Maravai LifeSciences (NASDAQ:MRVI) Trading 6.1% Higher - Here's Why

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) shares rose 6.1% during mid-day trading on Thursday . The stock traded as high as $2.31 and last traded at $2.35. Approximately 90,810 shares were traded during trading, a decline of 96% from the average daily volume of 2,343,125 shares. The stock had previously closed at $2.21.

Analyst Upgrades and Downgrades

MRVI has been the topic of several research reports. Stifel Nicolaus set a $5.00 target price on Maravai LifeSciences in a research note on Friday, March 21st. Bank of America cut their price target on Maravai LifeSciences from $9.00 to $8.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Craig Hallum cut their price target on Maravai LifeSciences from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Morgan Stanley cut their price target on Maravai LifeSciences from $7.00 to $5.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 25th. Finally, Robert W. Baird cut their price target on Maravai LifeSciences from $3.00 to $2.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Maravai LifeSciences presently has an average rating of "Hold" and a consensus price target of $6.64.

Maravai LifeSciences Stock Down 4.6%

The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. The firm has a fifty day moving average price of $2.06 and a 200 day moving average price of $3.72. The firm has a market capitalization of $575.53 million, a price-to-earnings ratio of -1.38 and a beta of 0.19.

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). The business had revenue of $46.85 million during the quarter, compared to analyst estimates of $44.01 million. Maravai LifeSciences had a negative net margin of 81.13% and a negative return on equity of 6.61%. The company's quarterly revenue was down 26.9% compared to the same quarter last year. As a group, sell-side analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.24 EPS for the current fiscal year.

Institutional Trading of Maravai LifeSciences

Institutional investors and hedge funds have recently bought and sold shares of the company. Empowered Funds LLC acquired a new stake in Maravai LifeSciences during the fourth quarter valued at approximately $155,000. Bleakley Financial Group LLC raised its stake in Maravai LifeSciences by 30.1% during the fourth quarter. Bleakley Financial Group LLC now owns 41,691 shares of the company's stock valued at $227,000 after buying an additional 9,657 shares in the last quarter. ProShare Advisors LLC raised its stake in Maravai LifeSciences by 89.8% during 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 in the last quarter. Rhumbline Advisers raised its stake in Maravai LifeSciences by 9.9% during 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. Finally, KLP Kapitalforvaltning AS acquired a new stake in Maravai LifeSciences during the fourth quarter valued at approximately $112,000. Institutional investors and hedge funds own 50.25% of the company's stock.

About Maravai LifeSciences

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.