Maravai LifeSciences (NASDAQ:MRVI) Trading Up 6% Following Analyst Upgrade

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price shot up 6% during mid-day trading on Thursday after Robert W. Baird raised their price target on the stock from $8.00 to $10.00. Robert W. Baird currently has an outperform rating on the stock. Maravai LifeSciences traded as high as $9.53 and last traded at $9.40. 457,966 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 2,458,451 shares. The stock had previously closed at $8.87.

MRVI has been the topic of a number of other research reports. Craig Hallum initiated coverage on shares of Maravai LifeSciences in a research note on Wednesday, April 10th. They issued a “buy” rating and a $15.00 target price on the stock. Royal Bank of Canada upped their price objective on Maravai LifeSciences from $12.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Finally, Stifel Nicolaus decreased their target price on Maravai LifeSciences from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.44.

Hedge Funds Weigh In On Maravai LifeSciences

Several hedge funds and other institutional investors have recently modified their holdings of MRVI. Signaturefd LLC increased its holdings in shares of Maravai LifeSciences by 99.9% in the 3rd quarter. Signaturefd LLC now owns 3,364 shares of the company’s stock worth $34,000 after acquiring an additional 1,681 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Maravai LifeSciences by 96.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 3,391 shares of the company’s stock valued at $34,000 after purchasing an additional 1,662 shares during the period. Gladius Capital Management LP bought a new stake in shares of Maravai LifeSciences during the fourth quarter valued at approximately $30,000. Headlands Technologies LLC acquired a new position in shares of Maravai LifeSciences during the first quarter worth approximately $42,000. Finally, Performa Ltd US LLC grew its holdings in Maravai LifeSciences by 112.4% in the 4th quarter. Performa Ltd US LLC now owns 6,000 shares of the company’s stock worth $39,000 after buying an additional 3,175 shares in the last quarter. Institutional investors and hedge funds own 50.25% of the company’s stock.

Maravai LifeSciences Trading Up 5.4 %

The firm has a 50-day moving average of $8.09 and a 200 day moving average of $6.73. The company has a current ratio of 8.00, a quick ratio of 7.41 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of -9.86 and a beta of 0.03.

Maravai LifeSciences (NASDAQ:MRVI) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The company had revenue of $74.14 million during the quarter, compared to analyst estimates of $62.99 million. Maravai LifeSciences had a negative return on equity of 1.31% and a negative net margin of 41.19%. As a group, equities analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.15 EPS for the current fiscal year.

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.