Maravai LifeSciences (NASDAQ:MRVI) Shares Down 6.5% – What’s Next?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price was down 6.5% on Tuesday. The stock traded as low as $6.59 and last traded at $6.6020. Approximately 2,376,345 shares changed hands during trading, a decline of 4% from the average daily volume of 2,488,211 shares. The stock had previously closed at $7.06.

Analyst Ratings Changes

Several research firms have commented on MRVI. UBS Group lifted their price objective on shares of Maravai LifeSciences from $2.50 to $8.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 9th. TD Cowen assumed coverage on shares of Maravai LifeSciences in a research note on Monday, October 5th. They issued a “buy” rating and a $9.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Maravai LifeSciences in a report on Wednesday, August 26th. Wells Fargo & Company lifted their price target on shares of Maravai LifeSciences from $5.50 to $6.50 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Finally, Wall Street Zen downgraded shares of Maravai LifeSciences from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $7.38.

Maravai LifeSciences Stock Performance

The firm has a market capitalization of $1.72 billion, a P/E ratio of -12.68 and a beta of 0.54. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.05 and a quick ratio of 2.98. The firm has a 50-day moving average price of $7.20 and a two-hundred day moving average price of $5.66.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. The company had revenue of $51.44 million during the quarter, compared to analyst estimates of $48.67 million. Maravai LifeSciences had a negative net margin of 37.07% and a negative return on equity of 15.70%. On average, analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.20 EPS for the current fiscal year.

Institutional Trading of Maravai LifeSciences

Large investors have recently modified their holdings of the company. Headlands Technologies LLC bought a new position in Maravai LifeSciences in the second quarter worth approximately $1,038,000. Dimensional Fund Advisors LP raised its position in Maravai LifeSciences by 64.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,418,597 shares of the company’s stock valued at $4,015,000 after purchasing an additional 558,050 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Maravai LifeSciences during the 2nd quarter valued at $2,230,000. Brummer Multi Strategy AB lifted its holdings in shares of Maravai LifeSciences by 66.0% in the 1st quarter. Brummer Multi Strategy AB now owns 759,743 shares of the company’s stock worth $2,150,000 after buying an additional 302,036 shares during the period. Finally, Eversept Partners LP lifted its holdings in shares of Maravai LifeSciences by 147.2% in the 4th quarter. Eversept Partners LP now owns 718,582 shares of the company’s stock worth $2,335,000 after buying an additional 427,909 shares during the period. Hedge funds and other institutional investors own 50.25% of the company’s stock.

About Maravai LifeSciences

Maravai LifeSciences Holdings, Inc is a life sciences company that provides products and services used in the development and manufacture of biopharmaceuticals, vaccines, diagnostics and other advanced biological products. The company serves research, pharmaceutical, biotechnology and healthcare customers involved in nucleic acid production, biologics development and quality testing.

Maravai’s Nucleic Acid Production segment, which includes TriLink BioTechnologies, supplies specialized messenger RNA and other nucleic acid products, raw materials and related manufacturing services.