Maravai LifeSciences (NASDAQ:MRVI) Shares Down 4.6% – What’s Next?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price fell 4.6% during mid-day trading on Tuesday . The company traded as low as $8.11 and last traded at $8.11. 543,295 shares were traded during mid-day trading, a decline of 76% from the average session volume of 2,236,886 shares. The stock had previously closed at $8.50.

Analyst Ratings Changes

Several research firms recently issued reports on MRVI. Wells Fargo & Company started coverage on Maravai LifeSciences in a report on Tuesday, August 27th. They set an “overweight” rating and a $10.00 target price on the stock. Morgan Stanley cut shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $11.00 to $10.00 in a research note on Tuesday, August 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $15.00 price target on shares of Maravai LifeSciences in a research report on Friday, August 16th. The Goldman Sachs Group decreased their price objective on shares of Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Tuesday, October 8th. Finally, UBS Group boosted their price objective on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.67.

Maravai LifeSciences Price Performance

The company’s 50-day moving average price is $8.50 and its two-hundred day moving average price is $8.56. The company has a debt-to-equity ratio of 0.71, a current ratio of 10.00 and a quick ratio of 9.28. The company has a market capitalization of $1.86 billion and a P/E ratio of -7.44.

Maravai LifeSciences (NASDAQ:MRVI) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter. Maravai LifeSciences had a negative net margin of 47.41% and a negative return on equity of 4.78%. The company had revenue of $73.40 million during the quarter, compared to the consensus estimate of $71.64 million. During the same period in the prior year, the company earned ($0.06) earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.17 EPS for the current year.

Institutional Trading of Maravai LifeSciences

Several institutional investors have recently added to or reduced their stakes in MRVI. GAMMA Investing LLC lifted its holdings in shares of Maravai LifeSciences by 310.2% during the second quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock worth $26,000 after buying an additional 2,711 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Maravai LifeSciences in the 2nd quarter worth about $32,000. Headlands Technologies LLC bought a new stake in Maravai LifeSciences in the 1st quarter valued at about $42,000. Blue Trust Inc. bought a new stake in Maravai LifeSciences in the 2nd quarter valued at about $44,000. Finally, Delap Wealth Advisory LLC acquired a new position in shares of Maravai LifeSciences during the 1st quarter worth approximately $106,000. 50.25% of the stock is currently owned by institutional investors.

About Maravai LifeSciences

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.