Maravai LifeSciences (NASDAQ:MRVI) Shares Down 5.3% – Time to Sell?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) shares were down 5.3% during trading on Thursday . The stock traded as low as $8.46 and last traded at $8.4250. Approximately 1,561,504 shares were traded during trading, a decline of 35% from the average session volume of 2,414,749 shares. The stock had previously closed at $8.90.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MRVI. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $6.00 price target on shares of Maravai LifeSciences in a research note on Friday, May 8th. Wells Fargo & Company lifted their price objective on Maravai LifeSciences from $5.50 to $6.50 and gave the company an “overweight” rating in a report on Friday, August 7th. Weiss Ratings upgraded Maravai LifeSciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 29th. UBS Group restated a “reduce” rating on shares of Maravai LifeSciences in a research report on Wednesday, June 3rd. Finally, Wall Street Zen raised Maravai LifeSciences from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Two analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $6.25.

Maravai LifeSciences Stock Down 5.4%

The firm has a 50-day simple moving average of $6.50 and a 200 day simple moving average of $4.70. The stock has a market capitalization of $2.19 billion, a P/E ratio of -16.22 and a beta of 0.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.05 and a quick ratio of 2.98.

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

Insider Activity at Maravai LifeSciences

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

Institutional Investors Weigh In On Maravai LifeSciences

Several large investors have recently modified their holdings of MRVI. Royal Bank of Canada lifted its holdings in Maravai LifeSciences by 49.0% in the first 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. Quantessence Capital LLC acquired a new position in shares of Maravai LifeSciences in the 3rd quarter valued at about $31,000. Abel Hall LLC bought a new stake in shares of Maravai LifeSciences during the 3rd quarter valued at about $33,000. CIBC Bancorp USA Inc. acquired a new stake in Maravai LifeSciences during the third quarter worth approximately $33,000. Finally, Virtu Financial LLC acquired a new position in Maravai LifeSciences in the fourth quarter valued at approximately $34,000. 50.25% of the stock is currently owned by institutional investors and hedge funds.

About Maravai LifeSciences

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.