Maravai LifeSciences (NASDAQ:MRVI) Shares Down 6.5% – What’s Next?

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) dropped 6.5% during mid-day trading on Monday . The company traded as low as $3.45 and last traded at $3.3850. Approximately 120,396 shares were traded during trading, a decline of 94% from the average daily volume of 2,105,328 shares. The stock had previously closed at $3.62.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Maravai LifeSciences in a research report on Tuesday, October 14th. Royal Bank Of Canada decreased their target price on Maravai LifeSciences from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday, August 12th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $5.22.

Maravai LifeSciences Trading Down 7.0%

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 firm has a market capitalization of $860.45 million, a price-to-earnings ratio of -4.01 and a beta of 0.34. The business has a 50-day moving average of $3.23 and a two-hundred day moving average of $2.70.

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

Insiders Place Their Bets

In other Maravai LifeSciences news, CEO Bernd Brust purchased 216,212 shares of the firm’s stock in a transaction 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 purchase, the chief executive officer directly owned 466,771 shares of the company’s stock, valued at approximately $1,517,005.75. This represents a 86.29% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired a total of 466,771 shares of company stock worth $1,511,699 in the last 90 days. 2.11% of the stock is owned by insiders.

Institutional Trading of Maravai LifeSciences

Institutional investors have recently made changes to their positions in the business. Callan Family Office LLC bought a new position in Maravai LifeSciences during the second quarter worth about $25,000. Ethic Inc. bought a new stake in shares of Maravai LifeSciences in the 2nd quarter valued at approximately $26,000. Sprott Inc. acquired a new position in shares of Maravai LifeSciences in the 3rd quarter worth approximately $29,000. McAdam LLC bought a new position in shares of Maravai LifeSciences during the 1st quarter worth approximately $31,000. Finally, Quantessence Capital LLC acquired a new stake in Maravai LifeSciences in the 3rd quarter valued at $31,000. 50.25% of the stock is currently owned by institutional investors and hedge funds.

About Maravai LifeSciences

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.