Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Get Free Report) crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $7.38 and traded as high as $7.60. Maravai LifeSciences shares last traded at $7.58, with a volume of 1,285,128 shares traded.
Analyst Upgrades and Downgrades
MRVI has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Maravai LifeSciences in a report on Wednesday, August 26th. Wall Street Zen downgraded Maravai LifeSciences from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. UBS Group raised their price target on shares of Maravai LifeSciences from $2.50 to $8.00 and gave the company a “neutral” rating in a research note on Wednesday, September 9th. Wells Fargo & Company boosted their target price on shares of Maravai LifeSciences from $5.50 to $6.50 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Finally, TD Cowen initiated coverage on shares of Maravai LifeSciences in a report on Monday, October 5th. They set a “buy” rating and a $9.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Maravai LifeSciences presently has an average rating of “Moderate Buy” and an average target price of $7.38.
Read Our Latest Stock Analysis on MRVI
Maravai LifeSciences Stock Up 3.6%
The stock has a 50 day moving average price of $7.38 and a 200 day moving average price of $5.15. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of -14.58 and a beta of 0.54. The company has a quick ratio of 2.98, a current ratio of 4.05 and a debt-to-equity ratio of 0.49.
Maravai LifeSciences (NASDAQ:MRVI – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. The company had revenue of $51.44 million for the quarter, compared to analysts’ expectations of $48.67 million. Maravai LifeSciences had a negative return on equity of 15.70% and a negative net margin of 37.07%. As a group, analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.18 EPS for the current year.
Hedge Funds Weigh In On Maravai LifeSciences
Several institutional investors and hedge funds have recently added to or reduced their stakes in MRVI. State of Alaska Department of Revenue bought a new stake in shares of Maravai LifeSciences in the third quarter worth $47,000. WINTON GROUP Ltd acquired a new stake in Maravai LifeSciences in the second quarter valued at $604,000. Engineers Gate Manager LP acquired a new stake in Maravai LifeSciences in the second quarter valued at $487,000. NewEdge Advisors LLC bought a new position in Maravai LifeSciences during the 2nd quarter worth $207,000. Finally, Squarepoint Ops LLC bought a new position in Maravai LifeSciences during the 2nd quarter worth $128,000. 50.25% of the stock is currently owned by institutional investors and hedge funds.
About Maravai LifeSciences
Maravai LifeSciences Holdings, Inc is a life sciences company that provides products and services used in the development, manufacture and quality testing of biopharmaceuticals, vaccines and diagnostic products. The company serves pharmaceutical, biotechnology, academic and other research organizations involved in nucleic acid and biologics development.
Through its TriLink BioTechnologies business, Maravai supplies specialized nucleic acid products and services, including modified nucleotides, messenger RNA-related materials, enzymes and other components used in research and biomanufacturing.
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