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

Maravai LifeSciences (NASDAQ:MRVIGet Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided EPS guidance of $1.74-$1.90 for the period, compared to the consensus EPS 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.

NASDAQ:MRVI traded down $1.26 during trading hours on Wednesday, hitting $31.07. 19,605 shares of the stock were exchanged, compared to its average volume of 1,925,697. The company’s 50 day moving average is $34.82 and its two-hundred day moving average is $35.60. Maravai LifeSciences has a twelve month low of $23.16 and a twelve month high of $63.55. The company has a quick ratio of 6.55, a current ratio of 7.14 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $7.93 billion, a P/E ratio of 20.33 and a beta of 0.76.

Maravai LifeSciences (NASDAQ:MRVIGet Rating) last posted its quarterly 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 company had revenue of $244.30 million for the quarter, compared to the consensus estimate of $232.29 million. Maravai LifeSciences had a return on equity of 96.51% and a net margin of 25.25%. The firm’s quarterly revenue was up 64.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.26 EPS. On average, equities research analysts expect that Maravai LifeSciences will post 1.83 EPS for the current year.

MRVI has been the topic of several research analyst reports. Robert W. Baird dropped their price objective on Maravai LifeSciences from $48.00 to $40.00 in a research note on Friday, May 6th. Zacks Investment Research downgraded Maravai LifeSciences from a buy rating to a hold rating in a research note on Wednesday, May 11th. Finally, Morgan Stanley lowered their target price on Maravai LifeSciences from $59.00 to $54.00 and set an overweight rating for the company in a report on Friday, February 25th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Buy and an average price target of $48.40.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Walleye Capital LLC bought a new position in shares of Maravai LifeSciences in the 1st quarter valued at about $858,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Maravai LifeSciences in the 1st quarter valued at about $808,000. Dimensional Fund Advisors LP grew its holdings in shares of Maravai LifeSciences by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 18,461 shares of the company’s stock valued at $774,000 after acquiring an additional 771 shares in the last quarter. Bank of Montreal Can lifted its stake in Maravai LifeSciences by 13.6% in the 1st quarter. Bank of Montreal Can now owns 16,563 shares of the company’s stock valued at $591,000 after purchasing an additional 1,986 shares during the last quarter. Finally, Weiss Multi Strategy Advisers LLC acquired a new stake in Maravai LifeSciences in the 1st quarter valued at about $379,000. Institutional investors own 50.18% of the company’s stock.

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

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