Maravai LifeSciences (NASDAQ:MRVI) Trading Up 8.1%

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) were up 8.1% on Tuesday . The stock traded as high as $8.10 and last traded at $7.97. Approximately 235,527 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 2,563,466 shares. The stock had previously closed at $7.37.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MRVI shares. Royal Bank of Canada upped their price objective on shares of Maravai LifeSciences from $12.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Craig Hallum started coverage on shares of Maravai LifeSciences in a report on Wednesday, April 10th. They issued a “buy” rating and a $15.00 price objective for the company. Finally, Stifel Nicolaus reduced their price objective on shares of Maravai LifeSciences from $11.00 to $10.00 and set a “buy” rating for the company in a report on Friday, February 23rd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.56.

Maravai LifeSciences Trading Down 0.6 %

The firm’s 50-day simple moving average is $7.69 and its 200 day simple moving average is $6.69. The company has a debt-to-equity ratio of 0.70, a current ratio of 8.00 and a quick ratio of 7.41.

Maravai LifeSciences (NASDAQ:MRVI) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The company had revenue of $74.14 million for 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, analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.15 earnings per share for the current year.

Institutional Trading of Maravai LifeSciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Signaturefd LLC raised its holdings in Maravai LifeSciences by 99.9% during the 3rd quarter. Signaturefd LLC now owns 3,364 shares of the company’s stock worth $34,000 after buying an additional 1,681 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in shares of Maravai LifeSciences by 96.1% in the 3rd 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 acquired a new position in shares of Maravai LifeSciences in the 4th quarter valued at about $30,000. Performa Ltd US LLC increased its holdings in shares of Maravai LifeSciences by 112.4% in the 4th quarter. Performa Ltd US LLC now owns 6,000 shares of the company’s stock valued at $39,000 after purchasing an additional 3,175 shares during the period. Finally, Pinnacle Associates Ltd. acquired a new position in shares of Maravai LifeSciences in the 4th quarter valued at about $69,000. Institutional investors and hedge funds own 50.25% of the company’s stock.

Maravai LifeSciences Company Profile

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.