Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $5.27 and last traded at $5.2650, with a volume of 400214 shares. The stock had previously closed at $5.10.
Analyst Ratings Changes
A number of brokerages recently weighed in on MRVI. Wells Fargo & Company raised their price target on shares of Maravai LifeSciences from $4.50 to $5.50 and gave the company an “overweight” rating in a report on Friday, May 8th. Wall Street Zen raised Maravai LifeSciences from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. UBS Group reissued a “reduce” rating on shares of Maravai LifeSciences in a research note on Wednesday, June 3rd. Weiss Ratings upgraded Maravai LifeSciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $6.00 price target on shares of Maravai LifeSciences in a report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $5.50.
Get Our Latest Research Report on Maravai LifeSciences
Maravai LifeSciences Trading Up 1.5%
Maravai LifeSciences (NASDAQ:MRVI – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.06. Maravai LifeSciences had a negative return on equity of 17.87% and a negative net margin of 51.07%.The company had revenue of $65.84 million for the quarter, compared to analyst estimates of $53.00 million. On average, sell-side analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.2 earnings per share for the current year.
Institutional Investors Weigh In On Maravai LifeSciences
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Monaco Asset Management SAM raised its position in Maravai LifeSciences by 315.0% during the third quarter. Monaco Asset Management SAM now owns 3,656,337 shares of the company’s stock worth $10,494,000 after acquiring an additional 2,775,372 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Maravai LifeSciences in the 4th quarter valued at about $7,670,000. General American Investors Co. Inc. increased its stake in shares of Maravai LifeSciences by 1,062.2% during the 4th quarter. General American Investors Co. Inc. now owns 1,585,316 shares of the company’s stock worth $5,152,000 after purchasing an additional 1,448,907 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Maravai LifeSciences by 308.7% in the 4th quarter. Millennium Management LLC now owns 1,797,052 shares of the company’s stock valued at $5,840,000 after purchasing an additional 1,357,349 shares during the period. Finally, First Eagle Investment Management LLC raised its holdings in shares of Maravai LifeSciences by 299.0% in the 4th quarter. First Eagle Investment Management LLC now owns 1,799,336 shares of the company’s stock valued at $5,848,000 after purchasing an additional 1,348,405 shares during the period. 50.25% of the stock is currently owned by institutional investors and hedge funds.
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.
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