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Stock Alert: Maravai LifeSciences Up 12% After Swinging To Profit In Q4

Maravai LifeSciences Holdings, Inc. (MRVI) shares are up more than 14 percent on Wednesday's morning trade as the company is back in the black on 173.5 percent increase in revenue.

The company with a focus on nucleic acid synthesis, bioprocess impurity detection and analysis, reported fourth-quarter profit of $25.21 million compared to loss of $5.39 million in the prior year. On a per-share basis, earnings were $0.13, versus a loss of $0.03 a year ago.

Revenue for the quarter increased to $98.35 million from $35.96 million during the corresponding period last year. The nucleic acid production contributed $60.01 million to the revenue, while it was $17.73 million last year.

Currently, shares are at $39.49, up 12 percent from the previous close of $35.06. The shares have traded in a range of $23.62 - $40.24 on average volume of 1,126,243 for the last 52 weeks.

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