Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Short Interest Update

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVIGet Rating) was the recipient of a significant decline in short interest in May. As of May 31st, there was short interest totalling 3,920,000 shares, a decline of 18.2% from the May 15th total of 4,790,000 shares. Currently, 3.6% of the company’s stock are sold short. Based on an average daily volume of 1,600,000 shares, the days-to-cover ratio is presently 2.5 days.

MRVI has been the topic of a number of recent research reports. Robert W. Baird lowered their target price on Maravai LifeSciences from $48.00 to $40.00 in a research note on Friday, May 6th. Morgan Stanley lowered their target price 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.

Shares of MRVI traded up $0.54 during trading hours on Friday, hitting $26.82. 48,060 shares of the company were exchanged, compared to its average volume of 1,080,871. The company has a market cap of $6.84 billion, a PE ratio of 16.53 and a beta of 0.76. The firm’s 50 day moving average is $32.21 and its 200-day moving average is $34.50. Maravai LifeSciences has a 52 week low of $23.16 and a 52 week high of $63.55. The company has a debt-to-equity ratio of 0.80, a quick ratio of 6.55 and a current ratio of 7.14.

Maravai LifeSciences (NASDAQ:MRVIGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate 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 in the previous year, the firm earned $0.26 EPS. The firm’s revenue was up 64.8% compared to the same quarter last year. As a group, equities analysts forecast that Maravai LifeSciences will post 1.85 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. Verition Fund Management LLC acquired a new position in Maravai LifeSciences in the 1st quarter valued at approximately $925,000. Walleye Capital LLC acquired a new position in Maravai LifeSciences in the 1st quarter valued at approximately $858,000. Cantor Fitzgerald L. P. acquired a new position in Maravai LifeSciences in the 1st quarter valued at approximately $3,210,000. The Manufacturers Life Insurance Company acquired a new position in shares of Maravai LifeSciences in the 1st quarter worth approximately $1,975,000. Finally, Weiss Multi Strategy Advisers LLC acquired a new position in shares of Maravai LifeSciences in the 1st quarter worth approximately $379,000. 50.18% of the stock is owned by hedge funds and other institutional investors.

About Maravai LifeSciences (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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