Maravai LifeSciences (NASDAQ:MRVI) Stock Price Down 5.3% – What’s Next?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price dropped 5.3% during mid-day trading on Thursday . The company traded as low as $8.46 and last traded at $8.4250. 1,561,504 shares were traded during mid-day trading, a decline of 35% from the average session volume of 2,414,749 shares. The stock had previously closed at $8.90.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MRVI shares. Wall Street Zen lowered Maravai LifeSciences from a “buy” rating to a “hold” rating in a research note on Saturday. UBS Group reissued a “reduce” rating on shares of Maravai LifeSciences in a research note on Wednesday, June 3rd. Wells Fargo & Company boosted their target price 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. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $6.00 target price on shares of Maravai LifeSciences in a research report on Friday, May 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Maravai LifeSciences in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.25.

Maravai LifeSciences Stock Performance

The company has a 50 day moving average price of $6.62 and a 200 day moving average price of $4.76. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of -14.77 and a beta of 0.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.98 and a current ratio of 4.05.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.02) EPS for the quarter, beating 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 firm had revenue of $51.44 million during the quarter, compared to analysts’ expectations of $48.67 million. Equities research analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.2 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MRVI. California State Teachers Retirement System boosted its holdings in Maravai LifeSciences by 61.5% during the second quarter. California State Teachers Retirement System now owns 9,553 shares of the company’s stock worth $60,000 after purchasing an additional 3,639 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Maravai LifeSciences by 49.0% in the first quarter. Royal Bank of Canada now owns 9,761 shares of the company’s stock valued at $27,000 after acquiring an additional 3,209 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Maravai LifeSciences during the fourth quarter valued at approximately $34,000. Insigneo Advisory Services LLC purchased a new stake in shares of Maravai LifeSciences during the fourth quarter valued at approximately $34,000. Finally, Quantessence Capital LLC bought a new stake in Maravai LifeSciences during the third quarter worth $31,000. Institutional investors own 50.25% of the company’s stock.

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.