Maravai LifeSciences (NASDAQ:MRVI) Stock Price Up 6.4% - What's Next?

Key Points

• Maravai LifeSciences shares rose 6.4% on Wednesday, trading as high as $6.90 on above-average volume of about 2.8 million shares.
• Analyst sentiment remains mixed: the stock has a Hold consensus rating and an average price target of $5.50, though some firms recently upgraded or reiterated buy or overweight views.
• The company beat its latest quarterly estimates, reporting $0.01 EPS versus expectations for a loss and revenue of $65.84 million versus $53.00 million expected.

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) shares traded up 6.4% during mid-day trading on Wednesday . The stock traded as high as $6.90 and last traded at $6.9240. Approximately 2,804,478 shares changed hands during mid-day trading, an increase of 32% from the average daily volume of 2,130,180 shares. The stock had previously closed at $6.51.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Wall Street Zen raised shares of Maravai LifeSciences from a "hold" rating to a "buy" rating in a report on Saturday, May 23rd. 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 increased their target price on Maravai LifeSciences from $4.50 to $5.50 and gave the company an "overweight" rating in a report on Friday, May 8th. UBS Group reaffirmed a "reduce" rating on shares of Maravai LifeSciences in a report on Wednesday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $6.00 price objective on shares of Maravai LifeSciences in a research report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $5.50.

Maravai LifeSciences Trading Up 6.4%

The company has a quick ratio of 4.96, a current ratio of 5.91 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $1.79 billion, a PE ratio of -9.77 and a beta of 0.65. The business's 50-day moving average is $5.13 and its two-hundred day moving average is $3.99.

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

Insider Buying and Selling at Maravai LifeSciences

In other news, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $5.06, for a total value of $126,500.00. Following the transaction, the general counsel directly owned 360,767 shares of the company's stock, valued at $1,825,481.02. The trade was a 6.48% decrease in their position. The sale was disclosed in a legal 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 Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada lifted its holdings in Maravai LifeSciences by 49.0% in the first quarter. Royal Bank of Canada now owns 9,761 shares of the company's stock valued at $27,000 after acquiring an additional 3,209 shares during the period. Quantessence Capital LLC acquired a new stake in shares of Maravai LifeSciences in the third quarter valued at about $31,000. Abel Hall LLC acquired a new stake in shares of Maravai LifeSciences in the third quarter valued at about $33,000. CIBC Bancorp USA Inc. acquired a new position in Maravai LifeSciences during the third quarter worth about $33,000. Finally, Virtu Financial LLC purchased a new position in Maravai LifeSciences in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 50.25% of the company's stock.

About Maravai LifeSciences

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.