Maravai Lifesciences Holdings In Up 48.14% To $7.35 After Earnings Beat

Friday, February 23, 2024 - Maravai Lifesciences Holdings In (MRVI) reported upside earnings and revenues today.

Maravai Lifesciences Holdings In's earnings came in at an EPS of $0.01 per share, 200.00% higher than estimates for an EPS loss of $0.01 per share. The firm's earnings are down 97% since reporting $0.35 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were upbeat at $74.1 million. That represents a 63.78% decrease in revenues from the year-ago report and is 15.16% higher than consensus estimates set at $64.4 million.

The stock is up 48.14% to $7.35 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Maravai Lifesciences Holdings In a Bearish Sentiment Rank from InvestorsObserver.

Maravai Lifesciences Holdings In has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 10, putting Maravai Lifesciences Holdings In in the bottom 25% of stocks. The firm set a 52-week low on November 9, 2023 at $4.52 and set a 52-week high on February 23, 2023 at $16.9.

Maravai LifeSciences Holdings Inc is a life sciences company. It provides products to enable the development of drug therapies, diagnostics, novel vaccines and support research on human diseases. The company's segments are Nucleic acid production, Biologics safety testing, and Protein detection. It generates a majority of its revenue from the Nucleic Acid Production that focuses on the manufacturing and sale of nucleic acid products to support the needs of customers' research, therapeutic and vaccine programs. In addition, the segment also provides research products for labeling and detecting proteins in cells and tissue samples.