Maravai LifeSciences (NASDAQ:MRVI) Trading Down 7.1% – What’s Next?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) fell 7.1% during trading on Wednesday . The stock traded as low as $5.17 and last traded at $5.11. 1,650,742 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 1,993,870 shares. The stock had previously closed at $5.50.

Wall Street Analysts Forecast Growth

Several research firms have commented on MRVI. Guggenheim began coverage on shares of Maravai LifeSciences in a research report on Thursday, December 19th. They issued a “neutral” rating for the company. The Goldman Sachs Group cut shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $7.00 to $4.25 in a report on Thursday, December 5th. William Blair reiterated a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Royal Bank of Canada decreased their price objective on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, Wolfe Research started coverage on shares of Maravai LifeSciences in a report on Thursday, November 14th. They issued a “peer perform” rating for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.28.

Maravai LifeSciences Trading Down 2.4 %

The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89. The firm has a market cap of $1.24 billion, a PE ratio of -3.01 and a beta of -0.07. The company’s 50-day moving average is $5.43 and its 200 day moving average is $7.18.

Maravai LifeSciences (NASDAQ:MRVI) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.09) EPS for the quarter. The firm had revenue of $65.20 million during the quarter, compared to analysts’ expectations of $67.58 million. Maravai LifeSciences had a negative net margin of 81.13% and a negative return on equity of 6.61%. During the same quarter last year, the company posted ($0.02) EPS. As a group, sell-side analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.24 EPS for the current year.

Insiders Place Their Bets

In other Maravai LifeSciences news, insider Carl Hull purchased 175,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were bought at an average price of $5.64 per share, for a total transaction of $987,000.00. Following the purchase, the insider now directly owns 175,000 shares in the company, valued at $987,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Kurt Oreshack sold 25,000 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $5.03, for a total transaction of $125,750.00. Following the transaction, the general counsel now owns 167,618 shares in the company, valued at approximately $843,118.54. This trade represents a 12.98 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Maravai LifeSciences during the 2nd quarter worth $32,000. Venturi Wealth Management LLC acquired a new position in Maravai LifeSciences in the 3rd quarter valued at $47,000. FNY Investment Advisers LLC grew its stake in Maravai LifeSciences by 600.0% in the 4th quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock valued at $38,000 after buying an additional 6,000 shares during the last quarter. Custom Index Systems LLC bought a new stake in Maravai LifeSciences in the 3rd quarter valued at $97,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Maravai LifeSciences in the 3rd quarter valued at $105,000. Institutional investors and hedge funds own 50.25% of the company’s stock.

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.