Maravai LifeSciences (NASDAQ:MRVI) Updates FY 2022 Earnings Guidance

Maravai LifeSciences (NASDAQ:MRVIGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share guidance of $1.74-$1.90 for the period, compared to the consensus earnings per share estimate of $1.77. The company issued revenue guidance of $920.00 million-$960.00 million, compared to the consensus revenue estimate of $942.13 million.

Several analysts have commented on the stock. Robert W. Baird lowered their price objective on shares of Maravai LifeSciences from $48.00 to $40.00 in a report on Friday, May 6th. Morgan Stanley decreased their price objective on shares of Maravai LifeSciences from $59.00 to $54.00 and set an overweight rating for the company in a report on Friday, February 25th. Finally, Zacks Investment Research downgraded shares of Maravai LifeSciences from a buy rating to a hold rating in a research report on Wednesday, May 11th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Maravai LifeSciences has a consensus rating of Buy and a consensus target price of $48.40.

NASDAQ MRVI traded down $0.40 during trading on Monday, hitting $33.14. 3,099 shares of the stock traded hands, compared to its average volume of 2,138,428. The company has a market capitalization of $8.46 billion, a P/E ratio of 21.09 and a beta of 0.76. The company has a quick ratio of 7.34, a current ratio of 7.14 and a debt-to-equity ratio of 0.80. The firm has a 50-day simple moving average of $34.98 and a 200-day simple moving average of $35.70. Maravai LifeSciences has a 12-month low of $23.16 and a 12-month high of $63.55.

Maravai LifeSciences (NASDAQ:MRVIGet Rating) last issued its earnings results on Thursday, May 5th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.10. The business had revenue of $244.30 million during the quarter, compared to analyst estimates of $232.29 million. Maravai LifeSciences had a return on equity of 96.51% and a net margin of 25.25%. Maravai LifeSciences’s revenue was up 64.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 EPS. As a group, research analysts predict that Maravai LifeSciences will post 1.83 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MRVI. Zions Bancorporation N.A. acquired a new position in Maravai LifeSciences during the 1st quarter valued at about $28,000. American International Group Inc. increased 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 valued at $98,000 after acquiring an additional 399 shares in the last quarter. MetLife Investment Management LLC purchased a new position in shares of Maravai LifeSciences in the 1st quarter valued at approximately $250,000. Two Sigma Advisers LP acquired a new stake in Maravai LifeSciences in the 3rd quarter worth approximately $275,000. Finally, Metropolitan Life Insurance Co NY boosted its stake in Maravai LifeSciences by 7.2% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 7,300 shares of the company’s stock worth $306,000 after purchasing an additional 490 shares in the last quarter. 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.

See Also

Earnings History and Estimates for Maravai LifeSciences (NASDAQ:MRVI)

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