Maravai LifeSciences (MRVI)
Market Price (8/19/2026): $5.745 | Market Cap: $850.2 MilSector: Health Care | Industry: Biotechnology
Maravai LifeSciences (MRVI)
Market Price (8/19/2026): $5.745Market Cap: $850.2 MilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Biotechnology & Genomics, and Precision Medicine. Themes include mRNA Technology, Gene Editing & Therapy, Show more. | Weak multi-year price returns2Y Excs Rtn is -74%, 3Y Excs Rtn is -117% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -71 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -34% Stock price has recently run up significantly12M Rtn12 month market price return is 123% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -5.0%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -25% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 14% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -12%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -17% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 101% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -14% Key risksMRVI key risks include [1] a sharp decline in demand for its core Nucleic Acid Production products, Show more. |
| Megatrend and thematic driversMegatrends include Biotechnology & Genomics, and Precision Medicine. Themes include mRNA Technology, Gene Editing & Therapy, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -74%, 3Y Excs Rtn is -117% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -71 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -34% |
| Stock price has recently run up significantly12M Rtn12 month market price return is 123% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -5.0%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -25% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 14% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -12%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -17% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 101% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -14% |
| Key risksMRVI key risks include [1] a sharp decline in demand for its core Nucleic Acid Production products, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Maravai LifeSciences (MRVI) stock has gained about 55% since 4/30/2026 because of the following key factors:
1. Strong Fiscal Q1 2026 Performance and Upgraded Outlook. Maravai LifeSciences reported robust results for fiscal Q1 2026 (ended March 31, 2026), with revenue increasing 41% year-over-year. This strong performance allowed the company to raise its full-year fiscal 2026 revenue guidance to a range of $205 million to $215 million and its Adjusted EBITDA guidance to between $30 million and $32 million. This positive financial momentum provided a significant catalyst for the stock's upward movement in the specified period.
2. Significant Fiscal Q2 2026 Earnings Beat and Operational Improvements. The company announced better-than-expected financial results for fiscal Q2 2026 (ended June 30, 2026) on August 6, 2026. Maravai reported revenue of $51.4 million, surpassing the consensus estimate of $48.67 million, and an adjusted EPS loss of $0.02, beating the estimated loss of $0.04. A key highlight was the adjusted gross margin expansion of over 1,600 basis points year-over-year to 58.9%, and Adjusted EBITDA turning positive at $8.7 million, representing a $19.1 million improvement from the prior year.
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Maravai LifeSciences (MRVI) stock has gained about 55% since 4/30/2026 because of the following key factors:
1. Strong Fiscal Q1 2026 Performance and Upgraded Outlook. Maravai LifeSciences reported robust results for fiscal Q1 2026 (ended March 31, 2026), with revenue increasing 41% year-over-year. This strong performance allowed the company to raise its full-year fiscal 2026 revenue guidance to a range of $205 million to $215 million and its Adjusted EBITDA guidance to between $30 million and $32 million. This positive financial momentum provided a significant catalyst for the stock's upward movement in the specified period.
2. Significant Fiscal Q2 2026 Earnings Beat and Operational Improvements. The company announced better-than-expected financial results for fiscal Q2 2026 (ended June 30, 2026) on August 6, 2026. Maravai reported revenue of $51.4 million, surpassing the consensus estimate of $48.67 million, and an adjusted EPS loss of $0.02, beating the estimated loss of $0.04. A key highlight was the adjusted gross margin expansion of over 1,600 basis points year-over-year to 58.9%, and Adjusted EBITDA turning positive at $8.7 million, representing a $19.1 million improvement from the prior year.
3. Enhanced Full-Year Profitability Projections. Following the strong Q2 performance, Maravai LifeSciences raised its full-year fiscal 2026 Adjusted EBITDA guidance to $33 million to $35 million, an increase from its earlier projection of $30 million to $32 million, while maintaining its revenue outlook. This revised guidance signaled increased confidence in the company's operational efficiency and a more favorable profitability trajectory, contributing to investor optimism.
4. Strategic Operational and Financial Strengthening. During the period, Maravai LifeSciences made several strategic moves that bolstered its market position. This included the opening of a new GMP enzyme manufacturing facility in June 2026, which expanded TriLink's integrated IVT supply capabilities. Additionally, the company refinanced its credit agreement in June 2026, reducing its outstanding borrowings to approximately $150 million and extending debt maturities to 2032, thereby strengthening its balance sheet and improving liquidity.
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Stock Movement Drivers
Fundamental Drivers
The 56.0% change in MRVI stock from 4/30/2026 to 8/18/2026 was primarily driven by a 41.6% change in the company's P/S Multiple.| (LTM values as of) | 4302026 | 8182026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.68 | 5.74 | 56.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 186 | 209 | 12.4% |
| P/S Multiple | 2.9 | 4.1 | 41.6% |
| Shares Outstanding (Mil) | 145 | 148 | -2.0% |
| Cumulative Contribution | 56.0% |
Market Drivers
4/30/2026 to 8/18/2026| Return | Correlation | |
|---|---|---|
| MRVI | 56.0% | |
| Market (SPY) | 6.8% | 11.8% |
| Sector (XLV) | 16.3% | 3.8% |
Fundamental Drivers
The 70.8% change in MRVI stock from 1/31/2026 to 8/18/2026 was primarily driven by a 61.1% change in the company's P/S Multiple.| (LTM values as of) | 1312026 | 8182026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.36 | 5.74 | 70.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 192 | 209 | 8.5% |
| P/S Multiple | 2.5 | 4.1 | 61.1% |
| Shares Outstanding (Mil) | 145 | 148 | -2.2% |
| Cumulative Contribution | 70.8% |
Market Drivers
1/31/2026 to 8/18/2026| Return | Correlation | |
|---|---|---|
| MRVI | 70.8% | |
| Market (SPY) | 11.2% | 29.9% |
| Sector (XLV) | 10.1% | 15.9% |
Fundamental Drivers
The 145.3% change in MRVI stock from 7/31/2025 to 8/18/2026 was primarily driven by a 193.2% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 8182026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.34 | 5.74 | 145.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 242 | 209 | -13.7% |
| P/S Multiple | 1.4 | 4.1 | 193.2% |
| Shares Outstanding (Mil) | 143 | 148 | -3.1% |
| Cumulative Contribution | 145.3% |
Market Drivers
7/31/2025 to 8/18/2026| Return | Correlation | |
|---|---|---|
| MRVI | 145.3% | |
| Market (SPY) | 22.4% | 27.7% |
| Sector (XLV) | 31.8% | 24.8% |
Fundamental Drivers
The -49.2% change in MRVI stock from 7/31/2023 to 8/18/2026 was primarily driven by a -70.9% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 7312023 | 8182026 | Change |
|---|---|---|---|
| Stock Price ($) | 11.31 | 5.74 | -49.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 718 | 209 | -70.9% |
| P/S Multiple | 2.1 | 4.1 | 96.0% |
| Shares Outstanding (Mil) | 132 | 148 | -11.0% |
| Cumulative Contribution | -49.2% |
Market Drivers
7/31/2023 to 8/18/2026| Return | Correlation | |
|---|---|---|
| MRVI | -49.2% | |
| Market (SPY) | 73.6% | 21.2% |
| Sector (XLV) | 32.5% | 23.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MRVI Return | 49% | -66% | -54% | -17% | -40% | 75% | -80% |
| Peers Return | 37% | -25% | -1% | -8% | 7% | 7% | 8% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| MRVI Win Rate | 58% | 25% | 25% | 33% | 50% | 75% | |
| Peers Win Rate | 72% | 37% | 47% | 43% | 53% | 57% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| MRVI Max Drawdown | -42% | -70% | -71% | -61% | -72% | -30% | |
| Peers Max Drawdown | -19% | -36% | -32% | -26% | -34% | -36% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: TMO, DHR, CRL, RGEN, QGEN.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/18/2026 (YTD)
How Low Can It Go
| Event | MRVI | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -57.8% | -18.8% |
| % Gain to Breakeven | 137.2% | 23.1% |
| Time to Breakeven | 387 days | 79 days |
In The Past
Maravai LifeSciences's stock fell -57.8% during the 2025 US Tariff Shock. Such a loss loss requires a 137.2% gain to breakeven.
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Asset Allocation
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| Event | MRVI | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -57.8% | -18.8% |
| % Gain to Breakeven | 137.2% | 23.1% |
| Time to Breakeven | 387 days | 79 days |
In The Past
Maravai LifeSciences's stock fell -57.8% during the 2025 US Tariff Shock. Such a loss loss requires a 137.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Maravai LifeSciences (MRVI)
Maravai LifeSciences (MRVI) is a life sciences company that provides essential products and services supporting the development of drug therapies, diagnostics, novel vaccines, and research into human diseases. The company operates through two primary segments: Nucleic Acid Production and Biologics Safety Testing, each playing a critical role in the biopharmaceutical development lifecycle.
The Nucleic Acid Production segment manufactures advanced nucleic acids, including messenger RNA (mRNA), oligonucleotides, and plasmid DNA. This segment also provides reagents and proprietary CleanCap capping technology, which are crucial for gene therapy, molecular diagnostics, and therapeutic applications. The Biologics Safety Testing segment offers analytical products and custom services designed to ensure the safety and quality of biologic manufacturing processes. This includes HCP ELISA kits, other impurity detection kits, and specialized antibody and assay development services.
Maravai serves a diverse range of customers within the life sciences sector. Its primary clients include biopharmaceutical companies, other life sciences research companies, academic research institutions, and in vitro diagnostics companies. These customers rely on Maravai's specialized products and testing solutions to advance their research, develop new treatments, and ensure the safety and efficacy of their biopharmaceutical products globally.
AI Analysis | Feedback
Here are 1-3 brief analogies to describe Maravai LifeSciences (MRVI):
It's like the "Intel Inside" for the biotech industry, providing the essential molecular building blocks and quality control for drug and vaccine development.
Imagine a highly specialized Thermo Fisher Scientific, focused exclusively on crucial genetic materials and safety testing for biopharmaceutical companies.
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- Nucleic Acid Products: These include messenger RNA (mRNA), oligonucleotides, plasmid DNA, and reagents for the synthesis, modification, and purification of DNA and RNA.
- CleanCap Capping Technology: A proprietary technology designed to enhance the production and function of messenger RNA.
- HCP ELISA Kits: Diagnostic kits utilized to detect host cell proteins (HCPs), which are common impurities encountered during biopharmaceutical manufacturing.
- Other Bioprocess Impurity & Contaminant ELISA Kits: A range of analytical kits used for identifying and quantifying various other impurities and contaminants in biologic manufacturing processes.
- Custom Antibody and Assay Development Services: Specialized services for developing tailor-made antibodies and assays to meet specific biopharmaceutical manufacturing and testing requirements.
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Maravai LifeSciences (MRVI) sells primarily to other companies and institutions. The company serves the following major customer categories:
- Biopharmaceutical companies
- Other biopharmaceutical and life sciences research companies
- Academic research institutions
- In vitro diagnostics companies
The provided company description does not name specific customer companies or their public symbols.
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Bernd Brust, Chief Executive Officer
Mr. Brust was appointed CEO and a Board Member of Maravai LifeSciences in June 2025. He brings more than 30 years of global leadership experience in life sciences and scientific instrumentation, with a focus on commercial operations, strategic growth, and innovation. Previously, Mr. Brust served as Executive Chairman and CEO of Antylia Scientific, a global provider of tools and solutions for diagnostic testing, sample preparation, biological monitoring, and environmental analysis.
Raj Asarpota, Executive Vice President and Chief Financial Officer
Mr. Asarpota was appointed Executive Vice President and Chief Financial Officer of Maravai LifeSciences in June 2025. He brings nearly 30 years of global executive leadership experience, including more than a decade as CFO of public and private life sciences and medical device companies. Mr. Asarpota has a strong track record of driving performance, advancing strategic initiatives, and scaling operations through organic growth and strategic acquisitions. He most recently served as EVP and CFO at Augmedics, where he scaled commercial operations, raised capital, and led a strategic intellectual property acquisition. His prior experience includes executive roles at NuVasive, Cole-Parmer, Questcor Pharmaceuticals, Life Technologies, and GE Healthcare. He has led over 20 global acquisitions and divestitures and created shareholder value across public and private equity-backed organizations.
Christine Dolan, Chief Operating Officer, Biologics Safety Testing
Ms. Dolan has served as the Chief Operating Officer of Maravai LifeSciences' Biologics Safety Testing business segment since October 2017. Before joining Maravai, she held several operational and business leadership roles, including Senior Vice President of Product Development, VP of Global Operations, and VPGM of Development and Analytical Services at Catalent Pharma Solutions. Prior to Catalent Pharma Solutions, Ms. Dolan was Director of Nuclear Operations and Global Quality Control at GE Healthcare and Amersham Health.
Kurt Oreshack, General Counsel
Mr. Oreshack serves as General Counsel for Maravai LifeSciences.
Chanfeng Zhao, PhD, Former Chief Executive Officer and Co-founder of MyChem LLC
Dr. Zhao brings over 20 years of experience in nucleotide and modified nucleotides used in sequencing and synthetic genomics fields. She was the Chief Executive Officer and Co-founder of MyChem LLC, which was acquired by Maravai LifeSciences.
AI Analysis | Feedback
Here are the key risks to Maravai LifeSciences (MRVI):
- Significant Decline in Revenue from COVID-19 Related Products: Maravai LifeSciences has experienced a substantial decrease in demand and revenue for its CleanCap technology, which was a major component of COVID-19 vaccine manufacturing. This revenue stream, which constituted 68% to 70% of total revenue in 2021 and 2022, is projected to be near zero in 2025. This decline has led to considerable year-over-year revenue decreases, including a 72% decrease in Nucleic Acid Production revenue for the year ended December 31, 2023, and significant net losses for the company.
- Weak Internal Controls over Financial Reporting and Accounting Issues: The company has admitted to lacking adequate internal controls over financial reporting, which resulted in inaccurate revenue recognition on certain transactions and an overstatement of goodwill during fiscal 2024. These issues have led to the postponement of earnings releases, warnings against relying on previously filed financial statements, and a securities class action lawsuit against Maravai.
- Challenges in Growing the Base Business Amidst a Shifting Market: While Maravai is strategically focusing on expanding its "base business" (excluding high-volume CleanCap sales), there are concerns about the pace and scale of this growth. The pharmaceutical sector's current spending environment, particularly a shift away from early-stage programs where Maravai predominantly operates, presents a challenge. Analysts anticipate it will take time for earlier-stage programs to progress through the pipeline and significantly impact the company's revenues, contributing to long-term growth concerns and fluctuating EBITDA margins.
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Maravai LifeSciences (MRVI) operates within significant addressable markets related to its Nucleic Acid Production and Biologics Safety Testing segments.
Nucleic Acid Production Segment
- Gene Therapy Market: The global gene therapy market was valued at approximately USD 8.57 billion in 2024 and is projected to reach USD 34.93 billion by 2032, growing at a CAGR of 19.25% from 2025 to 2032. Another source indicates the global gene therapy market size was USD 11.4 billion in 2025 and is projected to reach around USD 58.87 billion by 2034, expanding at a CAGR of 20% between 2025 and 2034. North America held a significant share of this market, estimated at 66% in 2025.
- Oligonucleotide Therapeutics Market: The global oligonucleotide therapeutics market was valued at approximately USD 7.19 billion in 2025 and is projected to reach USD 17.70 billion by 2030, with a CAGR of 19.7% from 2025 to 2030. Another estimate places the market at USD 19.8 billion in 2025, reaching USD 45.7 billion by 2032 at a CAGR of 12.7% from 2025 to 2032. North America held approximately 46.8% of the global market share in 2025.
- mRNA Therapeutics Market: The global mRNA therapeutics market was valued at USD 15.5 billion in 2024 and is expected to grow to USD 17.6 billion in 2025 and USD 58.9 billion by 2034, at a CAGR of 14.4% during the forecast period. North America was the largest market in 2024. Other estimates indicate a global market size of USD 20.83 billion in 2025, projected to reach approximately USD 45.4 billion by 2035, expanding at a CAGR of 8.1% from 2026 to 2035.
- Molecular Diagnostics Market: The global molecular diagnostics market size was estimated at USD 18.85 billion in 2025 and is projected to reach USD 25.59 billion by 2033, growing at a CAGR of 4.06% from 2026 to 2033. Another report states the market size as USD 18.36 billion in 2025, expected to reach USD 41.63 billion by 2032, exhibiting a CAGR of 12.4% from 2025 to 2032. North America held the largest share of the global market, accounting for 44.06% in 2025. The reagents segment, which Maravai supplies, held the largest market share of 65.53% in 2025.
Biologics Safety Testing Segment
- Biologics Safety Testing Market: The global biologics safety testing market was valued at approximately USD 5.90 billion in 2024. It is projected to grow from USD 6.40 billion in 2025 to USD 11.50 billion by 2032, exhibiting a CAGR of 8.73%. Another source estimates the market size at USD 4.58 billion in 2025, projected to reach around USD 14.45 billion by 2034, expanding at a CAGR of 13.64% between 2025 and 2034. North America dominated this market with a share of 37.97% in 2024. The kits & reagents segment, where Maravai offers products like HCP ELISA kits, dominated the global biologics safety testing market with a share of approximately 54% in 2024.
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Maravai LifeSciences (MRVI) anticipates several key drivers for its future revenue growth over the next two to three years, primarily stemming from its TriLink (Nucleic Acid Production) and Cygnus (Biologics Safety Testing) segments, coupled with strategic operational improvements and new product introductions.
- Growth in GMP Consumables and CDMO Services within the TriLink Segment: Maravai expects its TriLink segment to experience low double-digit growth, driven by double-digit growth in GMP (Good Manufacturing Practice) consumables and Contract Development and Manufacturing Organization (CDMO) services. This area demonstrated strong performance in Q4 2025 and is projected to continue its expansion.
- Increased Demand for Core Customer Protein Kits in the Cygnus Segment: The Cygnus segment, which focuses on biologics safety testing, is forecast to achieve low to mid-single-digit year-over-year growth. This growth is anticipated to be fueled by sustained demand for its core customer protein kits, including HCP ELISA kits, a trend observed in the fourth quarter of 2025.
- Successful Launch and Adoption of New Products: The company is leveraging new product introductions to drive revenue. Notably, the recently launched ModTail products showed strong early adoption in 2025 and have already surpassed previous bookings in 2026. Additionally, the upcoming launch of GMP enzymes has already secured over $1.2 million in orders for 2026, and new mRNA and IVT kits have been well-received by customers.
- Stabilization and Growth in the TriLink Segment's Discovery Business: After experiencing fluctuations, Maravai projects stabilization in its discovery business within the TriLink segment. This stabilization is an integral part of the overall low double-digit growth expected for TriLink, indicating a recovery in foundational research and development activities.
- Enhanced Direct Customer Engagement and Operational Excellence: Maravai is actively increasing its direct engagement with customers, particularly within TriLink, to position CleanCap and its broader portfolio of enzymes and oligos as preferred products. Coupled with a focus on operational excellence and a leaner cost base, these efforts are aimed at accelerating revenue growth and improving market penetration.
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Here is a summary of Maravai LifeSciences' capital allocation decisions over the last 3-5 years:
Share Issuance
- Maravai LifeSciences Holdings, Inc. had 144.72 million shares outstanding as of February 25, 2026.
- Shares outstanding were 144.7 million as of September 30, 2025, and 143.4 million as of March 31, 2025, indicating a modest increase over this period.
- The company had approximately 141.98 million shares in issue.
Capital Expenditures
- Capital expenditures for Maravai LifeSciences Holdings, Inc. amounted to approximately $17.38 million in the trailing twelve months leading up to February 25, 2026.
- In the fourth quarter of 2025, the company invested $2.1 million in capital expenditures.
- As part of broader restructuring efforts to achieve over $50 million in annualized expense reductions, Maravai LifeSciences has implemented capital expenditure cuts.
Peer Outperformance in Biotechnology
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Health Care Distributors | 7 | 9.7% | 79.7% | 140.2% | CAH 411% · MCK 348% · COR 179% |
| Health Care Services | 20 | 20.0% | 41.9% | 9.5% | HIMS 302% · RDNT 143% · DGX 72% |
| Managed Health Care | 8 | 33.2% | -3.6% | 1.3% | OSCR 142% · HQY 64% · ELV 14% |
| Health Care Facilities | 24 | 11.9% | -3.3% | -15.7% | THC 289% · NHC 263% · ENSG 132% |
| Health Care Equipment | 51 | -2.3% | -9.2% | -18.9% | POCI 10738% · UFPT 396% · GKOS 288% |
| Health Care Supplies | 12 | 38.3% | -12.4% | -27.5% | LNTH 314% · HAE 81% · MMSI 31% |
| Pharmaceuticals | 63 | 3.1% | -1.7% | -31.9% | LQDA 2959% · INDV 1388% · ETON 1385% |
| Life Sciences Tools & Services | 108 | -8.4% | -32.7% | -70.6% | SNWV 1953% · ELMD 259% · MEDP 235% |
| Health Care Technology | 20 | -28.4% | -53.8% | -73.9% | SPOK 37% · HSTM -2% · VEEV -24% |
| Biotechnology ← | 365 | 6.6% | -27.4% | -77.2% | BRTX 106400% · DNTH 1803% · CELZ 1443% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Maravai LifeSciences Earnings Notes | 12/16/2025 | |
| Is Maravai LifeSciences Stock Built to Withstand a Pullback? | 10/17/2025 |
| Title | |
|---|---|
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Peer Comparisons
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Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 199.58 |
| Mkt Cap | 13.4 |
| Rev LTM | 3,999 |
| Op Inc LTM | 466 |
| FCF LTM | 371 |
| FCF 3Y Avg | 479 |
| CFO LTM | 582 |
| CFO 3Y Avg | 706 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.6% |
| Rev Chg 3Y Avg | 2.2% |
| Rev Chg Q | 8.5% |
| QoQ Delta Rev Chg LTM | 2.0% |
| Op Inc Chg LTM | 36.2% |
| Op Inc Chg 3Y Avg | -3.3% |
| Op Mgn LTM | 11.7% |
| Op Mgn 3Y Avg | 11.3% |
| QoQ Delta Op Mgn LTM | 1.2% |
| CFO/Rev LTM | 17.2% |
| CFO/Rev 3Y Avg | 19.7% |
| FCF/Rev LTM | 14.0% |
| FCF/Rev 3Y Avg | 16.2% |
Price Behavior
| Market Price | $5.74 | |
| Market Cap ($ Bil) | 0.8 | |
| First Trading Date | 11/20/2020 | |
| Distance from 52W High | -20.7% | |
| 50 Days | 200 Days | |
| DMA Price | $6.01 | $4.18 |
| DMA Trend | up | up |
| Distance from DMA | -4.5% | 37.4% |
| 3M | 1YR | |
| Volatility | 44.3% | 61.3% |
| Downside Capture | -5.85 | 90.35 |
| Upside Capture | 131.54 | 164.01 |
| Correlation (SPY) | 6.1% | 28.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.01 | 0.18 | 0.66 | 1.34 | 1.58 | 1.14 |
| Up Beta | 1.00 | 0.21 | 1.04 | 1.15 | 2.17 | 0.58 |
| Down Beta | -0.42 | -0.02 | -0.11 | 1.22 | 1.32 | 1.23 |
| Up Capture | 189% | 136% | 243% | 267% | 306% | 156% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 11 | 26 | 36 | 67 | 126 | 351 |
| Down Capture | 105% | -85% | -60% | 83% | 95% | 110% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 10 | 16 | 25 | 53 | 113 | 379 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MRVI | |
|---|---|---|---|---|
| MRVI | 120.6% | 61.2% | 1.52 | - |
| Sector ETF (XLV) | 26.3% | 15.5% | 1.31 | 24.6% |
| Equity (SPY) | 20.4% | 12.8% | 1.17 | 27.8% |
| Gold (GLD) | 29.8% | 28.5% | 0.91 | 7.9% |
| Commodities (DBC) | 40.2% | 20.2% | 1.56 | -6.3% |
| Real Estate (VNQ) | 13.1% | 13.9% | 0.65 | 26.8% |
| Bitcoin (BTCUSD) | -45.4% | 42.7% | -1.30 | 18.0% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MRVI | |
|---|---|---|---|---|
| MRVI | -34.9% | 74.6% | -0.26 | - |
| Sector ETF (XLV) | 6.6% | 15.0% | 0.25 | 27.7% |
| Equity (SPY) | 13.1% | 17.2% | 0.59 | 25.2% |
| Gold (GLD) | 19.8% | 18.6% | 0.87 | 4.1% |
| Commodities (DBC) | 9.8% | 19.6% | 0.39 | -2.3% |
| Real Estate (VNQ) | 2.4% | 18.9% | 0.02 | 24.2% |
| Bitcoin (BTCUSD) | 7.1% | 52.6% | 0.32 | 11.8% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MRVI | |
|---|---|---|---|---|
| MRVI | -15.0% | 72.7% | -0.08 | - |
| Sector ETF (XLV) | 10.4% | 16.7% | 0.51 | 26.9% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 24.7% |
| Gold (GLD) | 12.1% | 16.2% | 0.61 | 4.1% |
| Commodities (DBC) | 7.8% | 18.1% | 0.35 | -2.4% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.20 | 23.2% |
| Bitcoin (BTCUSD) | 59.9% | 66.0% | 1.00 | 11.0% |
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Returns Analyses
Earnings Returns History
Updated 8/17/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | -0.3% | -7.5% | |
| 5/7/2026 | 23.1% | 8.9% | 27.9% |
| 2/25/2026 | 9.2% | 17.2% | -5.2% |
| 11/6/2025 | -0.7% | 12.5% | 27.7% |
| 8/11/2025 | 30.6% | 24.8% | 26.2% |
| 5/12/2025 | -2.8% | 2.4% | 7.5% |
| 3/18/2025 | -5.8% | -10.9% | -33.3% |
| 11/7/2024 | -35.3% | -33.7% | -30.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 16 | 12 |
| # Negative | 12 | 7 | 10 |
| Median Positive | 9.2% | 10.7% | 12.1% |
| Median Negative | -4.2% | -10.9% | -7.3% |
| Max Positive | 63.6% | 51.3% | 71.4% |
| Max Negative | -35.3% | -33.7% | -33.3% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | -0.3% | -7.5% | |
| 5/7/2026 | 23.1% | 8.9% | 27.9% |
| 2/25/2026 | 9.2% | 17.2% | -5.2% |
| 11/6/2025 | -0.7% | 12.5% | 27.7% |
| 8/11/2025 | 30.6% | 24.8% | 26.2% |
| 5/12/2025 | -2.8% | 2.4% | 7.5% |
| 3/18/2025 | -5.8% | -10.9% | -33.3% |
| 11/7/2024 | -35.3% | -33.7% | -30.7% |
| 8/7/2024 | -6.9% | -9.7% | -0.5% |
| 5/8/2024 | 11.2% | 26.3% | -2.9% |
| 2/22/2024 | 63.6% | 51.3% | 71.4% |
| 11/7/2023 | -31.7% | -24.9% | -24.7% |
| 8/7/2023 | 0.7% | -8.8% | -1.5% |
| 5/8/2023 | -13.0% | 7.9% | 0.6% |
| 2/22/2023 | 8.2% | 8.2% | -0.7% |
| 11/2/2022 | -5.5% | -12.3% | -9.4% |
| 8/4/2022 | 2.3% | 1.9% | -20.6% |
| 5/5/2022 | 13.4% | 13.1% | 12.0% |
| 2/23/2022 | -1.0% | 17.1% | 10.1% |
| 11/10/2021 | 3.5% | 6.7% | 12.1% |
| 8/10/2021 | -0.1% | 17.6% | 6.6% |
| 5/10/2021 | -1.3% | 7.2% | 17.3% |
| 3/2/2021 | 3.7% | 2.9% | 1.7% |
| SUMMARY STATS | |||
| # Positive | 11 | 16 | 12 |
| # Negative | 12 | 7 | 10 |
| Median Positive | 9.2% | 10.7% | 12.1% |
| Median Negative | -4.2% | -10.9% | -7.3% |
| Max Positive | 63.6% | 51.3% | 71.4% |
| Max Negative | -35.3% | -33.7% | -33.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/07/2026 | 10-Q |
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/11/2025 | 10-Q |
| 03/31/2025 | 05/12/2025 | 10-Q |
| 12/31/2024 | 03/18/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/07/2026 | 10-Q |
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/11/2025 | 10-Q |
| 03/31/2025 | 05/12/2025 | 10-Q |
| 12/31/2024 | 03/18/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/05/2022 | 10-Q |
| 03/31/2022 | 05/06/2022 | 10-Q |
| 12/31/2021 | 03/01/2022 | 10-K |
| 09/30/2021 | 11/15/2021 | 10-Q |
| 06/30/2021 | 08/11/2021 | 10-Q |
| 03/31/2021 | 05/12/2021 | 10-Q |
| 12/31/2020 | 03/22/2021 | 10-K |
| 09/30/2020 | 11/23/2020 | 424B4 |
Recent Forward Guidance
Updated 8/7/2026Latest: Q2 2026 Earnings Reported 8/6/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 205.00 Mil | 210.00 Mil | 215.00 Mil | 0 | Affirmed | Guidance: 210.00 Mil for 2026 | |
| 2026 Adjusted EBITDA | 33.00 Mil | 34.00 Mil | 35.00 Mil | 9.7% | Raised | Guidance: 31.00 Mil for 2026 | |
Prior: Q1 2026 Earnings Reported 5/7/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 205.00 Mil | 210.00 Mil | 215.00 Mil | 2.4% | Raised | Guidance: 205.00 Mil for 2026 | |
| 2026 Adjusted EBITDA | 30.00 Mil | 31.00 Mil | 32.00 Mil | 63.2% | Raised | Guidance: 19.00 Mil for 2026 | |
Q4 2025 Earnings Reported 2/25/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 200.00 Mil | 205.00 Mil | 210.00 Mil | 10.8% | Higher New | Actual: 185.00 Mil for 2025 | |
| 2026 Adjusted EBITDA | 18.00 Mil | 19.00 Mil | 20.00 Mil | ||||
Q3 2025 Earnings Reported 11/6/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Sequential Revenue Growth | 10.0% | ||||||
| 2025 Revenue | 185.00 Mil | ||||||
Insider Activity
Updated 8/11/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Oreshack, Kurt | General Counsel | Direct | Sell | 6102026 | 5.10 | 25,000 | 127,500 | 1,712,412 | Form |
| 2 | Oreshack, Kurt | General Counsel | Direct | Sell | 6102026 | 5.06 | 25,000 | 126,500 | 1,825,481 | Form |
| 3 | Lucier, Gregory T | Direct | Buy | 12092025 | 3.67 | 48,528 | 178,098 | 569,301 | Form | |
| 4 | Lucier, Gregory T | Direct | Buy | 12092025 | 3.70 | 51,472 | 190,446 | 394,402 | Form | |
| 5 | Brust, Bernd | Chief Executive Officer | The Bernd Brust Management Trust | Buy | 11132025 | 3.21 | 93,358 | 299,679 | 804,294 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Oreshack, Kurt | General Counsel | Direct | Sell | 6102026 | 5.10 | 25,000 | 127,500 | 1,712,412 | Form |
| 2 | Oreshack, Kurt | General Counsel | Direct | Sell | 6102026 | 5.06 | 25,000 | 126,500 | 1,825,481 | Form |
| 3 | Lucier, Gregory T | Direct | Buy | 12092025 | 3.67 | 48,528 | 178,098 | 569,301 | Form | |
| 4 | Lucier, Gregory T | Direct | Buy | 12092025 | 3.70 | 51,472 | 190,446 | 394,402 | Form | |
| 5 | Brust, Bernd | Chief Executive Officer | The Bernd Brust Management Trust | Buy | 11132025 | 3.21 | 93,358 | 299,679 | 804,294 | Form |
| 6 | Brust, Bernd | Chief Executive Officer | The Bernd Brust Management Trust | Buy | 11132025 | 3.24 | 157,201 | 509,331 | 509,331 | Form |
Investor Activity (13F)
Updated Aug 19, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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