Maravai LifeSciences (NASDAQ:MRVI) Sees Strong Trading Volume

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) shares saw an uptick in trading volume on Friday . 10,292,423 shares changed hands during trading, an increase of 328% from the previous session’s volume of 2,404,385 shares.The stock last traded at $9.51 and had previously closed at $7.97.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MRVI. Morgan Stanley cut shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $11.00 to $10.00 in a report on Tuesday. Robert W. Baird upped their price target on Maravai LifeSciences from $8.00 to $10.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Royal Bank of Canada restated an “outperform” rating and set a $15.00 price objective on shares of Maravai LifeSciences in a research report on Friday. The Goldman Sachs Group upped their target price on Maravai LifeSciences from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Finally, UBS Group raised their price target on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Maravai LifeSciences has a consensus rating of “Moderate Buy” and a consensus target price of $10.88.

Maravai LifeSciences Stock Up 21.5 %

The business has a 50-day simple moving average of $8.12 and a 200-day simple moving average of $8.05. The stock has a market cap of $2.44 billion, a P/E ratio of -9.62 and a beta of 0.02. The company has a quick ratio of 10.47, a current ratio of 11.32 and a debt-to-equity ratio of 0.71.

Maravai LifeSciences (NASDAQ:MRVI) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter. The company had revenue of $73.40 million during the quarter, compared to analyst estimates of $71.64 million. Maravai LifeSciences had a negative return on equity of 4.28% and a negative net margin of 47.81%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.06) earnings per share. Analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.15 EPS for the current year.

Insider Buying and Selling at Maravai LifeSciences

In related news, Director Gtcr Investment Xi Llc sold 9,940,974 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $9.81, for a total value of $97,520,954.94. Following the completion of the transaction, the director now directly owns 20,150,005 shares of the company’s stock, valued at $197,671,549.05. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MRVI. GAMMA Investing LLC grew its holdings in shares of Maravai LifeSciences by 310.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock worth $26,000 after purchasing an additional 2,711 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Maravai LifeSciences during the second quarter worth about $32,000. Gladius Capital Management LP acquired a new stake in shares of Maravai LifeSciences during the fourth quarter worth approximately $30,000. Headlands Technologies LLC bought a new position in shares of Maravai LifeSciences in the first quarter valued at approximately $42,000. Finally, Performa Ltd US LLC boosted 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 worth $39,000 after acquiring an additional 3,175 shares in the last quarter. 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.