Maravai LifeSciences (NASDAQ:MRVI) Trading 4.6% Higher

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) shares were up 4.6% on Tuesday . The company traded as high as $8.49 and last traded at $8.23. Approximately 494,416 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 2,701,688 shares. The stock had previously closed at $7.87.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MRVI shares. Stifel Nicolaus dropped their target price on Maravai LifeSciences from $11.00 to $10.00 and set a "buy" rating on the stock in a report on Friday, February 23rd. Bank of America upgraded Maravai LifeSciences from a "neutral" rating to a "buy" rating and dropped their target price for the company from $10.00 to $8.00 in a report on Tuesday, December 12th. Finally, Royal Bank of Canada increased their price objective on Maravai LifeSciences from $12.00 to $14.00 and gave the stock an "outperform" rating in a report on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $11.13.

Maravai LifeSciences Stock Performance

The stock has a market capitalization of $2.14 billion, a P/E ratio of -9.46 and a beta of 0.01. The firm has a 50-day moving average of $7.14 and a 200 day moving average of $6.80. The company has a quick ratio of 7.41, a current ratio of 8.00 and a debt-to-equity ratio of 0.70.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last issued its earnings results on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The firm had revenue of $74.14 million during the quarter, compared to the consensus estimate of $62.99 million. Maravai LifeSciences had a negative return on equity of 1.31% and a negative net margin of 41.19%. Research analysts anticipate that Maravai LifeSciences Holdings, Inc. will post -0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Zions Bancorporation N.A. acquired a new position in Maravai LifeSciences during the first quarter worth $28,000. Gladius Capital Management LP acquired a new position in Maravai LifeSciences during the fourth quarter worth $30,000. Meeder Asset Management Inc. acquired a new position in Maravai LifeSciences during the first quarter worth $31,000. China Universal Asset Management Co. Ltd. raised its stake in Maravai LifeSciences by 96.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 3,391 shares of the company's stock worth $34,000 after acquiring an additional 1,662 shares in the last quarter. Finally, Signaturefd LLC raised its stake in Maravai LifeSciences by 99.9% during the third quarter. Signaturefd LLC now owns 3,364 shares of the company's stock worth $34,000 after acquiring an additional 1,681 shares in the last quarter. 50.25% of the stock is owned by institutional investors.

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.