Maravai LifeSciences (NASDAQ:MRVI) Stock Price Down 7% – What’s Next?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) fell 7% during mid-day trading on Monday . The stock traded as low as $3.35 and last traded at $3.3850. 382,308 shares were traded during mid-day trading, a decline of 82% from the average session volume of 2,131,530 shares. The stock had previously closed at $3.64.

Wall Street Analysts Forecast Growth

Several research analysts 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 dropped their price objective on shares of Maravai LifeSciences from $7.00 to $5.00 and set an “outperform” rating on the stock 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Maravai LifeSciences currently has an average rating of “Hold” and a consensus price target of $5.22.

Maravai LifeSciences Stock Performance

The company has a market cap of $854.07 million, a PE ratio of -3.98 and a beta of 0.34. The company has a debt-to-equity ratio of 0.74, a quick ratio of 4.56 and a current ratio of 5.29. The firm’s 50 day moving average is $3.06 and its 200-day moving average is $2.60.

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

Insider Activity

In other news, CEO Bernd Brust acquired 93,358 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was purchased at an average cost of $3.21 per share, for a total transaction of $299,679.18. Following the completion of the transaction, the chief executive officer owned 250,559 shares in the company, valued at approximately $804,294.39. This trade represents a 59.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.11% of the company’s stock.

Institutional Trading of Maravai LifeSciences

Institutional investors have recently made changes to their positions in the company. Teacher Retirement System of Texas purchased a new position in Maravai LifeSciences in the first quarter worth approximately $37,000. Royce & Associates LP grew its holdings in shares of Maravai LifeSciences by 38.5% during the 1st quarter. Royce & Associates LP now owns 1,328,444 shares of the company’s stock worth $2,936,000 after purchasing an additional 369,559 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Maravai LifeSciences by 56.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 47,031 shares of the company’s stock worth $104,000 after purchasing an additional 16,914 shares during the last quarter. XTX Topco Ltd raised its holdings in Maravai LifeSciences by 160.4% in the 1st quarter. XTX Topco Ltd now owns 99,458 shares of the company’s stock valued at $220,000 after buying an additional 61,270 shares during the period. Finally, Monaco Asset Management SAM lifted its position in Maravai LifeSciences by 186.9% in the first quarter. Monaco Asset Management SAM now owns 835,865 shares of the company’s stock valued at $1,847,000 after buying an additional 544,501 shares during 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.