Wall Street Zen Downgrades Maravai LifeSciences (NASDAQ:MRVI) to Hold

Maravai LifeSciences (NASDAQ:MRVI) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other brokerages have also issued reports on MRVI. Weiss Ratings reiterated a “sell (d-)” rating on shares of Maravai LifeSciences in a report on Wednesday. UBS Group restated a “reduce” rating on shares of Maravai LifeSciences in a report on Wednesday, June 3rd. Wells Fargo & Company upped their target price on Maravai LifeSciences from $5.50 to $6.50 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $6.00 target price on shares of Maravai LifeSciences in a 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. Based on data from MarketBeat, Maravai LifeSciences presently has an average rating of “Hold” and an average target price of $6.25.

Maravai LifeSciences Stock Performance

Shares of MRVI stock opened at $7.68 on Friday. Maravai LifeSciences has a fifty-two week low of $2.29 and a fifty-two week high of $9.42. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.98 and a current ratio of 4.05. The stock has a 50 day simple moving average of $6.62 and a two-hundred day simple moving average of $4.77. The company has a market cap of $1.99 billion, a P/E ratio of -14.77 and a beta of 0.63.

Maravai LifeSciences (NASDAQ:MRVI) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. Maravai LifeSciences had a negative net margin of 37.07% and a negative return on equity of 15.70%. The company had revenue of $51.44 million during the quarter, compared to analyst estimates of $48.67 million. Research analysts forecast that Maravai LifeSciences will post -0.2 earnings per share for the current year.

Insider Transactions at Maravai LifeSciences

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the company’s stock in a transaction 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 legal filing with the SEC, which is available through this hyperlink. 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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its stake 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 worth $27,000 after purchasing an additional 3,209 shares during the last quarter. California State Teachers Retirement System raised its position in Maravai LifeSciences by 61.5% during the 2nd quarter. California State Teachers Retirement System now owns 9,553 shares of the company’s stock valued at $60,000 after purchasing an additional 3,639 shares during the last quarter. Barclays PLC lifted its holdings in Maravai LifeSciences by 3.0% in the 4th quarter. Barclays PLC now owns 172,281 shares of the company’s stock worth $560,000 after buying an additional 5,057 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Maravai LifeSciences by 12.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 46,528 shares of the company’s stock worth $112,000 after buying an additional 5,160 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Maravai LifeSciences by 2.7% in the 1st quarter. Bank of New York Mellon Corp now owns 343,643 shares of the company’s stock worth $973,000 after buying an additional 8,955 shares during the last quarter. 50.25% of the stock is currently owned by hedge funds and other 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.