Maravai LifeSciences (NASDAQ:MRVI) Trading Up 7% - Still a Buy?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) shot up 7% during trading on Wednesday . The company traded as high as $7.68 and last traded at $7.61. 322,296 shares were traded during mid-day trading, a decline of 85% from the average session volume of 2,217,646 shares. The stock had previously closed at $7.11.

Wall Street Analyst Weigh In

MRVI has been the topic of a number of analyst reports. UBS Group lifted their price objective 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. Morgan Stanley cut shares of Maravai LifeSciences from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $11.00 to $10.00 in a report on Tuesday, August 13th. Royal Bank of Canada reiterated an "outperform" rating and issued a $15.00 price objective on shares of Maravai LifeSciences in a research note on Friday, August 16th. Wells Fargo & Company initiated coverage on Maravai LifeSciences in a research note on Tuesday, August 27th. They issued an "overweight" rating and a $10.00 target price on the stock. Finally, The Goldman Sachs Group reduced their target price on Maravai LifeSciences from $8.00 to $7.00 and set a "neutral" rating for the company in a report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Maravai LifeSciences currently has an average rating of "Moderate Buy" and an average target price of $10.67.

Maravai LifeSciences Price Performance

The firm's 50 day moving average price is $8.33 and its two-hundred day moving average price is $8.52. The company has a debt-to-equity ratio of 0.71, a current ratio of 10.00 and a quick ratio of 9.28. The stock has a market cap of $1.92 billion and a PE ratio of -7.71.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter. Maravai LifeSciences had a negative net margin of 47.41% and a negative return on equity of 4.78%. The business had revenue of $73.40 million for the quarter, compared to the consensus estimate of $71.64 million. During the same period in the previous year, the firm earned ($0.06) EPS. The company's revenue was up 6.5% compared to the same quarter last year. On average, research analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Maravai LifeSciences

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in Maravai LifeSciences by 310.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,585 shares of the company's stock worth $26,000 after acquiring an additional 2,711 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Maravai LifeSciences in the second quarter worth $32,000. Headlands Technologies LLC purchased a new stake in shares of Maravai LifeSciences in the first quarter worth $42,000. Blue Trust Inc. purchased a new position in Maravai LifeSciences during the second quarter worth about $44,000. Finally, Custom Index Systems LLC purchased a new position in Maravai LifeSciences during the third quarter worth about $97,000. 50.25% of the stock is owned by hedge funds and other institutional investors.

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.