Maravai LifeSciences (NASDAQ:MRVI) Hits New 1-Year High – Time to Buy?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $5.27 and last traded at $5.2650, with a volume of 400214 shares traded. The stock had previously closed at $5.10.

Analyst Ratings Changes

Several research firms have recently commented on MRVI. Weiss Ratings raised shares of Maravai LifeSciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 29th. UBS Group restated a “reduce” rating on shares of Maravai LifeSciences in a research report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $6.00 target price on shares of Maravai LifeSciences in a report on Friday, May 8th. Wall Street Zen upgraded shares of Maravai LifeSciences from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Finally, Wells Fargo & Company lifted their price target on shares of Maravai LifeSciences from $4.50 to $5.50 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $5.50.

Maravai LifeSciences Price Performance

The firm has a 50 day moving average price of $4.02 and a 200 day moving average price of $3.64. The company has a quick ratio of 4.96, a current ratio of 5.91 and a debt-to-equity ratio of 0.72. The stock has a market cap of $1.35 billion, a P/E ratio of -7.34 and a beta of 0.72.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.06. The company had revenue of $65.84 million during the quarter, compared to the consensus estimate of $53.00 million. Maravai LifeSciences had a negative return on equity of 17.87% and a negative net margin of 51.07%. On average, analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.2 EPS for the current fiscal 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 on 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 sale, the general counsel directly owned 360,767 shares of the company’s stock, valued at $1,825,481.02. This represents a 6.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.49% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. raised its holdings in Maravai LifeSciences by 2.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,336,680 shares of the company’s stock valued at $20,595,000 after acquiring an additional 178,445 shares during the period. Mackenzie Financial Corp grew its position in shares of Maravai LifeSciences by 1.7% during the fourth quarter. Mackenzie Financial Corp now owns 6,173,656 shares of the company’s stock worth $20,148,000 after purchasing an additional 104,355 shares in the last quarter. Renaissance Technologies LLC raised its stake in Maravai LifeSciences by 0.9% during the 1st 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. Monaco Asset Management SAM raised its stake in Maravai LifeSciences by 315.0% during the 3rd quarter. Monaco Asset Management SAM now owns 3,656,337 shares of the company’s stock valued at $10,494,000 after purchasing an additional 2,775,372 shares during the period. Finally, Tejara Capital Ltd lifted its holdings in Maravai LifeSciences by 23.1% in the 4th quarter. Tejara Capital Ltd now owns 3,020,209 shares of the company’s stock worth $9,816,000 after purchasing an additional 566,768 shares in the last quarter. 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.