Maravai LifeSciences (NASDAQ:MRVI) Shares Down 2.9%

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s share price was down 2.9% during trading on Wednesday . The company traded as low as $7.81 and last traded at $7.90. Approximately 268,444 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 2,618,730 shares. The stock had previously closed at $8.14.

Wall Street Analyst Weigh In

MRVI has been the topic of a number of research analyst reports. Craig Hallum started coverage on Maravai LifeSciences in a report on Wednesday, April 10th. They issued a “buy” rating and a $15.00 target price on the stock. Stifel Nicolaus dropped their target price on shares of Maravai LifeSciences from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, February 23rd. Finally, Royal Bank of Canada increased their price target on shares of Maravai LifeSciences from $12.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.56.

Maravai LifeSciences Stock Performance

The business’s 50-day simple moving average is $7.52 and its 200-day simple moving average is $6.77. The company has a current ratio of 8.00, a quick ratio of 7.41 and a debt-to-equity ratio of 0.70.

Maravai LifeSciences (NASDAQ:MRVI) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). Maravai LifeSciences had a negative return on equity of 1.31% and a negative net margin of 41.19%. The company had revenue of $74.14 million during the quarter, compared to the consensus estimate of $62.99 million. On average, analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.15 earnings per share for the current year.

Institutional Investors Weigh In On Maravai LifeSciences

A number of hedge funds have recently modified their holdings of MRVI. Captrust Financial Advisors raised its holdings in Maravai LifeSciences by 1.3% during the 1st quarter. Captrust Financial Advisors now owns 33,535 shares of the company’s stock worth $1,183,000 after buying an additional 442 shares during the period. Zions Bancorporation N.A. acquired a new stake in shares of Maravai LifeSciences in the 1st quarter valued at about $28,000. Public Employees Retirement System of Ohio lifted its holdings in shares of Maravai LifeSciences by 2.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 56,289 shares of the company’s stock valued at $805,000 after purchasing an additional 1,181 shares in the last quarter. Comerica Bank bought a new position in shares of Maravai LifeSciences during the second quarter worth about $180,000. Finally, China Universal Asset Management Co. Ltd. raised its position in Maravai LifeSciences by 96.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,391 shares of the company’s stock valued at $34,000 after buying an additional 1,662 shares during the last quarter. Institutional investors and hedge funds 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.