Maravai LifeSciences (NASDAQ:MRVI) Trading 8.5% Higher - What's Next?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report)'s share price was up 8.5% on Friday . The stock traded as high as $2.39 and last traded at $2.36. Approximately 226,506 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 2,327,696 shares. The stock had previously closed at $2.17.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Craig Hallum dropped their price objective on shares of Maravai LifeSciences from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Bank of America reduced their price objective on Maravai LifeSciences from $9.00 to $8.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Stifel Nicolaus set a $5.00 target price 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, Morgan Stanley decreased their target price on shares of Maravai LifeSciences from $7.00 to $5.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 25th. One investment 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. Based on data from MarketBeat.com, Maravai LifeSciences presently has a consensus rating of "Hold" and an average target price of $6.64.

Maravai LifeSciences Stock Performance

The firm has a market cap of $609.91 million, a price-to-earnings ratio of -1.46 and a beta of 0.25. The stock's 50 day moving average is $2.05 and its 200 day moving average is $3.65. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last released its quarterly 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 net margin of 81.13% and a negative return on equity of 6.61%. The business had revenue of $46.85 million during the quarter, compared to analyst estimates of $44.01 million. The business's revenue was down 26.9% compared to the same quarter last year. Analysts anticipate that Maravai LifeSciences Holdings, Inc. will post -0.24 earnings per share for the current year.

Institutional Trading of Maravai LifeSciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Performa Ltd US LLC increased its stake in shares of Maravai LifeSciences by 614.3% in the fourth quarter. Performa Ltd US LLC now owns 5,000 shares of the company's stock valued at $27,000 after buying an additional 4,300 shares during the period. Farther Finance Advisors LLC grew its holdings in Maravai LifeSciences by 3,541.4% in the fourth quarter. Farther Finance Advisors LLC now owns 10,196 shares of the company's stock worth $56,000 after purchasing an additional 9,916 shares during the period. Cibc World Markets Corp bought a new position in shares of Maravai LifeSciences during the 4th quarter worth about $56,000. Atria Investments Inc bought a new position in shares of Maravai LifeSciences in the 4th quarter worth $58,000. Finally, McAdam LLC acquired a new position in Maravai LifeSciences during the first quarter worth $31,000. 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.

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.