Wall Street Zen Upgrades Maravai LifeSciences (NASDAQ:MRVI) to Buy

Key Points

• Wall Street Zen upgraded Maravai LifeSciences from “hold” to “buy,” while the broader analyst consensus remains “hold” with a $6.25 target price.
• Maravai exceeded quarterly expectations, reporting a loss of $0.02 per share versus the anticipated $0.04 loss and revenue of $51.44 million compared with estimates of $48.67 million.
• MRVI shares opened at $5.70, with a market capitalization of $1.48 billion; institutional investors own 50.25% of the stock, while an executive recently sold 25,000 shares under a pre-arranged trading plan.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company increased their price target on Maravai LifeSciences from $5.50 to $6.50 and gave the stock an "overweight" rating in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $6.00 target price on shares of Maravai LifeSciences in a report on Friday, May 8th. UBS Group reiterated a "reduce" rating on shares of Maravai LifeSciences in a research note on Wednesday, June 3rd. Finally, Weiss Ratings raised shares of Maravai LifeSciences from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, May 29th. Two research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $6.25.

Maravai LifeSciences Stock Performance

Shares of MRVI stock opened at $5.70 on Friday. The stock has a market capitalization of $1.48 billion, a PE ratio of -10.96 and a beta of 0.63. Maravai LifeSciences has a 52-week low of $2.28 and a 52-week high of $7.44. The stock's 50-day moving average price is $6.08 and its 200 day moving average price is $4.45. The company has a quick ratio of 4.96, a current ratio of 4.05 and a debt-to-equity ratio of 0.49.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.04) by $0.02. Maravai LifeSciences had a negative return on equity of 15.70% and a negative net margin of 37.07%.The company had revenue of $51.44 million during the quarter, compared to analysts' expectations of $48.67 million. As a group, equities research analysts forecast that Maravai LifeSciences will post -0.2 EPS for the current year.

Insider Buying and Selling at Maravai LifeSciences

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $5.06, for a total value of $126,500.00. Following the completion of the transaction, the general counsel owned 360,767 shares in the company, valued at $1,825,481.02. This trade represents a 6.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.49% of the stock is currently owned by company insiders.

Institutional Trading of Maravai LifeSciences

A number of institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its position in Maravai LifeSciences by 49.0% during the first quarter. Royal Bank of Canada now owns 9,761 shares of the company's stock worth $27,000 after buying an additional 3,209 shares during the period. Barclays PLC lifted its position in shares of Maravai LifeSciences by 3.0% during the 4th quarter. Barclays PLC now owns 172,281 shares of the company's stock valued at $560,000 after acquiring an additional 5,057 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Maravai LifeSciences by 12.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 46,528 shares of the company's stock worth $112,000 after acquiring an additional 5,160 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Maravai LifeSciences by 2.7% during the 1st quarter. Bank of New York Mellon Corp now owns 343,643 shares of the company's stock worth $973,000 after acquiring an additional 8,955 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Maravai LifeSciences by 121.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 18,021 shares of the company's stock worth $43,000 after acquiring an additional 9,870 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 NASDAQ: MRVI is a life sciences company specializing in the development and supply of critical reagents and services for the development and manufacture of biologic therapies. The company's offerings support a range of applications in genomics, molecular diagnostics, vaccine development and next-generation sequencing. Maravai's platforms address key challenges in nucleic acid production, protein detection, epigenetic analysis and reagent quality across the biopharmaceutical industry.

Through its product portfolio, which includes proprietary mRNA capping reagents, lipid nanoparticle delivery systems, synthetic oligonucleotides and high-precision assay kits, Maravai enables customers to accelerate research and streamline manufacturing workflows.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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