Maravai LifeSciences (NASDAQ:MRVI) Shares Down 5.1%

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) shares traded down 5.1% on Monday . The stock traded as low as $9.07 and last traded at $9.19. 1,369,974 shares traded hands during trading, a decline of 44% from the average session volume of 2,447,851 shares. The stock had previously closed at $9.68.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $15.00 price target on shares of Maravai LifeSciences in a research report on Friday. Morgan Stanley downgraded shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $11.00 to $10.00 in a research report on Tuesday, August 13th. Robert W. Baird lifted their target price on shares of Maravai LifeSciences from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. UBS Group lifted their target price on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Finally, The Goldman Sachs Group lifted their target price on shares of Maravai LifeSciences from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.88.

Maravai LifeSciences Stock Performance

The company has a current ratio of 11.32, a quick ratio of 10.47 and a debt-to-equity ratio of 0.71. The business’s 50 day moving average is $8.15 and its two-hundred day moving average is $8.11. The company has a market cap of $2.32 billion, a PE ratio of -9.24 and a beta of 0.02.

Maravai LifeSciences (NASDAQ:MRVI) last released its earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter. The firm had revenue of $73.40 million for the quarter, compared to analysts’ expectations of $71.64 million. Maravai LifeSciences had a negative net margin of 47.81% and a negative return on equity of 4.28%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.06) EPS. On average, equities research analysts anticipate that Maravai LifeSciences Holdings, Inc. will post -0.15 EPS for the current year.

Insiders Place Their Bets

In other Maravai LifeSciences news, Director Gtcr Investment Xi Llc sold 9,940,974 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $9.81, for a total value of $97,520,954.94. Following the sale, the director now owns 20,150,005 shares in the company, valued at approximately $197,671,549.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.63% of the company’s stock.

Institutional Trading of Maravai LifeSciences

A number of large investors have recently made changes to their positions in the business. 12 West Capital Management LP increased its holdings in shares of Maravai LifeSciences by 13.8% in the 1st quarter. 12 West Capital Management LP now owns 13,202,988 shares of the company’s stock worth $114,470,000 after buying an additional 1,600,000 shares during the last quarter. Vanguard Group Inc. grew its holdings in Maravai LifeSciences by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 10,038,126 shares of the company’s stock valued at $87,031,000 after purchasing an additional 34,232 shares during the last quarter. Millennium Management LLC grew its holdings in Maravai LifeSciences by 12.3% during the 2nd quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock valued at $42,735,000 after purchasing an additional 653,639 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Maravai LifeSciences by 16.8% during the 2nd quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock valued at $41,962,000 after purchasing an additional 844,325 shares during the last quarter. Finally, Braidwell LP boosted its position in Maravai LifeSciences by 26.8% in the 4th quarter. Braidwell LP now owns 5,040,635 shares of the company’s stock valued at $33,016,000 after buying an additional 1,065,778 shares during the period. 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.