Maravai LifeSciences (NASDAQ:MRVI) Trading Down 7.1% – Here’s What Happened

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

Wall Street Analyst Weigh In

MRVI has been the topic of a number of research reports. Robert W. Baird lowered their target price on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Royal Bank of Canada lowered their target price on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Wolfe Research initiated coverage on Maravai LifeSciences in a research note on Thursday, November 14th. They set a “peer perform” rating for the company. William Blair restated a “market perform” rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. Finally, The Goldman Sachs Group downgraded Maravai LifeSciences from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $7.00 to $4.25 in a research report on Thursday, December 5th. 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’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $10.28.

Maravai LifeSciences Trading Down 8.5 %

The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -3.07 and a beta of -0.07. The firm’s 50 day moving average is $5.42 and its 200 day moving average is $7.21.

Maravai LifeSciences (NASDAQ:MRVI) last issued its earnings results on Thursday, November 7th. The company reported ($0.09) earnings per share (EPS) for the quarter. Maravai LifeSciences had a negative return on equity of 6.61% and a negative net margin of 81.13%. The company had revenue of $65.20 million during the quarter, compared to analyst estimates of $67.58 million. During the same quarter in the previous year, the firm earned ($0.02) earnings per share. Equities analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.24 earnings per share for the current year.

Insider Activity

In related news, insider Carl Hull bought 175,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was bought at an average price of $5.64 per share, for a total transaction of $987,000.00. Following the transaction, the insider now directly owns 175,000 shares in the company, valued at $987,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.63% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Empowered Funds LLC acquired a new position in Maravai LifeSciences in the fourth quarter worth approximately $155,000. Bleakley Financial Group LLC increased its stake in shares of Maravai LifeSciences by 30.1% during the 4th quarter. Bleakley Financial Group LLC now owns 41,691 shares of the company’s stock worth $227,000 after purchasing an additional 9,657 shares during the last quarter. E. Ohman J or Asset Management AB raised its holdings in shares of Maravai LifeSciences by 10.7% during the 4th quarter. E. Ohman J or Asset Management AB now owns 257,751 shares of the company’s stock valued at $1,405,000 after purchasing an additional 25,000 shares in the last quarter. Jennison Associates LLC increased its position in Maravai LifeSciences by 0.3% during the fourth quarter. Jennison Associates LLC now owns 2,990,414 shares of the company’s stock worth $16,298,000 after buying an additional 9,769 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of Maravai LifeSciences by 10.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 30,076 shares of the company’s stock worth $164,000 after acquiring an additional 2,851 shares in the last quarter. Hedge funds and other institutional investors 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.