Maravai LifeSciences (NASDAQ:MRVI) Shares Down 2.5%

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price dropped 2.5% during trading on Wednesday . The company traded as low as $7.89 and last traded at $7.91. Approximately 562,500 shares were traded during trading, a decline of 76% from the average daily volume of 2,375,996 shares. The stock had previously closed at $8.11.

Analyst Ratings Changes

A number of research firms have recently weighed in on MRVI. Craig Hallum started coverage on Maravai LifeSciences in a research report on Wednesday, April 10th. They set a “buy” rating and a $15.00 target price for the company. Stifel Nicolaus decreased their price target on shares of Maravai LifeSciences from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Royal Bank of Canada raised their price target on Maravai LifeSciences from $12.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Finally, Robert W. Baird upped their price objective on Maravai LifeSciences from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Maravai LifeSciences presently has an average rating of “Moderate Buy” and an average target price of $11.44.

Maravai LifeSciences Price Performance

The company has a current ratio of 11.32, a quick ratio of 10.47 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of -8.00 and a beta of 0.06. The firm has a 50-day simple moving average of $9.02 and a two-hundred day simple moving average of $7.43.

Maravai LifeSciences (NASDAQ:MRVI) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.05). The company had revenue of $64.18 million during the quarter, compared to analysts’ expectations of $60.84 million. Maravai LifeSciences had a negative return on equity of 4.28% and a negative net margin of 47.81%. As a group, analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.15 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Gtcr Investment Xi Llc sold 9,940,974 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $9.81, for a total transaction of $97,520,954.94. Following the completion of the sale, the director now owns 20,150,005 shares of the company’s stock, valued at $197,671,549.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Maravai LifeSciences

A number of institutional investors have recently made changes to their positions in MRVI. Gladius Capital Management LP acquired a new stake in shares of Maravai LifeSciences during the fourth quarter worth about $30,000. Performa Ltd US LLC grew its stake in shares of Maravai LifeSciences by 112.4% in the fourth quarter. Performa Ltd US LLC now owns 6,000 shares of the company’s stock worth $39,000 after acquiring an additional 3,175 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Maravai LifeSciences during the first quarter worth $42,000. Pinnacle Associates Ltd. purchased a new position in Maravai LifeSciences in the fourth quarter valued at $69,000. Finally, Burgundy Asset Management Ltd. acquired a new position in Maravai LifeSciences during the 4th quarter worth $95,000. 50.25% of the stock is currently owned by institutional investors and hedge funds.

Maravai LifeSciences Company Profile

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 worldwide. 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.