Maravai LifeSciences (NASDAQ:MRVI) Trading Up 9.5% – Here’s What Happened

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s share price was up 9.5% on Tuesday . The company traded as high as $5.19 and last traded at $5.23. Approximately 1,393,068 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 2,088,515 shares. The stock had previously closed at $4.77.

Analyst Ratings Changes

MRVI has been the topic of several recent research reports. Guggenheim started coverage on shares of Maravai LifeSciences in a research note on Thursday, December 19th. They issued a “neutral” rating on the stock. Wolfe Research started coverage on Maravai LifeSciences in a research report on Thursday, November 14th. They set a “peer perform” rating for the company. William Blair reaffirmed a “market perform” rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. Robert W. Baird cut their price objective on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, Royal Bank of Canada lowered their target price on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $10.28.

Maravai LifeSciences Stock Up 5.8 %

The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89. The stock has a fifty day moving average price of $5.36 and a two-hundred day moving average price of $7.27. The company has a market cap of $1.42 billion, a price-to-earnings ratio of -3.43 and a beta of -0.07.

Maravai LifeSciences (NASDAQ:MRVI) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.09) earnings per share (EPS) for the quarter. Maravai LifeSciences had a negative net margin of 81.13% and a negative return on equity of 6.61%. The business had revenue of $65.20 million during the quarter, compared to the consensus estimate of $67.58 million. During the same period in the prior year, the firm earned ($0.02) EPS. As a group, sell-side analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.24 EPS for the current year.

Insider Buying and Selling at Maravai LifeSciences

In other news, insider Carl Hull bought 175,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were purchased at an average cost of $5.64 per share, with a total value of $987,000.00. Following the acquisition, the insider now directly owns 175,000 shares in the company, valued at $987,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.63% of the company’s stock.

Institutional Trading of Maravai LifeSciences

Several large investors have recently made changes to their positions in MRVI. Millennium Management LLC lifted its stake in Maravai LifeSciences by 12.3% during the second quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock worth $42,735,000 after purchasing an additional 653,639 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Maravai LifeSciences by 16.8% during the 2nd quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock worth $41,962,000 after buying an additional 844,325 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Maravai LifeSciences by 1,172.4% in the third quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company’s stock valued at $33,658,000 after buying an additional 3,731,924 shares in the last quarter. Point72 Asset Management L.P. raised its stake in Maravai LifeSciences by 149.6% during the second quarter. Point72 Asset Management L.P. now owns 3,519,561 shares of the company’s stock worth $25,200,000 after acquiring an additional 2,109,199 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Maravai LifeSciences by 6.3% in the third quarter. Geode Capital Management LLC now owns 2,752,077 shares of the company’s stock worth $22,874,000 after acquiring an additional 162,601 shares during the last quarter. Institutional investors and hedge funds own 50.25% of the company’s stock.

About Maravai LifeSciences

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.