Maravai LifeSciences (NASDAQ:MRVI) Cut to “Hold” at Wall Street Zen

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

MRVI has been the subject of several other research reports. UBS Group reaffirmed a “reduce” rating on shares of Maravai LifeSciences in a research note on Wednesday, June 3rd. Wells Fargo & Company lifted their target price on shares of Maravai LifeSciences from $5.50 to $6.50 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Maravai LifeSciences in a report on Wednesday, August 26th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $6.00 price target on shares of Maravai LifeSciences in a research report on Friday, May 8th. Two research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.25.

Maravai LifeSciences Trading Down 0.5%

Shares of MRVI stock opened at $7.64 on Friday. The firm has a market capitalization of $1.98 billion, a P/E ratio of -14.69 and a beta of 0.63. Maravai LifeSciences has a twelve month low of $2.29 and a twelve month high of $9.42. The company has a quick ratio of 2.98, a current ratio of 4.05 and a debt-to-equity ratio of 0.49. The stock’s fifty day simple moving average is $6.66 and its 200 day simple moving average is $4.80.

Maravai LifeSciences (NASDAQ:MRVI) last issued its earnings results on Thursday, August 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. Maravai LifeSciences had a negative return on equity of 15.70% and a negative net margin of 37.07%.The business had revenue of $51.44 million during the quarter, compared to analysts’ expectations of $48.67 million. As a group, sell-side analysts predict that Maravai LifeSciences will post -0.2 EPS for the current fiscal year.

Insider Activity at Maravai LifeSciences

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $5.06, for a total value of $126,500.00. Following the sale, the general counsel owned 360,767 shares in the company, valued at approximately $1,825,481.02. The trade was a 6.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.49% of the company’s stock.

Hedge Funds Weigh In On Maravai LifeSciences

Hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC lifted its stake in shares of Maravai LifeSciences by 1,463.1% in the first quarter. Jane Street Group LLC now owns 380,403 shares of the company’s stock worth $841,000 after acquiring an additional 356,067 shares during the period. Creative Planning increased its position in Maravai LifeSciences by 49.6% during the 2nd quarter. Creative Planning now owns 116,031 shares of the company’s stock valued at $280,000 after purchasing an additional 38,450 shares during the period. Rhumbline Advisers increased its position in Maravai LifeSciences by 20.3% during the 2nd quarter. Rhumbline Advisers now owns 195,272 shares of the company’s stock valued at $471,000 after purchasing an additional 32,940 shares during the period. Prudential Financial Inc. bought a new position in Maravai LifeSciences during the 2nd quarter worth approximately $36,000. Finally, Invesco Ltd. raised its holdings in Maravai LifeSciences by 16.8% during the 2nd quarter. Invesco Ltd. now owns 282,192 shares of the company’s stock worth $680,000 after purchasing an additional 40,495 shares during the last quarter. 50.25% of the stock is currently owned by institutional investors.

About Maravai LifeSciences

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.