Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Get Rating) was the recipient of a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 3,920,000 shares, a drop of 18.2% from the May 15th total of 4,790,000 shares. Approximately 3.6% of the company’s stock are short sold. Based on an average daily volume of 1,600,000 shares, the days-to-cover ratio is currently 2.5 days.
Several analysts have issued reports on MRVI shares. Morgan Stanley dropped their price target on Maravai LifeSciences from $59.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, February 25th. Robert W. Baird decreased their price objective on Maravai LifeSciences from $48.00 to $40.00 in a report on Friday, May 6th.
A number of institutional investors have recently bought and sold shares of MRVI. Zions Bancorporation N.A. bought a new stake in shares of Maravai LifeSciences during the first quarter worth approximately $28,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Maravai LifeSciences during the first quarter worth approximately $38,000. Arcadia Investment Management Corp MI bought a new stake in shares of Maravai LifeSciences during the fourth quarter worth approximately $41,000. Spire Wealth Management bought a new stake in shares of Maravai LifeSciences during the fourth quarter worth approximately $71,000. Finally, American International Group Inc. boosted its holdings in shares of Maravai LifeSciences by 25.0% during the third quarter. American International Group Inc. now owns 1,994 shares of the company’s stock worth $98,000 after acquiring an additional 399 shares during the period. Institutional investors and hedge funds own 50.18% of the company’s stock.
Shares of NASDAQ MRVI traded up $0.54 during mid-day trading on Friday, hitting $26.82. The company had a trading volume of 48,060 shares, compared to its average volume of 1,080,871. The company has a market capitalization of $6.84 billion, a PE ratio of 16.53 and a beta of 0.76. The firm has a 50-day simple moving average of $32.21 and a two-hundred day simple moving average of $34.50. The company has a current ratio of 7.14, a quick ratio of 6.55 and a debt-to-equity ratio of 0.80. Maravai LifeSciences has a one year low of $23.16 and a one year high of $63.55.
Maravai LifeSciences (NASDAQ:MRVI – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.11. Maravai LifeSciences had a return on equity of 96.51% and a net margin of 25.25%. The business had revenue of $244.30 million during the quarter, compared to analysts’ expectations of $232.29 million. During the same quarter last year, the company posted $0.26 earnings per share. Maravai LifeSciences’s quarterly revenue was up 64.8% on a year-over-year basis. Sell-side analysts expect that Maravai LifeSciences will post 1.85 earnings per share for the current fiscal year.
Maravai LifeSciences Company Profile (Get Rating)
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 in the United States and internationally. 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.
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Source: defenseworld.net
