Maravai LifeSciences (NASDAQ:MRVI) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen downgraded shares of Maravai LifeSciences (NASDAQ:MRVI) from a buy rating to a hold rating in a report published on Saturday.

Other equities analysts have also issued research reports about the stock. UBS Group reaffirmed a “reduce” rating on shares of Maravai LifeSciences in a research note on Wednesday, June 3rd. Weiss Ratings upgraded Maravai LifeSciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 29th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $6.00 price target on shares of Maravai LifeSciences in a report on Friday, May 8th. Finally, Wells Fargo & Company upped their price target on Maravai LifeSciences from $4.50 to $5.50 and gave the company an “overweight” rating in a research report on Friday, May 8th. Three analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $5.50.

Maravai LifeSciences Price Performance

NASDAQ MRVI opened at $6.57 on Friday. The company has a current ratio of 5.91, a quick ratio of 4.96 and a debt-to-equity ratio of 0.72. Maravai LifeSciences has a 1 year low of $1.99 and a 1 year high of $7.44. The company has a market cap of $1.70 billion, a PE ratio of -9.25 and a beta of 0.65. The stock’s 50-day moving average price is $5.80 and its two-hundred day moving average price is $4.30.

Maravai LifeSciences (NASDAQ:MRVI) last announced its earnings results on Thursday, May 7th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.06. The company had revenue of $65.84 million during the quarter, compared to analysts’ expectations of $53.00 million. Maravai LifeSciences had a negative net margin of 51.07% and a negative return on equity of 17.87%. On average, analysts predict that Maravai LifeSciences will post -0.2 EPS for the current year.

Insiders Place Their Bets

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $5.06, for a total value of $126,500.00. Following the completion of the sale, the general counsel owned 360,767 shares in the company, valued at $1,825,481.02. This represents a 6.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.49% of the company’s stock.

Hedge Funds Weigh In On Maravai LifeSciences

A number of hedge funds have recently modified their holdings of the stock. Royal Bank of Canada boosted its position in Maravai LifeSciences by 49.0% during the first quarter. Royal Bank of Canada now owns 9,761 shares of the company’s stock valued at $27,000 after purchasing an additional 3,209 shares during the last quarter. Renaissance Technologies LLC increased its position in Maravai LifeSciences by 0.9% in the 1st quarter. Renaissance Technologies LLC now owns 4,264,689 shares of the company’s stock worth $12,069,000 after purchasing an additional 39,600 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Maravai LifeSciences in the 1st quarter worth about $238,000. Dimensional Fund Advisors LP raised its stake in shares of Maravai LifeSciences by 64.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,418,597 shares of the company’s stock worth $4,015,000 after purchasing an additional 558,050 shares in the last quarter. Finally, Brummer Multi Strategy AB raised its stake in shares of Maravai LifeSciences by 66.0% during the 1st quarter. Brummer Multi Strategy AB now owns 759,743 shares of the company’s stock worth $2,150,000 after purchasing an additional 302,036 shares in the last quarter. 50.25% of the stock is owned by institutional investors and hedge funds.

Maravai LifeSciences Company Profile

Maravai LifeSciences Holdings, Inc (NASDAQ: MRVI) is a life sciences company specializing in the development and supply of critical reagents and services for the development and manufacture of biologic therapies. The company’s offerings support a range of applications in genomics, molecular diagnostics, vaccine development and next-generation sequencing. Maravai’s platforms address key challenges in nucleic acid production, protein detection, epigenetic analysis and reagent quality across the biopharmaceutical industry.

Through its product portfolio, which includes proprietary mRNA capping reagents, lipid nanoparticle delivery systems, synthetic oligonucleotides and high-precision assay kits, Maravai enables customers to accelerate research and streamline manufacturing workflows.