in the fourth quarter. Rhumbline Advisers now owns 185,221 shares of the company's stock valued at $1,009,000 after buying an additional 16,712 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in shares of Maravai LifeSciences by 155.9% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 32,359 shares of the company's stock valued at $176,000 after buying an additional 19,713 shares during the period. VELA Investment Management LLC grew its position in Maravai LifeSciences by 54.5% during the fourth quarter. VELA Investment Management LLC now owns 148,112 shares of the company's stock worth $807,000 after buying an additional 52,246 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Maravai LifeSciences by 65.1% during the fourth quarter. Victory Capital Management Inc. now owns 96,273 shares of the company's stock worth $525,000 after buying an additional 37,946 shares in the last quarter. Institutional investors own 50.25% of the company's stock.

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.