Maravai LifeSciences (NASDAQ:MRVI) Posts Earnings Results, Misses Estimates By $0.08 EPS

Maravai LifeSciences (NASDAQ:MRVI) posted its quarterly earnings results on Tuesday. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08), Zacks reports. Maravai LifeSciences had a negative net margin of 81.13% and a negative return on equity of 6.61%.

Maravai LifeSciences Stock Down 2.3 %

Shares of NASDAQ MRVI traded down $0.06 during mid-day trading on Tuesday, hitting $2.58. The company had a trading volume of 4,178,790 shares, compared to its average volume of 3,092,617. The company has a market capitalization of $651.52 million, a PE ratio of -1.57 and a beta of -0.08. The firm has a 50-day simple moving average of $4.23 and a two-hundred day simple moving average of $5.97. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89. Maravai LifeSciences has a one year low of $2.37 and a one year high of $11.56.

Wall Street Analyst Weigh In

Several brokerages recently commented on MRVI. Robert W. Baird downgraded Maravai LifeSciences from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $9.00 to $3.00 in a research note on Wednesday, February 26th. Baird R W downgraded Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Guggenheim started coverage on Maravai LifeSciences in a research note on Thursday, December 19th. They issued a “neutral” rating on the stock. The Goldman Sachs Group downgraded Maravai LifeSciences from a “neutral” rating to a “sell” rating and dropped their price target for the company from $7.00 to $4.25 in a research note on Thursday, December 5th. Finally, Bank of America dropped their price target on Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Maravai LifeSciences currently has an average rating of “Hold” and a consensus price target of $9.28.

Insider Activity

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $5.03, for a total value of $125,750.00. Following the completion of the transaction, the general counsel now owns 167,618 shares in the company, valued at $843,118.54. This trade represents a 12.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.63% of the stock is owned by corporate insiders.

Maravai LifeSciences Company Profile

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.