Maravai LifeSciences (NASDAQ:MRVI) Shares Gap Down – Here’s What Happened

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $8.37, but opened at $8.12. Maravai LifeSciences shares last traded at $8.09, with a volume of 549,954 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Maravai LifeSciences in a research report on Wednesday. Wells Fargo & Company raised their price target on shares of Maravai LifeSciences from $5.50 to $6.50 and gave the company an “overweight” rating in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $6.00 price target on shares of Maravai LifeSciences in a research note on Friday, May 8th. UBS Group reiterated a “reduce” rating on shares of Maravai LifeSciences in a report on Wednesday, June 3rd. Finally, Wall Street Zen raised Maravai LifeSciences from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Two analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.25.

Maravai LifeSciences Price Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 4.05 and a quick ratio of 2.98. The business’s 50-day moving average price is $6.57 and its two-hundred day moving average price is $4.74. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -15.48 and a beta of 0.63.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. The company had revenue of $51.44 million during the quarter, compared to analyst estimates of $48.67 million. Maravai LifeSciences had a negative net margin of 37.07% and a negative return on equity of 15.70%. On average, research analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $5.06, for a total transaction of $126,500.00. Following the sale, the general counsel owned 360,767 shares in the company, valued at $1,825,481.02. This represents a 6.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.49% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Maravai LifeSciences

Hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System increased its stake in Maravai LifeSciences by 61.5% during the second quarter. California State Teachers Retirement System now owns 9,553 shares of the company’s stock valued at $60,000 after purchasing an additional 3,639 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Maravai LifeSciences by 49.0% in the 1st quarter. Royal Bank of Canada now owns 9,761 shares of the company’s stock valued at $27,000 after buying an additional 3,209 shares during the period. Virtu Financial LLC bought a new stake in shares of Maravai LifeSciences during the 4th quarter valued at about $34,000. Insigneo Advisory Services LLC acquired a new stake in Maravai LifeSciences during the fourth quarter worth about $34,000. Finally, Quantessence Capital LLC acquired a new stake in Maravai LifeSciences during the third quarter worth about $31,000. Institutional investors and hedge funds own 50.25% of the company’s stock.

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.