Maravai LifeSciences (NASDAQ:MRVI) Shares Down 3.1%

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price was down 3.1% during mid-day trading on Tuesday . The stock traded as low as $8.30 and last traded at $8.43. Approximately 873,589 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 2,331,088 shares. The stock had previously closed at $8.70.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. The Goldman Sachs Group raised their price target on Maravai LifeSciences from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Robert W. Baird increased their target price on Maravai LifeSciences from $8.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. Finally, Morgan Stanley lowered shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $11.00 to $10.00 in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Maravai LifeSciences currently has a consensus rating of “Moderate Buy” and an average price target of $10.75.

Maravai LifeSciences Stock Down 3.0 %

The stock’s fifty day moving average price is $8.15 and its 200-day moving average price is $8.04. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of -8.68 and a beta of 0.02. The company has a quick ratio of 10.47, a current ratio of 11.32 and a debt-to-equity ratio of 0.71.

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

Insider Activity

In other news, Director Gtcr Investment Xi Llc sold 9,940,974 shares of Maravai LifeSciences stock in a transaction dated 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 completion of the transaction, the director now owns 20,150,005 shares of the company’s stock, valued at approximately $197,671,549.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.63% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Point72 Europe London LLP acquired a new stake in Maravai LifeSciences during the 4th quarter worth approximately $17,059,000. 12 West Capital Management LP boosted its position in shares of Maravai LifeSciences by 13.8% in the first quarter. 12 West Capital Management LP now owns 13,202,988 shares of the company’s stock valued at $114,470,000 after acquiring an additional 1,600,000 shares during the period. Braidwell LP grew its stake in shares of Maravai LifeSciences by 26.8% in the fourth quarter. Braidwell LP now owns 5,040,635 shares of the company’s stock valued at $33,016,000 after acquiring an additional 1,065,778 shares in the last quarter. Renaissance Technologies LLC increased its position in Maravai LifeSciences by 20.8% during the second quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock worth $27,791,000 after acquiring an additional 668,552 shares during the period. Finally, Bamco Inc. NY raised its stake in Maravai LifeSciences by 43.1% in the 1st quarter. Bamco Inc. NY now owns 2,123,651 shares of the company’s stock worth $18,412,000 after purchasing an additional 640,000 shares in the last quarter. 50.25% of the stock is owned by institutional investors and hedge funds.

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.