Maravai LifeSciences (NASDAQ:MRVI) Trading Down 5.8% – Time to Sell?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) was down 5.8% during trading on Thursday . The company traded as low as $3.82 and last traded at $3.7130. Approximately 140,841 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 1,063,061 shares. The stock had previously closed at $3.94.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Maravai LifeSciences in a report on Tuesday, October 14th. Wells Fargo & Company raised 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 given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $5.25.

Maravai LifeSciences Trading Up 6.2%

The stock’s 50 day moving average is $3.56 and its two-hundred day moving average is $3.03. The company has a market capitalization of $1.00 billion, a PE ratio of -4.67 and a beta of 0.33. The company has a quick ratio of 4.56, a current ratio of 5.29 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) EPS for the quarter, missing analysts’ consensus estimates 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. As a group, sell-side analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Bernd Brust bought 216,212 shares of the stock in a transaction on Thursday, November 13th. The stock was bought at an average price of $3.25 per share, for a total transaction of $702,689.00. Following the completion of the acquisition, the chief executive officer directly owned 466,771 shares in the company, 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 legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gregory T. Lucier bought 51,472 shares of the company’s stock in a transaction on Friday, December 5th. The shares were bought at an average cost of $3.70 per share, for a total transaction of $190,446.40. Following the transaction, the director directly owned 106,595 shares in the company, valued at approximately $394,401.50. This represents a 93.38% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 566,771 shares of company stock valued at $1,880,244 in the last three months. 2.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Maravai LifeSciences

Institutional investors have recently added to or reduced their stakes in the stock. Callan Family Office LLC bought a new position in Maravai LifeSciences in the second quarter worth about $25,000. Ethic Inc. purchased a new position in shares of Maravai LifeSciences in the 2nd quarter worth approximately $26,000. Sprott Inc. bought a new position in shares of Maravai LifeSciences during the 3rd quarter worth approximately $29,000. Quantessence Capital LLC purchased a new stake in Maravai LifeSciences during the third quarter valued at approximately $31,000. Finally, Abel Hall LLC acquired a new stake in Maravai LifeSciences in the third quarter valued at approximately $33,000. Institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Company Profile

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.