Maravai LifeSciences (NASDAQ:MRVI) Shares Up 8.5% - Should You Buy?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) rose 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 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 research firms have recently commented on MRVI. Morgan Stanley dropped their price objective 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. Robert W. Baird dropped their price objective on Maravai LifeSciences from $3.00 to $2.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Bank of America dropped their price objective on Maravai LifeSciences from $9.00 to $8.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Stifel Nicolaus set a $5.00 price objective on Maravai LifeSciences in a report on Friday, March 21st. Finally, UBS Group dropped their price objective on Maravai LifeSciences from $8.00 to $2.50 and set a "neutral" rating on the stock in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Maravai LifeSciences currently has an average rating of "Hold" and an average price target of $6.64.

Maravai LifeSciences Stock Down 4.6%

The firm has a 50 day simple moving average of $2.05 and a two-hundred day simple moving average of $3.61. The company has a market capitalization of $580.62 million, a PE ratio of -1.39 and a beta of 0.25. 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 announced its earnings results on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The company had revenue of $46.85 million during the quarter, compared to analysts' expectations 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% on a year-over-year basis. Research analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.24 EPS for the current year.

Institutional Trading of Maravai LifeSciences

Hedge funds have recently modified their holdings of the business. Strs Ohio acquired a new position in Maravai LifeSciences during the first quarter worth $429,000. McAdam LLC acquired a new position in Maravai LifeSciences during the first quarter worth $31,000. Jane Street Group LLC raised its holdings in Maravai LifeSciences by 1,463.1% during the first quarter. Jane Street Group LLC now owns 380,403 shares of the company's stock worth $841,000 after purchasing an additional 356,067 shares during the last quarter. Ascent Group LLC acquired a new position in Maravai LifeSciences during the first quarter worth $41,000. Finally, Clearline Capital LP raised its holdings in Maravai LifeSciences by 9.6% during the first quarter. Clearline Capital LP now owns 205,339 shares of the company's stock worth $454,000 after purchasing an additional 18,000 shares during the last quarter. 50.25% of the stock is 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.