Maravai LifeSciences (NASDAQ:MRVI) Shares Gap Down – Time to Sell?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) shares gapped down before the market opened on Thursday. The stock had previously closed at $7.72, but opened at $6.85. Maravai LifeSciences shares last traded at $7.2860, with a volume of 305,358 shares changing hands.

Analysts Set New Price Targets

MRVI has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Maravai LifeSciences in a report on Wednesday, August 26th. UBS Group increased their target price 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 began coverage on shares of Maravai LifeSciences in a research note on Monday, October 5th. They issued a “buy” rating and a $9.00 price target for the company. Wells Fargo & Company increased their target price on Maravai LifeSciences from $5.50 to $6.50 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Wall Street Zen lowered Maravai LifeSciences from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $7.38.

Maravai LifeSciences Stock Down 9.8%

The company has a market capitalization of $1.81 billion, a PE ratio of -13.38 and a beta of 0.61. The company has a current ratio of 4.05, a quick ratio of 2.98 and a debt-to-equity ratio of 0.49. The firm has a 50 day simple moving average of $7.42 and a two-hundred day simple moving average of $5.29.

Maravai LifeSciences (NASDAQ:MRVI) last issued its quarterly earnings results on Wednesday, November 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03. The business had revenue of $45.85 million for the quarter, compared to analyst estimates of $43.56 million. Maravai LifeSciences had a negative net margin of 37.07% and a negative return on equity of 15.70%. Research analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.18 EPS for the current year.

Institutional Trading of Maravai LifeSciences

Several institutional investors and hedge funds have recently modified their holdings of the business. Headlands Technologies LLC acquired a new position in shares of Maravai LifeSciences in the second quarter worth $1,038,000. Dimensional Fund Advisors LP boosted its stake in Maravai LifeSciences by 64.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,418,597 shares of the company’s stock worth $4,015,000 after buying an additional 558,050 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Maravai LifeSciences in the 2nd quarter worth about $2,230,000. Engineers Gate Manager LP acquired a new stake in Maravai LifeSciences in the 2nd quarter worth about $487,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Maravai LifeSciences in the second quarter worth approximately $728,000. Hedge funds and other institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Company Profile

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

Through its TriLink BioTechnologies business, Maravai supplies specialized nucleic acid products and services, including modified nucleotides, messenger RNA-related materials, enzymes and other components used in research and biomanufacturing.