Maravai LifeSciences (NASDAQ:MRVI) Trading 7.5% Higher - Here's Why

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) traded up 7.5% on Tuesday . The company traded as high as $2.78 and last traded at $2.80. 444,723 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 2,281,962 shares. The stock had previously closed at $2.60.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. UBS Group reduced their target price on shares of Maravai LifeSciences from $8.00 to $2.50 and set a "neutral" rating on the stock in a research report on Friday, March 21st. Robert W. Baird reduced 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. Morgan Stanley decreased their target price on 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. Craig Hallum lowered their target price on Maravai LifeSciences from $12.00 to $10.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Finally, Stifel Nicolaus set a $5.00 price target on Maravai LifeSciences in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $6.64.

Maravai LifeSciences Stock Performance

The company has a current ratio of 5.96, a quick ratio of 5.17 and a debt-to-equity ratio of 0.60. The firm's fifty day moving average is $2.27 and its 200 day moving average is $3.12. The company has a market cap of $691.40 million, a PE ratio of -2.38 and a beta of 0.28.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last announced its quarterly 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). Maravai LifeSciences had a negative net margin of 67.14% and a negative return on equity of 12.91%. The firm had revenue of $46.85 million for the quarter, compared to analyst estimates of $44.01 million. Maravai LifeSciences's revenue for the quarter was down 26.9% on a year-over-year basis. As a group, research analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.24 EPS for the current fiscal year.

Institutional Trading of Maravai LifeSciences

Several institutional investors have recently made changes to their positions in MRVI. Performa Ltd US LLC increased its stake in Maravai LifeSciences by 614.3% during the fourth quarter. Performa Ltd US LLC now owns 5,000 shares of the company's stock worth $27,000 after acquiring an additional 4,300 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Maravai LifeSciences by 12.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 70,828 shares of the company's stock worth $387,000 after purchasing an additional 7,946 shares during the last quarter. VELA Investment Management LLC raised its holdings in Maravai LifeSciences by 5.6% in the 1st quarter. VELA Investment Management LLC now owns 156,334 shares of the company's stock valued at $345,000 after buying an additional 8,222 shares during the period. Farther Finance Advisors LLC lifted its position 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 valued at $56,000 after buying an additional 9,916 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in Maravai LifeSciences by 15.7% during the fourth quarter. MetLife Investment Management LLC now owns 74,904 shares of the company's stock worth $408,000 after buying an additional 10,168 shares during the period. Hedge funds and other 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.