Maravai LifeSciences (NASDAQ:MRVI) Stock Price Down 8.9% – Time to Sell?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s share price was down 8.9% during trading on Wednesday . The stock traded as low as $3.45 and last traded at $3.46. Approximately 339,664 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 1,078,739 shares. The stock had previously closed at $3.80.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Maravai LifeSciences in a research note on Tuesday, October 14th. Wells Fargo & Company boosted their target price on shares of Maravai LifeSciences from $4.00 to $4.50 and gave the stock an “overweight” rating in a report on Monday, December 15th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $5.25.

Maravai LifeSciences Stock Down 2.0%

The company has a quick ratio of 4.56, a current ratio of 5.29 and a debt-to-equity ratio of 0.74. The business’s fifty day simple moving average is $3.62 and its 200 day simple moving average is $3.09.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.02). Maravai LifeSciences had a negative return on equity of 22.42% and a negative net margin of 62.88%.The firm had revenue of $41.63 million during the quarter, compared to the consensus estimate of $49.02 million. As a group, research analysts anticipate that Maravai LifeSciences Holdings, Inc. will post -0.24 EPS for the current year.

Insider Activity at Maravai LifeSciences

In related news, Director Gregory T. Lucier purchased 51,472 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The stock was acquired at an average price of $3.70 per share, for a total transaction of $190,446.40. Following the completion of the acquisition, the director owned 106,595 shares of the company’s stock, valued at $394,401.50. This represents a 93.38% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bernd Brust purchased 216,212 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The shares were purchased at an average price of $3.25 per share, for a total transaction of $702,689.00. Following the completion of the acquisition, the chief executive officer owned 466,771 shares of the company’s stock, valued at $1,517,005.75. The trade was a 86.29% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 566,771 shares of company stock worth $1,880,244. 2.11% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sprott Inc. purchased a new stake in shares of Maravai LifeSciences during the 3rd quarter worth approximately $29,000. Callan Family Office LLC purchased a new stake in Maravai LifeSciences in the second quarter worth $25,000. Ethic Inc. bought a new stake in shares of Maravai LifeSciences in the second quarter valued at $26,000. Quantessence Capital LLC purchased a new position in shares of Maravai LifeSciences during the 3rd quarter valued at $31,000. Finally, Abel Hall LLC purchased a new position in shares of Maravai LifeSciences during the 3rd quarter valued at $33,000. 50.25% of the stock is currently owned by hedge funds and other institutional investors.

Maravai LifeSciences Company Profile

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.