Maravai LifeSciences (NASDAQ:MRVI) Trading Down 4.7% – Here’s What Happened

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) dropped 4.7% during trading on Tuesday . The stock traded as low as $3.27 and last traded at $3.3350. Approximately 308,114 shares traded hands during trading, a decline of 85% from the average daily volume of 2,054,138 shares. The stock had previously closed at $3.50.

Wall Street Analysts Forecast Growth

MRVI has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Maravai LifeSciences in a report on Tuesday, October 14th. Wells Fargo & Company upped their target price on shares of Maravai LifeSciences from $4.00 to $4.50 and gave the stock an “overweight” rating in a research report on Monday, December 15th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Maravai LifeSciences presently has an average rating of “Hold” and a consensus price target of $5.25.

Maravai LifeSciences Stock Up 0.5%

The firm has a market cap of $845.11 million, a price-to-earnings ratio of -3.93 and a beta of 0.33. The firm has a 50 day moving average price of $3.41 and a 200-day moving average price of $2.87. The company has a current ratio of 5.29, a quick ratio of 4.56 and a debt-to-equity ratio of 0.74.

Maravai LifeSciences (NASDAQ:MRVI) last posted its earnings results on Thursday, November 6th. The company reported ($0.08) earnings per share 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 business had revenue of $41.63 million for the quarter, compared to analysts’ expectations of $49.02 million. On average, equities analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.24 EPS for the current year.

Insider Activity at Maravai LifeSciences

In related news, Director Gregory T. Lucier bought 51,472 shares of Maravai LifeSciences stock in a transaction that occurred on Friday, December 5th. The shares were purchased at an average price of $3.70 per share, with a total value of $190,446.40. Following the purchase, the director owned 106,595 shares in the company, valued at $394,401.50. This represents a 93.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Bernd Brust bought 216,212 shares of the stock in a transaction on Thursday, November 13th. The shares were bought at an average price of $3.25 per share, for a total transaction of $702,689.00. Following the acquisition, the chief executive officer owned 466,771 shares in the company, valued at $1,517,005.75. The trade was a 86.29% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 566,771 shares of company stock valued at $1,880,244 over the last 90 days. Insiders own 2.11% of the company’s stock.

Institutional Trading of Maravai LifeSciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Callan Family Office LLC purchased a new position in Maravai LifeSciences in the 2nd quarter valued at about $25,000. Ethic Inc. acquired a new position in shares of Maravai LifeSciences in the second quarter valued at approximately $26,000. Sprott Inc. purchased a new position in shares of Maravai LifeSciences during the third quarter valued at approximately $29,000. McAdam LLC acquired a new stake in Maravai LifeSciences during the first quarter worth approximately $31,000. Finally, Quantessence Capital LLC acquired a new stake in Maravai LifeSciences during the third quarter worth approximately $31,000. Hedge funds and other institutional investors own 50.25% of the company’s stock.

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.