Maravai LifeSciences (NASDAQ:MRVI) Stock Price Breaks Above 50-Day Moving Average - Here's What Happened

Key Points

• Maravai LifeSciences shares rose above their 50-day moving average, trading as high as $7.62 and last at $7.52, versus a 50-day average of $7.37.
• Analysts have a consensus “Moderate Buy” rating and a $7.38 average price target, with recent targets ranging from $6.50 to $9.00.
• The company reported a quarterly loss of $0.03 per share, better than the $0.06 loss analysts expected, while revenue of $45.85 million also topped estimates.

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $7.37 and traded as high as $7.62. Maravai LifeSciences shares last traded at $7.52, with a volume of 1,936,352 shares changing hands.

Analyst Upgrades and Downgrades

MRVI has been the subject of a number of research reports. UBS Group raised their price objective on shares of Maravai LifeSciences from $2.50 to $8.00 and gave the company a "neutral" rating in a report on Wednesday, September 9th. Wells Fargo & Company increased their target price on shares of Maravai LifeSciences from $5.50 to $6.50 and gave the stock an "overweight" rating in a research note on Friday, August 7th. TD Cowen started coverage on shares of Maravai LifeSciences in a research note on Monday, October 5th. They issued a "buy" rating and a $9.00 target price for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Maravai LifeSciences in a research report on Wednesday, August 26th. Finally, Wall Street Zen raised Maravai LifeSciences from a "hold" rating to a "buy" rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $7.38.

Maravai LifeSciences Stock Performance

The company has a current ratio of 4.05, a quick ratio of 2.98 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average of $7.37 and a 200-day moving average of $5.33. The firm has a market capitalization of $1.95 billion, a P/E ratio of -17.49 and a beta of 0.61.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last issued its earnings results on Wednesday, November 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.03. The business had revenue of $45.85 million during the quarter, compared to the consensus estimate of $43.56 million. Maravai LifeSciences had a negative return on equity of 15.70% and a negative net margin of 37.07%. On average, equities analysts anticipate that Maravai LifeSciences Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MRVI. Renaissance Technologies LLC boosted its stake in shares of Maravai LifeSciences by 0.9% in the first quarter. Renaissance Technologies LLC now owns 4,264,689 shares of the company's stock valued at $12,069,000 after purchasing an additional 39,600 shares during the period. General American Investors Co. Inc. increased its position in shares of Maravai LifeSciences by 8.3% during the first quarter. General American Investors Co. Inc. now owns 1,716,193 shares of the company's stock valued at $4,857,000 after acquiring an additional 130,877 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Maravai LifeSciences by 64.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,418,597 shares of the company's stock valued at $4,015,000 after acquiring an additional 558,050 shares in the last quarter. Brummer Multi Strategy AB boosted its position in shares of Maravai LifeSciences by 66.0% in the first quarter. Brummer Multi Strategy AB now owns 759,743 shares of the company's stock worth $2,150,000 after purchasing an additional 302,036 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in Maravai LifeSciences in the second quarter valued at approximately $2,230,000. Hedge funds and other institutional investors own 50.25% of the company's stock.

About Maravai LifeSciences

Maravai LifeSciences Holdings, Inc is a life sciences company that provides products and services used in the development, manufacture and quality testing of biopharmaceuticals, vaccines and diagnostic products. The company serves pharmaceutical, biotechnology, academic and other research organizations involved in nucleic acid and biologics development.

Through its TriLink BioTechnologies business, Maravai supplies specialized nucleic acid products and services, including modified nucleotides, messenger RNA-related materials, enzymes and other components used in research and biomanufacturing.

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